Why it is important to demystify business in Space

ife on the Moon and, who knows one day, on the other planets of the Solar System, stopped being a mere fantasy a long time ago to become a strong possibility in the near future. At a time when people are starting to talk about the first commercial trips to Space, it is important to know that there are many other forms of business about to emerge in the space sphere.

Space exploration is opening up new markets and creating new job opportunities, on Earth and beyond. According to Gary Martin, Vice President of North American Operations at International Space University, these possibilities are not only reserved for scientists and astronauts, but are being created "especially with the input of the private sector", by organisations and entrepreneurs.

"If we're talking about resource mining on the Moon, for example, we're talking trillions of dollars to be made. But if you're working on the moon, say, on a moon base, probably for a few months to extract this resource, you'll want to go home and have a beer, have a pizza. You'll want to have a comfortable home, have entertainment, art, maybe even live plants. You'll start listing all the things you take for granted here on Earth. Everything is a business. People who sell furniture on the moon or food, or plant trees to produce food, will have businesses. It's hard to explain how much opportunity there is!".

However, if life on the Moon or in Space doesn't mean much to you, don't worry: there are plenty of opportunities to build space businesses without having to leave your own home. For example, with space technology it is possible to start and help various businesses that already exist on Earth.

"All you need to build a business in this area is to have a computer. There is so much data! For example, regarding global warming, we did a project with farmers and vineyards - the data shows what will happen to a certain area where vineyards grow, which take a long time to mature. In California, new plantations are now being planned in anticipation of global warming."

‍

Curious? Watch the full conversation between Gary Martin and Ricardo Marvão, co-founder of Beta-i, to learn more about the potential of business in Space and get to know Nova SBE's unprecedented programme, Space for Business.