New business opportunities come from space
For the third time, the ActInSpace international business idea competition is taking place in Estonia in cooperation with Go2Space HUBs. This time, the online meeting will be held on 13-14 November.
The aim of the 24-hour brainstorming session happening simultaneously in 45 countries and 75 cities is to invent new business models for technologies developed for space and for the data collected by satellites on a daily basis.
ActInSpace took place for the first time in Estonia in 2016. The winner Airsplint used materials created for space conditions to make splints lighter and easier to transport. The winner in year 2018, SpaceTree, created an application, which uses remote sensing data from satellites to effectively forests.
Go2Space HUBs aims to support the creation and growth of new space companies and invest in the sustainability of existing space companies. In order to pursue these goals training is provided, companies participate in growth programs, co-operation is supported, networking events are hosted and support activities are carried out.
Science park Tehnopol, which runs Go2Space HUBs, added mentoring lessons worth 6,000 euros to the space cage prize fund, which will help the hacking house to turn the ideas developed into a real company. “Space itself is far away, but the products and services developed for it are very familiar to us. A good example of this is ear implants that improve hearing, bed mattresses that follow the body shape or braces that are almost invisible on the teeth,” said Kadri Tammai, the head of Tehnopol Startup Incubator. According to her, the space sector is a pioneer of practical innovation, and therefore Tehnopol also contributes to the development of the space sector by helping companies with both business models and product development.
According to Andrus Kurvits, member of the board at Tartu Science Park and the head of the European Space Agency’s Estonian incubator program, the ActInSpace business idea competition is a platform for exploring space-related business opportunities and springboards for further success for participants. “At first glance, space technologies seem inconspicuous and distant to the average citizen. Our experience to date shows that, in fact, smart technologies and space-based monitoring data collected by satellites can be used to deliver commercially viable services and products. We are doing everything we can to bring the message to Estonian startup business enthusiasts – space technology is not rocket science and there is a space solution for every earthly problem, ”added Kurvits.
What can be done in 24 hours?
This time, the organizers have proposed a number of exciting challenges to solve, which teams can use free of charge to implement a more serious business plan. Airbus, the European Space Agency (ESA), the French Space Agency (CNES), the French Defense Innovation Agency (AID) and local organizations have presented their challenges. For example, technologies or services are expected to be created to set up settlement on the Moon or solutions to improve indoor GNSS signal strength (ESA patent: PCT / EP2018 / 063660). People with both technical skills and entrepreneurs in general are expected to participate.
The main organizer of ActInSpace Estonia is Tartu Science Park. The organizer has awarded prizes to the most outstanding teams, and the representatives of the strongest team will have access to the pan-European business idea final competition in Toulouse, France. If interested, all participants can further their idea with the help of mentors and apply for the European Business Agency’s Estonian business incubator (ESA BIC Estonia) in November, which supports the launch of the solution with 50,000 euros: https://www.esabic.ee
This year, ActInSpace Estonian hackathon will be held in cooperation with Go2Space HUBs and its main organizers are Tartu Science Park together with science park Tehnopol. Tehnopol Startup Incubator adds practical mentoring advice worth 6,000 euros from the top performers in its field to the prize fund.
The hackathon’s operating language is English.