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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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.

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.

www.spacecommerceroundtable.com

Space Commerce Roundtable

Space Frontier Foundation

National Space Society

Boeing Photo

Attracting Private Investment

3


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.

  • 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 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.

  • 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


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.

  • 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.

  • 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.

  • 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 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


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.

  • 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


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.

  • 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


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

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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