Space — just like other deep tech sectors — is an exciting place if you’re an entrepreneur wanting to make a name for yourself in business.
Business ventures like SpaceX, Relativity Space, Kymeta, and Rocket Lab were all founded by people who have that entrepreneurial streak in them.
According to a Citi report from last year, the space industry is set to hit US $1 trillion in revenue by 2040, which makes it a very good sector to get into for those with enough know-how and a great idea.
Another individual who agrees with this estimate is Peter Stridh, Co-founder and CSO at Nebula Space Enterprise, a Houston, Texas-based company he founded along with Michael Bloxton.
As a company, Nebula Space Enterprise helps building the bridge to space for humanity, starting with secure communications and data.
“Now’s the time to get involved while it’s still right. You have to look at what’s the long-term opportunity across services. It’s more than just the fundamentals on satellites, buses and rockets,” said Stridh in a video posted on Nebula Space Enterprise’s YouTube channel.
Stridh and Bloxton think that the largest roadblock to the expansion of the space sector is bad business models. Space tourism, for instance, is a low-opportunity model at this point, as only a select few will be able to pay for the experience. Space companies and new entrepreneurs should be seeking to solve real problems and meet immediate needs to realize true success and provide scalable space-based solutions and businesses.
“The services that will evolve,” Stridh continued, “many of them will be software-based. There are large amounts of verticals evolved in observation in particular, analytics and autonomous capabilities. This is a tremendous opportunity for anyone who’s involved in software to think through the new capabilities we can develop. And in many cases, there’s room for a whole new series of industries and startups just to support every single vertical.”
Stridh was clear, however, that most of these verticals exist already.
“The question is, how do you augment what exists today in emergency services, autonomous behaviour, and intelligent transportation? Ask those questions and you’ll be able to augment the existing services with better capabilities from space,” stated Stridh.
Featured image: Screenshot from ‘Entrepreneurs have an opportunity in the space industry’. Credit: Nebula Space Enterprise