Revision March 2006 Alliance for Commercial Enterprises in Space COMMERCIAL SPACE FORUM May 16-18,...
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Transcript of Revision March 2006 Alliance for Commercial Enterprises in Space COMMERCIAL SPACE FORUM May 16-18,...
Revision March 2006
Alliance for Commercial Enterprises in Space
COMMERCIAL SPACE FORUMCOMMERCIAL SPACE FORUM
May 16-18, 2006Nasa ames research parkMoffett field, California
Revision March 2006
Alliance for Commercial Enterprises in Space
OverviewOverview
Alliance for Commercial Enterprises in Space
The Alliance for Commercial Enterprises in Space (ACES) will advance development and use of the space environment, with emphasis on the low Earth orbit environment, for all users (scientific, technological, and commercial), in order to more efficiently advance scientific knowledge, technological capability, and commerce on Earth as a gateway to 21st Century exploration and development of space.
NavAstro Company
Revision March 2006
Alliance for Commercial Enterprises in Space
KEY elementsKEY elements
Non-Profit InstitutionsNonprofit organizations are human-change agents. They are drawn to what Peter F. Drucker called the ‘high ground effort of changing lives for the better’ in a world of selfish interests.”
Commercial EnterprisesCommercial or industrial enterprises are established in order to perform economic activities and produce profit. The owners and operators of a business have as one of their main objectives to generate a financial return for their time, effort and capital.
Public InstitutionsPro Bono Publico organizations including governments can be change agents with regional, national and international impact.
Revision March 2006
Alliance for Commercial Enterprises in Space
DEMAND, CAPITAL, SUPPLY
how I learned to stop worrying
DemandExplorationFundamental ResearchApplied & Commercial ResearchRecreation & ExperiencesTerrestrial power, Telecom, Information, Images
ACES EXECUTIVE COMMITTEE
Mike Griffen * George Bush
COMMERCIAL SPACE
AndLove
CommercialSpace
Revision March 2006
Alliance for Commercial Enterprises in Space
June 21-22, 2005Santa Clara, Calif
Space Science Enterprise
October 5-7, 2005Moffett Field, CalifCommercial Space
Opportunities Forum
Participant Directed ActionsSummarize past successes, current
issues and opportunities Establish a fair facilitator, team
builder and enabler organizationIdentify multiple commercial
opportunities
Engaging THE commercial space industryEngaging THE commercial space industry
March 13-15, 2006Moffett Field, Calif
Simulated Space
May 16-18, 2006Moffett Field, Calif
Commercial Space Forum
Revision March 2006
Alliance for Commercial Enterprises in Space
Finding “Home Run”Investment Opportunities
Is it worth it? Large market sizeReasonable R&D investmentLarge projected profit
A Customer/Investor PerspectiveAlan Marty, June 21st, 2005
Is it real?Proven scienceManufacturable productLow government uncertainty
Can we win?Best management teamHigh competitive barriers to entry
Revision March 2006
Alliance for Commercial Enterprises in Space
Value not Apparent Until Late Stage
Average Company Valuation by Stage Average Company Valuation by Stage
$0
$100
$200
$300
$400
$500
$600
$700
$800
Pre-1ststage
1st stage 2nd stage 3rd stage Late stage IPO/M&A
Millio
ns
– Big MarketsBig Markets– Breakthrough TechnologyBreakthrough Technology– Real BusinessReal Business– Seasoned Management Seasoned Management
Corporate Positioning
Business Building Stage
2x
Supernormal Companies
Normal Companies
Exit Stage
Note: Analysis based on the investments of the 50 Note: Analysis based on the investments of the 50 largest independent VC firms.largest independent VC firms.Source: Venture Economics; Mergerstat; Compustat; Source: Venture Economics; Mergerstat; Compustat; SEC filings; McKinsey analysis SEC filings; McKinsey analysis
“The Nordic Model” offered by NORROC
Petter Kleppan, October 5, 2005
Revision March 2006
Alliance for Commercial Enterprises in Space
We are gathered here Today
We are building on past philanthropic, commercial and government investments that have moved university and commercial partnership IP and technologies past the pre-1st stage funding into 1st, 2nd and 3rd stages of development pre-positioning them to capture the services and product sales of the emerging space market.
Genesis of this workshop occurred in August 2005 prior to NASA’s restructuring of the SPD program.
We are not revisiting past funding models but seeking new partnerships for innovation and product development.
Revision March 2006
Alliance for Commercial Enterprises in Space
Moving forward
During this Forum we will show
Thank you to the following sponsors
National Aeronautics and Space Administration
California Space Grant Foundation
Explore business models and formulate implementation plans
Value Market size Proven science Manufacturable products Management team High competitive barriers to entry
HyNET
CSP
STC
CSEPS
CBSE
CSR
ITSC
CAM
ITD-PVT
MITAC
BioServe