Australia’s new space institute warns millions are lost offshore, urging investment in sovereign satellites and data resilience. The Australasian Space Innovation Institute (ASII) aims to accelerate the application of industry research, enhance Australia’s space capabilities, and deliver tangible benefits across the economy. The launch comes as the federal government maintains its target of tripling the size of Australia’s space sector by 2030. “Currently, millions of dollars are being diverted offshore instead of supporting the local space industry,” Koronios told SmartCompany. Transparency, dual-use technology and future standardsFor Australia’s space sector to grow credibility with government, industry and the public, clear accountability will be crucial.