Wednesday, February 27, 2008

Lunar Ventures with Earth Applications

CNBC has a press release about this year's Lunar Ventures student competition for space business concepts. Businesses with immediate application on Earth are encouraged. A lot of the press release covers last year's winner, Lumedyne Technologies, called Omega Sensors at the time they won $25,000 in the 2007 competition. Lumedyne's product is a small accelerometer with a number of Earth, and potentially space, applications. CEO Brad Chisum states:

Not only was Lunar Ventures instrumental in helping refine our business model, 8C made it possible for us to get an audience with the new Space Angels funding network and Space Investment Summit 3, resulting in $1 million in funding just one year after winning Lunar Ventures.