The British government is to boost its support for the space and aeronautics industries by investing £6m in local research and development efforts.
The UK Space Agency said that it would be investing the money through the National Space Technology Programme. The grants will fund a series of four major research and development projects.
The agency noted that the funds would only provide part of the total investment in the effort, as the participating companies will put additional funds to push the project to an £11.5m venture in total.
The government hopes that the infusion of cash helps to spur development in the nation's technology sector.
Previous space exploration pushes, most notably the 1960s "space race" between the US and the Soviet Union, helped to drive major advances in areas including supercomputing, engineering and design for industrial materials.
"The UK space industry supports thousands of high-tech jobs in the UK and is an important driver of economic growth," said minister for universities and science, David Willetts.
"This £6m investment will build on that success by helping some of the most innovative British businesses develop highly commercial, cutting-edge space technology that will be in demand in a growing global market."
The investment also comes amid a larger push by the government to fund local IT and consumer technology firms. A redevelopment of the Olympic Village and the East End has grown to become the "Tech City" start-up haven.
Government agencies have also sought to improve the nation's internet backbone, committing funds to improve high-speed internet access in 10 major UK cities.