Day 3 Key Sessions (continued)
9:45AM Business Model Innovation: Space Economy Ecosystem
Minoo Rathnasabapathy MIT Media Lab
This workshop explores the space economy ecosystem. We will delve into the economic foundations, foresight approaches, and sustainable development strategies necessary to build this nascent market. The discussion will examine the challenges and opportunities of applying ‘terrestrial’ innovation models to space, aiming to avoid historical pitfalls. Through interactive dialogue with our interdisciplinary, cross-industry delegation, we leverage diverse expertise to identify actionable insights for developing products, services, and markets within the space economy. We conclude by highlighting key ideas for potential implementation, with a follow-up session planned for July 21st to track progress and refine these concepts.
Vik Shayam NASA
Kara Cunzeman The Aerospace Co.
Calls to Action
Defining the Current Space Economy: • Overview of key sectors: Biomanufacturing, Mining, Manufacturing, Energy, Telecom, Governments, and emerging “white space” opportunities. • Analysis of the near-term convergence of space and earth economies. Economic Foundations and Foresight: • Examining historical human approaches to economic ecosystems and their relevance to the space economy. • Discussing the role of initiatives like DARPA in shaping lunar and space economies. • Strategies for avoiding learning pains and building sustainable, renewable ecosystems. Innovation and R&D in Space: • Exploring innovative thinking processes and their application to the space sector. • Analyzing the pros and cons of incremental versus breakthrough innovation. • Understanding the scale of innovation as it relates to time and space. • Reviewing cross-industry, interdisciplinary lessons learned on incremental, breakthrough and ambidexterity.
Cross-Industry Engagement and Collaboration: • Facilitating audience engagement to leverage diverse expertise from various industries and sectors. • Discussing how different industries can contribute to and utilize the space ecosystem. • Exploring the role of innovation and R&D in developing space-related products and services. Actionable Insights and Future Steps: • Identifying and highlighting top ideas from the delegation for potential production and implementation. • Planning for a follow-up session on July 21st at the FEI Continued virtual event to discuss progress and refine concepts. • Emphasis on “fail and fail soon” and “go big or go home” mentalities, and the correct application of each.
60 • FEI25
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