Entrepreneurship and Commercialization in the US New Space Economy

Abstract The new space economy is defined by a process of commercial disruption of existing government-led space activities. This chapter examines the role of entrepreneurial activity in that process. There are many parallels between the NSE and previous disruptive technology cycles. There are also unique aspects of the space domain that complicate entrepreneurial endeavors including facilities and capitalization requirements, regulations, national security interests, and geopolitical concerns. This chapter views those unique aspects through a historical lens. The analysis suggests that governmental influence and challenges with financing delayed commercialization attempts within the industry. Successful New Space entrepreneurs redefined the traditional relationships between the entrepreneur, investors, and customers. Incumbent firms responded with varying degrees of success. The chapter also compares the NSE “investment bubble” and “hype cycle” to previous technology industries and proposes opportunities for future research.