“From an economic point of view, we can distinguish three successive phases in the development of space business. In the first phase, space activities were government driven and based upon national prestige, and were financed with public money. In a second phase, large space companies, as a reaction against reduced government space funding, responded to a market demand and used their own funds or debt financing to perform commercial space business. Since approximately the year 2000, we note a third phase, whereby entrepreneurs acquire equity funding to develop independently space application projects. This phase is referred to as the New Space economy. The three phases will be covered in this paper, with an outlook to the evolution of the space economy the next decades. The outlook for New Space entrepreneurial business activities, with an emphasis on small satellites and micro-launchers, will be developed further herein.”
Read this article by Walter Peeters, Professor of Space Business and Management at the International Space University:
https://www.eurospacehub.com/wp-content/uploads/2023/09/Astropolitics_Evolution_2022-1.pdf
ABOUT EUROSPACEHUB
EuroSpaceHub is a group of 5 founding members, VilniusTECH, International Space University, Complutense University Madrid, Lunex Foundation and Collabwith Group.
EuroSpaceHub aims to connect digitally the space ecosystem in Europe, from tech transfer offices to industry, space accelerator networks, research centres, and other universities. The project will allow these actors to easily connect with financial opportunities from the Horizon Europe framework, the venture capital programme, and the InnovFin initiative. EuroSpaceHub will bridge the gap between academic institutions and industry using a collaborative mindset and entrepreneurship programmes inside the universities connected through tech transfer offices.
EUROSPACEHUB IS FOUNDED BY VILNIUSTECH, INTERNATIONAL SPACE UNIVERSITY, COMPLUTENSE UNIVERSITY OF MADRID, COLLABWITH, LUNEX FOUNDATIONS AND FUNDED BY THE EIT HEI INITIATIVE LEAD BY EIT MANUFACTURING & EIT RAW MATERIALS.