Skip to content

Business Model Innovation: Space Economy Ecosystem

QUICK SUMMARY

The session explored the rapidly growing space economy, projected to reach $1.8 trillion by 2035, and how terrestrial industries can both contribute to and benefit from space innovation. Panelists from NASA, MIT Media Lab, and Aerospace Inc. discussed challenges including space debris, governance issues, and the need for cross-industry collaboration to solve complex problems. The discussion emphasized making space data more accessible, applying space technologies to solve Earth’s problems, and creating sustainable governance models for space activities.

KEY QUOTES

  • “The space economy is projected to reach $1.8 trillion in the next 10 years. That is nearly a triple increase from 630 billion… a 9% increase annually, significantly more than the global GDP increase.”
  • “NASA technology is so valuable in solving the social problems of the world. The innovation in food packaging, nutrition, waste and water handling within spacecraft can help fix nutrition inequalities and water supply problems globally.”
  • “Stop thinking like a space agency… constantly question what limitations we’re imposing on ourselves just because we tell ourselves we’re the space agency.”

FULL SESSION SUMMARY

Introduction to the Space Economy

The session began with an introduction to the concept of the space economy, defined as all economic activity from building and launching satellites and humans into space, plus downstream Earth-based innovation and services. The panelists—Kara Cunzeman from Aerospace Inc., Minoo Rathnasabapathy from MIT Media Lab, and Vik Shayam from NASA—emphasized that space-based services are already integral to daily life through weather forecasting, broadband connections, and ride-hailing services. The space economy is growing rapidly, projected to reach $1.8 trillion by 2035, representing a 9% annual growth rate that significantly outpaces global GDP growth.

Current Challenges and Opportunities

Several key challenges were identified, with space debris being a critical concern. With China planning to launch approximately 100,000 satellites in the coming years and numerous private companies entering the sector, the panelists stressed that space junk will become an increasingly urgent problem. The session highlighted emerging opportunities including space-based pharmaceutical research, 3D printing in space, reverse launching (building in space and sending back to Earth), and space solar power.

Learning from Failure

The panel emphasized the importance of learning from failure, noting that the space industry’s previous motto of “failure is not an option” is outdated. They discussed how other industries handle failure, with architecture cited as an example of a field that has centuries of experience with failure and has developed systems to check for known failure patterns. One panelist shared Nokia’s failure to adapt to smartphones as a cautionary tale, urging space organizations to “stop thinking like a space agency” and look outside their industry for innovation.

Cross-Industry Collaboration

A significant portion of the discussion focused on how terrestrial industries can contribute to space innovation and vice versa. The panelists noted that space generates over 100 terabytes of data daily, with over 50% of essential climate variables only measurable from space. They encouraged more collaboration between space and non-space industries to leverage this data for solving Earth’s problems. One participant suggested making space data more accessible through platforms like Kaggle to encourage innovation.

Governance and Sustainability

The session addressed the need for better governance models for space activities. Participants discussed the concept of “extended producer responsibility” for space debris and the potential for industry-led standards around pre-competitive aspects of space operations. The panel explored the idea of a “Space Bill of Rights” that would establish what humanity will and will not accept regarding space activities, similar to how we’ve established standards for exposure to carcinogens on Earth.

Applying Space Innovation to Earth’s Problems

One of the most compelling discussions centered on how space technologies could address terrestrial challenges. A participant highlighted how NASA’s innovations in food packaging, nutrition, and water management could help address global nutrition inequalities and water supply problems. Another example given was how satellite mapping could help companies like Coca-Cola track their supply chains in densely populated countries like India, where products might pass through dozens of middlemen before reaching rural consumers.

Conclusion and Next Steps

The session concluded with a call for continued engagement, including a planned webinar on July 21st and weekly “idea jams” run by NASA. The panelists expressed their intention to write a paper focused on how the broader innovation community is helping the space industry and to develop recommendations based on the session’s discussions.

KEY TAKEAWAYS

  1. The space economy is growing rapidly (9% annually) and is projected to reach $1.8 trillion by 2035, creating significant opportunities for cross-industry innovation.
  2. Space debris is a critical challenge that requires urgent attention and innovative solutions, especially as more countries and companies launch satellites.
  3. Space-generated data (100+ terabytes daily) represents an underutilized resource that could help solve numerous terrestrial problems if made more accessible.
  4. Effective governance models for space activities are lacking but essential; industry-led standards and concepts like “extended producer responsibility” could provide frameworks.
  5. NASA’s technologies developed for space (food packaging, water management, etc.) have significant potential to address global challenges like nutrition inequality and water scarcity.
  6. Organizations must “stop thinking like a space agency” and look outside their industry for innovation, learning from both successes and failures in other sectors.
  7. Making space data more accessible through platforms like Kaggle could democratize innovation and lead to unexpected breakthroughs.

DELIVERY ON EVENT FOCUS: Aligning Innovation with Business Strategy

The session demonstrated how space innovation can align with business strategy across multiple industries. By highlighting how space-derived technologies and data can solve terrestrial business problems (like Coca-Cola’s supply chain challenges in India), the panelists showed that space isn’t just about exploration but can directly contribute to business objectives. The discussion of licensing NASA technologies for commercial applications illustrated how space agencies can monetize their innovations while helping businesses solve complex problems. The emphasis on cross-industry collaboration showcased how companies can incorporate space-based solutions into their strategic planning to gain competitive advantages and address sustainability challenges.

DELIVERY ON EVENT THEME: Harvesting Innovation and Sowing the Seeds of Future Growth

The session directly addressed the event theme by exploring how to harvest existing space innovations for immediate applications while sowing seeds for future growth. The discussion of NASA’s historical innovations in food packaging, water management, and other areas demonstrated untapped potential that could be “harvested” for current use. Meanwhile, conversations about governance models, addressing space debris, and creating sustainable space operations represented “sowing seeds” for future growth. The panel’s emphasis on making space data more accessible through platforms like Kaggle exemplified how to cultivate innovation ecosystems that will yield future benefits across industries.

ACTION ITEMS FOR INNOVATION EXPERTS & CORPORATE CHANGEMAKERS

  1. Explore Space Data Resources: Investigate how your organization could utilize the 100+ terabytes of daily space-generated data to solve business problems or create new products/services.
  2. Audit NASA Technologies: Review NASA’s technology portfolio for innovations that could be licensed or adapted to address challenges in your industry, particularly in areas like resource management, materials science, and sustainability.
  3. Participate in Cross-Industry Collaborations: Join NASA’s weekly idea jams or similar forums to contribute your industry expertise to space challenges and discover potential applications of space technology to your business.
  4. Develop Governance Frameworks: If your organization operates in or adjacent to the space sector, participate in creating industry-led standards for responsible space operations, particularly regarding debris mitigation.
  5. Create Data Accessibility Initiatives: If you work with space-related data, consider making it available on platforms like Kaggle to encourage innovation from software engineers and data scientists outside the space industry.
  6. Identify Supply Chain Applications: Evaluate how satellite mapping and other space technologies could improve visibility and efficiency in your supply chain, especially in challenging geographic regions.
  7. Invest in Sustainable Space Solutions: Consider how your organization might contribute to or benefit from innovations addressing space sustainability challenges, which could yield technologies applicable to terrestrial sustainability issues.