The memorandum of understanding was solemnly signed 21 July 2026 year during the International Air Show in Farnborough (Farnborough International Airshow) in Great Britain. Funding was divided equally – each party invests by 200 000 dollars (about 300 000 pounds sterling in total).
Key details and terms of financing
The first program of the fund: The agreement marks the first official partnership under the newly formed Florida International Aerospace Innovation Fund (International Aerospace Innovation Fund).
Mandatory selection criteria: Applicant projects must include at least one organization or company from Great Britain and one partner, based in Florida.
Commercial potential: Developments should demonstrate clear prospects for entering the market and commercializing aerospace services.
Within the framework of the program, funds will be provided on a competitive basis by an independent expert commission for the development of such technologies:
- Commercial space transport and logistics
- Satellite systems and satellite communication
- Research in outer space
- Service and production directly in orbit (In-orbit servicing)
Project implementation schedule
Autumn 2026 year – official opening of applications for UK and Florida companies and research institutes. 2027 year – final review of proposals by an expert panel and announcement of selected winners. The program is based on a wider framework agreement on trade and economic cooperation between Great Britain and Florida, previously signed by state governor Ron DeSantis.
Source: https://spacenews.com