[SatNews] Jay Gullish, the Director of Space & Telecommunications for Futron Corporation, offers the following letter to those involved in the space industry...

Dear Space Industry Executive,

The satellite navigation market is among the most innovative and dynamic segments within the space industry.

According to the Space Foundation's The Space Report 2011, the satellite navigation market is one of the fastest growing segments of the space product and services industry, with total annual revenues growing from $57 billion in 2008 to $71 billion in 2010. Given the excitement surrounding this market, Futron would like to make you aware of the deadline for the European Satellite Navigation Competition (ESNC). The ESNC provides cash awards for innovative ideas, products and services as a way to stimulate and commercialize the satellite navigation segment. The ESNC is currently accepting online submissions until June 30, 2011.

Each year the ESNC awards cash prizes worth €140,000 euros and start-up support worth 1 million euros. Winners of the various prizes will be in the running for the Galileo Masters grand prize of 20,000 euros and six months incubation in a regional center of choice, awarded by Anwendungszentrum GmbH Oberpfaffenhofen (AZO) and the European GNSS Agency (GSA). The yearly ESNC is held in 23 partner regions and rewards and promotes next-generation satnav innovators - no matter if you are entrepreneurs or private individuals, companies, research institutes, or universities. What counts is your idea. If you have a satnav idea or killer app, make sure to check out there site and submit your concepts. Registration is easy. Just visit www.galileo-masters.eu and submit a description of your satnav idea to a secure online database.