Thursday, October 23, 2008

The New Space Economy

Is there an economic downturn in space? - VentureBeat - Jeff Foust on Space Investment Summit 5 and the current economic situation:

Nine companies presented their business plans at SIS5, ranging from suborbital launch vehicle developers to medical monitoring ventures hoping to convert space technology. Each had a different goal and a different experience with investors. Celestis, a startup that launches cremated remains into orbit, was looking for only $1 million in funding to make some key hires and roll out a marketing campaign. At the other end of the spectrum, Astrobotic Technology, one of the teams competing for the Google Lunar X Prize, is asking for $60 million to develop the first of a series of lunar rovers.