The Global Entrepreneurship Network today announced a new effort to help stimulate the creation of startups and scale-ups focused on entrepreneurial opportunities in space. Stephan Reckie, an entrepreneur and angel investor active in the industry, has been tagged to serve as the Executive Director of GEN Space.
“The rapidly approaching opportunities for space travel – with companies like Virgin Galactic and SpaceX – are grabbing all of the headlines,” said Reckie. “But the industry is only ramping to take off and there is a massive opening for entrepreneurs at every level targeting commercial opportunities for innovative and impactful space based products and services.”
According to a recent Bank of America report, the space market is approximately $350 billion today but is projected to bypass $2.7 trillion within 30 years.
Tapping into a global network that reaches 170 countries, GEN Space will focus on connecting existing and nascent space entrepreneurs with relevant government agencies, industry sectors and strategic investors to promote collaboration and help increase the viability of space commerce.
The program will maintain a market focus on companies that are directly tied to the space industry, those that are space-related, such as launch providers, space data sources, and space exploration companies, and those that serve a traditional market today but that could have space applications in the not-too-distant future. GEN Space will provide an online border-less community and forums for the global space ecosystem, as there are no borders in Space.
“Throughout the years, space exploration has led to technological innovations that have not only created new markets but measurably improved our daily lives,” said Jonathan Ortmans, president of the Global Entrepreneurship Network. “Through GEN Space, our aim is to help connect and strengthen emerging ecosystems while steering space entrepreneurship to solve society’s greatest challenges.”
Reckie leads a trust-based angel investor network and serves on the board of directors of numerous companies. Over the past five years, he has personally made over 40 impactful investments, including several NewSpace companies. He also is the co-founder of Edge of Space, a company committed to making the adventure and excitement of space flight and science available and affordable to all, especially in the classroom.