Catching up with other states, Australia is all set to build a space agency of its own, which will be the first one in the country.

Aiming to open up country’s first space agency, the emphasis of it will be on the commercial utilization of space with Australian researchers, hoping that there will be purely scientific efforts too.

The Australian government has planned to provide AU$50 million in ‘seed funding’ to set and run the agency. Led by geologist Megan Clark, the formal announcement of the move is expected to happen on May 8.

As per astronomer Peter Quinn, despite the emphasis on applied technology and modest funding, the decision of the agency’s establishment ‘is a major landmark for Australian industry and science’, reported Science Magazine.

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While talking to The Guardian, astrophysicist Alan Duffy informed that instead of putting people in space, the space agency will more be focused on research and economic development. One of the major focuses will be on improving the GPS technology used for mapping, aviation, and board-scale farming projects. Also, the set up of this space agency will allow Australians to stay in the country instead of going abroad for jobs.

Moreover, the location of the agency has not yet been revealed as per ABC News, the states of Western Australia, South Australia, the Northern Territory, and the Australian Capital Territory have expressed interest in hosting the space program.

“The $50 million injection is a great start for setting up the agency itself. Australia is at the perfect time to jump in and grab part of this market because it is changing,” expressed astronomer Anna Moore.