Ten projects have been awarded a combined funding pot of £2.5m for solutions using satellite data, as part of the UK Space Agency’s (UKSA) Unlocking Space for Business programme.
The projects, which will receive up to £400,000 individually, are utilising a number of technologies along with satellite data and services, including artificial intelligence (AI), quantum tech, machine learning and geospatial data.
The solutions being trialled will have applications in a number of areas, including transport, logistics and financial services.
As well as the funding, Unlocking Space for Business is providing a number of resources, including workshops, networking events, development sessions and online resources, to help businesses understand how they can benefit from satellite data.
One high-profile project will see Sports City Management Company improving the visitor experience at the Etihad Campus, the home of Manchester City’s Etihad Stadium and the new Co-op Live arena.
The project will look to analyse earth observation and fan travel data to reduce both congestion and CO2 emissions.
An AI-powered system will use satellite data from the UKSA to predict travel patterns at football and live music events.
Machine learning will be employed to provide insight into areas such as public transport demands, congestion points and crowd flow.
AI and remote sensing will monitor nature restoration projects
Another project will see Octopus Investments partnering with Treeconomy to use a combination of satellite-based Earth observation data sources, drone-based data and AI analysis.
This can aid nature restoration projects including afforestation – the establishing of new forests on land that was not previously forest – by monitoring and evaluating the projects to guide investment decisions.
Other projects also address environmental issues, including one from Equitix Limited partnering with climate modelling expert Sust Global.
This will help to develop AI-powered climate models that utilise satellite data to explore how changing wind resources could affect wind asset operational and financial performance.
WieldMore Investment Management Limited will aim to develop a Comprehensive Environmental Risk Evaluation System (CERES) to assess the impact of climate and nature risks on manufacturing, energy and agriculture sectors.
Elsewhere, Admiral Group Plc will be using satellite radar to assess subsidence-related insurance claim risks, and Level E Research Limited will develop an AI Risk Index to assess the impact of potential environmental events on investments and increase overall business efficiency.
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