Attracting private investment for lunar commerce toward economically sustainable development
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Network & Space Systems Space Exploration. Attracting Private Investment for Lunar Commerce: Toward Economically Sustainable Development. Rutgers Symposium on Lunar Settlements 7 June 2007 New Brunswick, NJ. Paul Eckert , Ph.D. International & Commercial Strategist

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Attracting Private Investment for Lunar Commerce: Toward Economically Sustainable Development

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Attracting private investment for lunar commerce toward economically sustainable development

Network & Space Systems

Space Exploration

Attracting Private Investment for Lunar Commerce:Toward Economically Sustainable Development

Rutgers Symposium on Lunar Settlements

7 June 2007New Brunswick, NJ

Paul Eckert , Ph.D.

International & Commercial Strategist

The Boeing Company – IDS – Space Exploration


Roundtables revealed connections

Roundtables revealed connections.

www.spacecommerceroundtable.com

  • Roundtable 1

    • Dallas, Texas – June 2005

    • Broad survey of lunar-related opportunities

  • Roundtable 2

    • Houston, Texas – Oct. 2005

    • Focus on lunar-related solar power, propellant, media, robotics

  • Roundtable 3

    • Las Vegas, NV – July 2006

    • Shift focus to entire Earth-Moon economic system

  • Investment Summits – 2007 and onward

Boeing Photo

Attracting Private Investment

2


Roundtables expressed global views

Roundtables expressed global views.

www.spacecommerceroundtable.com

Space Commerce Roundtable

Space Frontier Foundation

National Space Society

Boeing Photo

Attracting Private Investment

3


Roundtables yielded insights

E

C

O

N

O

M

I

C

G

R

O

W

T

H

Space Companies: Established

Space Companies: Startups

Non-Space Companies

Investors

Energy

Platforms

Surface

Services

Information

Experts/Partners:

Government, Academia, Associations

Roundtables yielded insights.

Increasing Investment While Reducing Risk

Ventures

Multiple-Use

Applications

Demonstrations

Research

Entrepreneurial

Innovation

Dialogue

Attracting Private Investment


More private investment is essential for commercial growth

More private investment is essential for commercial growth.

  • Problems facing space commerce are financial as much as technical.

  • Commerce could lower costs and increase availability of products and services, but public funding has not been enough to get things started.

  • A strategic move is to bring more investors into space commerce.

  • “Angels” are most likely to be interested in early-stage, high-risk, high-opportunity projects; larger investors usually get involved later.

  • Angel investors:

    • listen to other investors, more than to analyst reports or entrepreneurial pitches

    • prefer invitations from people they already know

    • specialize and want opportunities expressed in familiar terms

    • have many opportunities to choose from

Attracting Private Investment


Investors are telling us what they want

Investors are telling uswhat they want.

  • Space Investment Summit

    • New York City – Financial District – 16 & 17 April 2007

    • Co-Hosts: Space Commerce Roundtable, Space Frontier Foundation

    • Supporting Organization: National Space Society

  • Space Venture Finance Symposium

    • Dallas TX - 24 May 2007

    • Host: National Space Society

    • Supporting Organizations: Space Commerce Roundtable, Space Frontier Foundation, and Others

  • Collaborative Investment Event

    • California - Autumn 2007

    • Coalition: SCR, SFF, NSS, California Space Authority, Alliance for Commercial Enterprises in Space (ACES), NASA Space Portal, Etc.

Attracting Private Investment


Investors want to manage risk

Investors want to manage risk.

  • Market Size & Breadth

    • Risk that market will not be sufficiently large or accessible

  • Residual Value

    • Risk of insufficient value remaining if project fails

  • Competitive Assessment

    • Risk of competitors’ taking market

  • Funding Availability

    • Risk that capital will be unavailable when required

  • Human Factors

    • Risk that management team or staff will be inadequate

  • Technical Viability

    • Risk that technical approach will prove ineffective

  • Legal/Regulatory Constraints

    • Risk of adverse government action

Attracting Private Investment


Investors want better approaches

Who/Why?

  • Creativity

  • Risk-taking

  • Intrinsic motivation

Investors want better approaches.

  • New product/service

  • Improved cost, performance, safety, reliability

What?

Entrepreneurial Innovation

How?

  • Identifying opportunity

  • Accumulating resources

  • Producing product/service

  • Marketing product/service

  • Building organization

  • Responding to government/society

Attracting Private Investment


Investors above all want markets

Investors above all want markets.

  • Solar Power: EO satellites, lunar surface ISRU

  • Propellant: EO depot, lunar surface ISRU

  • Communications/Navigation: EO satellites, cislunar network

  • Observation: Imaging of Earth & space, ground & space sites

  • Media: Advertising, entertainment, archive continuum

  • Structures: Habitations for EO, L1, lunar surface

  • Robotics: Orbital Express, lunar surface efforts

  • Transportation/Travel: Suborbital, orbital, cislunar, lunar

Attracting Private Investment


Transportation is a market enabler

Transportation is a market enabler.

  • International Space Station (ISS) utilization could stimulate demand for transportation.

  • Transportation availability could encourage ISS utilization.

  • Fully commercial Earth-orbiting platforms are also in development, which could benefit from the ISS “first step.”

  • COTS is a NASA public-private partnership for commercial Earth-to-Orbit vehicle development, funding Rocketplane Kistler (RpK) & Space Exploration Technologies (SpaceX).

  • Many entrepreneurs view Earth-to-orbit transportation as a stepping stone to the Moon and beyond.

  • Robust ISS utilization could create sufficient demand for non-U.S. as well as U.S. transportation services.

Attracting Private Investment


Interoperability expands markets

Interoperability expands markets.

  • Increased Supply and Demand

    • Larger supplier and customer base

  • Reduced Cost

    • Shared infrastructure & consumables

    • Increased competition in commercial markets

    • Decreased logistics overhead (i.e., fewer unique parts)

    • Enhanced reuse & reconfigurability (e.g., lander converted to propellant depot)

  • Enhanced Safety

    • Rescue

    • Repair

Attracting Private Investment


Interoperability involves standardized interfaces

Interoperability involvesstandardized interfaces.

  • Pressure vessels (any functional volume pressurized for human habitation: landers, habitats, rovers, logistics modules, etc.)

  • Electrical outlets and plugs

  • Liquid connectors for each type (e.g., water)

  • Gas connectors for each type (e.g., oxygen)

  • Data (e.g., Ethernet cables, RF/WiFi)

  • Airlock control panels

  • Spacesuit connections with habitat life support and environment control systems (servicing, recharging, umbilical operations)

  • Robotic manipulating mechanisms (robot to system interfaces)

Attracting Private Investment


Interoperability involves interchangeable items

Assemblies:

Life support

Power (management, generation, & storage)

Waste management

Thermal management

Crew interface panel (e.g., command & control station)

Airlocks

Command & data handling systems

Components:

Microprocessors

Valves

Tanks

Filters

Keyboards

Software

Fans

Computers

Pumps

Batteries

Solar arrays

Circuit boards

Antennas

Interoperability involves interchangeable items.

Attracting Private Investment


Government can encourage early market growth within limits

Government can encourage early market growth, within limits.

  • Purchase (anchor tenancy)

  • R&D investment

  • Incentives: tax credits, etc.

  • Legal/regulatory action: liability, property rights, etc.

Content & images provided by Howard McCurdy, Roger Launius, & Thomas Matula

Attracting Private Investment


Multiple use facilities attract more customers into markets

NASA Image

NASA Image

Multiple-use facilities attract more customers into markets.

  • Costs decrease through shared infrastructure, transportation, comm/nav, power, life support, etc.

  • Anchor tenants (bases, observatories, etc.) pave the way for additional users.

Attracting Private Investment


Multiple use technologies bring market profitability closer

Multiple use technologies bring market profitability closer.

  • Earth & Moon Technology Overlap

    • same products/services that yield near-term profits on Earth also yield longer-term profits on the Moon

  • Earth Profits Near-Term

    • improved undersea and underground robots in the energy and mining industries

  • Moon Profits Later

    • lunar robotic factory involving multiple industries

Attracting Private Investment


Attracting private investment for lunar commerce toward economically sustainable development

Entrepreneurial innovation offers new products and services.

Transportation is a key enabler.

Interoperability expands customer and supplier base.

Government helps markets expand.

Multiple-use facilities attract more customers.

Multiple-use technologies bring market profitability closer.

Market growth attracts investment, enhancing commercial sustainability.

Attracting Private Investment

NASA Image


For more information

For More Information

Paul Eckert, Ph.D.

International & Commercial Strategist

Boeing IDS - Space Exploration

703-414-6392

[email protected]

Mark Lorimer

Administrative Support Coordinator

562-233-6400 (cell)

[email protected]

Attracting Private Investment


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