OF all the innovative technologies that Scotland is building, world-class capability in space is perhaps the most headline-grabbing.

The City of Glasgow already manufactures more small satellites than any other place in Europe. The recent announcement that Europe’s first spaceport is to be built in Sutherland – taking advantage of favourable northerly latitudes – reinforces that message.

The route to success in modern technologies is for collaboration between the Scottish Government, agencies, established private sector companies, start-up businesses and academic excellence.

READ MORE: Space rocket firm Skyrora lands in new Edinburgh base

This generates sustainable high-value jobs and provides springboards for future innovation as technologies develop and grow, in often unexpected directions.

The space industry is no exception. Scotland is well placed in the design and manufacture of both satellites and rockets and will soon have the capability to launch them into orbit.

It is also developing capability in the analysis of the data that satellites beam back to Earth – whether that be to monitor land use, track global shipping or observe weather patterns.

In the long run it is that analytical expertise – and the ability to find new and innovative ways to use the data that satellites provide – that could bring in the biggest commercial opportunities.

A sector that comprised 30 companies five years ago has reportedly now grown to more than 180.

The combination of dynamic and innovative start-ups and inward investment from UK or international businesses establishing themselves in Scotland is accelerating.

This week I hosted an event in Scotland House, the Scottish Government’s base in London, in front of a packed room of industry experts and potential investors. Space is a rapidly growing sector and Scotland is becoming increasingly recognised as a key go-to location for those that want to be at the forefront of this exciting new industry.

READ MORE: Scotland is the ‘place for space’ ... satellite developer predicts boom for 'exploding' industry

The Government’s investments and expertise in supportive enabling technologies – particularly through CENSIS, the sensor innovation centre at Strathclyde University; the Data Lab Innovation Centre in Edinburgh; and the soon-to-be-established National Manufacturing Institute for Scotland (NMIS) – are recognised as adding real value to the sector in Scotland.

Finding the right skills is a major factor in business deciding to invest in Scotland. The Government’s focus on STEM – science, technology, engineering and manufacturing – subjects is key to providing the flow of talented individuals who can fill these jobs.

This week I was also in Brussels, representing Scotland at the Vanguard Initiative which fosters links between industrial clusters in nations and regions across the EU, enabling them to leverage technological innovation to achieve results they couldn’t deliver on their own.

I strongly made the point that Scotland wants to continue these co-operations whatever happens with Brexit.

Ongoing uncertainty around the UKs future participation in Galileo – the EUs global satellite navigation system – and Copernicus – the EU programme that provides Earth with observation data from space – further highlights the economic risks our withdrawal from the EU entails.

The process of building the industries of the future – be that in life sciences and precision medicine, FinTech and Blockchain, renewable energy or advanced manufacturing – comprises the painstaking work of bolting together all the elements of a successful innovation ecosystem. Building on academic expertise, linking it up with industrial applications, all supported by a clear focus from government and its agencies.

The Scottish space sector is no longer just the science fiction of “beam me up Scottie”, it is rapidly becoming the science fact of real economic development.