DSUK is seeking £40,000 from Argyll and Bute Council to develop a business plan to support the development.
If approved, the funding would be awarded from the council's Inward Investment Fund.
DSUK is planning to develop the facility on the former airbase site in Machrihanish. Advantages of the site include a 3km runway, it is situated well away from major centres of population and congested airspace, and has open sea to the west and space for expansion.
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Cllr Aileen Morton said: "Bringing the UK's first spaceport to Campbeltown is about transforming the economy of Kintyre and wider Argyll by bringing long-term, high quality and sustainable jobs to the area.
"A lot of work's already been done by the Council and our partners to highlight the distinct advantages that this location offers, and this has raised the profile of Argyll and Bute as a place to invest and do business.
"This is a highly ambitious project. The scale of benefit it has the potential to deliver makes it worth considering for support from the Inward Investment Fund."
(LM/CD)
