Prizes as a driver of commercial space innovation, case study: The Business Plan Competition

Paper number

IAC-12,E6,2,5,x14584

Author

Mr. Thomas Olson, Exodus Consulting Group, United States

Year

2012

Abstract

Since 2004, when Scaled Composites won the US$10 million Ansari XPrize, prizes have become more and more accepted as a useful driver of innovation in the commercialization of space activity, and the development of new capabilities. From NASA's Centennial Challenges to the Google Lunar XPrize, millions of private investment dollars have been risked in hopes of greater rewards.

A new strategy has now emerged in hopes of stimulating further commercial space technology development all the way to the startup level - the business plan competition. Entrepreneurs compete to present their ideas in front of judges panels composed of angel investors, venture capitalists, and business development leaders. While prizes range as high as US$100,000 for first place, the opportunity to make contact with a room full of interested investors is in and of itself a victory.

The author, a veteran project manager of several such competitions, explains how BPCs are the next wave in developing NewSpace commercial technologies.

Abstract document

IAC-12,E6,2,5,x14584.brief.pdf

Manuscript document

IAC-12,E6,2,5,x14584.pdf (🔒 authorized access only).

To get the manuscript, please contact IAF Secretariat.