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Oxford Space Systems │ UK Space Cluster │ Harwell OX11 0QR │ United Kingdom
www.oxford.space [email protected]
FROM EARTH TO ORBIT:WHY ARE WE YET NOT GOING ON HOLIDAY IN SPACE?
SHEFALI SHARMA – BUSINESS DEVELOPMENT
Company overview
> Founded in Sept 2013; seed funding secured Jan 2014> Developing a new generation of novel deployable space
antennas, booms and panel arrays> Origami & proprietary materials combined to produce
products are lighter, less complex & more stowage efficient> Significant IP developed: 5 patents applied for> A growing diverse team of experienced industry experts &
highly talented graduates (FTs: 26; currently recruiting) > Commercial traction: contracts with HMG, SSTL, Airbus
Defence & Space, Thales Alenia Space, LuxSpace, DSO Labs (Singapore) + Tyvak (USA)
> Showcase NewSpace company for UK Space Agency and Innovate UK
OSS’ STORY SO FAR…
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Challenges of developing Technology for space
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› There are currently 2, 300+ registered satellites orbiting Earth
› This is forecast to treble in the next 5 years
A GROWING DEMAND FOR SATELLITES
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U.K. TODAY> 28,900 employees> €11 Billion (EURO) sector T/O> 7.5% average annual growth rate
2030 TARGET> 10% of global space economy > 100,000 new jobs > €48 Billion (EURO) sector T/O
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Two biggest factors: size & weight
Launch is expensive:£50,000 / kg Payload space is limited
From Old Space TO the New Space AGE
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Data from Space Angels (US)
> Transition from traditional space missions that were the preserve of governments & very large companies to entrepreneurial ‘New Space’
> Cost of space hardware (e.g. electronics) has fallen in price significantly, whilst increasing in capability
> Net result: lower cost microsats (<200kg) can provide data of significant commercial interest
> Explosion in space data available has kick started entrepreneurial downstream (data application businesses) as well as upstream (satellite builders) to provide the data
> Cost competitive access to space remains one of the sector’s biggest challenges –hence significant private investment
> Non-traditional investments from Jeff Bezos, Robert Bigelow, Richard Branson and Elon Musk into launcher market
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Data from Space Angels (US)* -Jan 2017 to Sept 2017
Year to Date (YTD*) Investments
> Old Space is set up to service space missions characterised by:• Long, expensive development cycles• High value• Risk aversion• Long mission life• Bureaucratic (often involving multiple collaborators in many countries if ESA)
> New Space needs missions that appeal to investors:• Short, aggressive development cycles• High value• Appetite for risk – mission use to showcase disruptive innovations• Low bureaucracy• If collaboration needed, like minded entrepreneurial companies
New Space tends to focus on Low Earth Orbit (LEO) opportunities
DIFFERING VIEWS OF THE WORLD AND OPPORTUNITIES
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> Repeatedly, large, well placed market-leading incumbents fail to seize new market opportunities
> New entrants emerge, often unnoticed, until dominant market share is lost by a surprised market leader
> Loss of market share triggers changes in management teams in the incumbents and new strategies formulated
> Strategies that reward short-term gains discourage middle management from taking risk and/or visionary, longer term thinking
> Large companies need a well defined, highly analysed business case before redirecting resources – asymmetrically focussed on serving exiting high-value customers with incremental, well understood improvements
WHAT HISTORY HAS TAUGHT US…
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New Space(Early stage, growth phase)• Headed by entrepreneurial founder(s)• Dynamic, fast paced & high risk• Disruptive technology and/or business model• No ‘passengers’ on team• Multiple responsibilities• Cash & resource constrained• Able to rapidly pivot to seize new opportunities
Old Space (Mature incumbents, operational phase)• Risk averse and bureaucratic• Locked into incremental improvements• Silo existence – well defined job description • High inertia – slow to react• Well resourced but struggle with allocation• Career for life?
OLD SPACE VERSUS NEW SPACE COMPANIES: ATTRIBUTES
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CONTACT US:
Oxford Space SystemsElectron BuildingHarwell Space ClusterHarwell OX11 0QRUnited Kingdom
+44 (0)1235 567 999
FOLLOW US:
www.oxford.space
@OxfordSpace
Search for “Oxford Space”
