Space Frontier Foundation and NASA Announce $110,000 in NewSpace Business Plan Competition Prizes

Space Frontier Foundation and NASA Announce $110,000 in NewSpace Business Plan Competition Prizes

February 2, 2012 Press Releases

Nyack, NY – The Space Frontier Foundation will host the annual NewSpace Business Plan Competition during its NewSpace 2012 Conference at the NASA Ames Research Center in Silicon Valley on July 26-28. The competition helps entrepreneurs creating startups and firms that develop problem-solving and game-changing technologies in support of the NewSpace space industry.

As many as 10 finalists will present their plans to a distinguished panel of judges, featuring venture capitalists, angel investors and business development leaders. They’ll receive professional feedback and exposure to the public, press and investor community. The winner will awarded a $100,000 Grand Prize funded by a grant from NASA Ames. This grant also funds a $10,000 Second Prize.

“As NASA’s Silicon Valley center, we’re continuing our tradition of supporting entrepreneurs and encouraging the venture capital community to become familiar with the new opportunities that are emerging in space,” said NASA Ames Research Center Director Pete Worden. “Part of our role is to encourage economic growth and development and at NASA, we look to build on some of the nation’s strongest assets to do so – including our skilled technical workforce, our commercial creativity and our entrepreneurial spirit.”

This Competition is seeking entries from seed, startup or early-growth firms from the following fields:

Entrepreneurial space: Those firms directly involved in launch systems hardware technology and supporting infrastructure, including data acquisition, communications, exotic fuels, space suits, flight safety, etc.

Space-related: Process engineering, power systems, bioregenerative systems, tourism, media, software and other supportive solutions.

Space-scalable (New!): Technologies primarily developed to solve problems here on Earth for commercial benefit and profit, but are also scalable to solve key long range space problems when the demand ultimately exists. Technologies that help make the settlement of the space frontier a reality. This could include biotechnology, nanotechnology, medicine, radiation mitigation, smart materials, alternative energy or next-gen IT hardware, among many other possibilities.

Regardless of niche, applicants must be able to explain why their product or service helps with the economic development of space. Entries must have at least 51% US-citizen ownership to qualify.

This competition wishes to assist and showcase new startup and expanding firms that demonstrate both the ability to make money and contribute to the commercial development of space, advancing the NewSpace movement.

Companies wishing to participate are asked to submit an “Intent to Compete” by April 20th, 2012. 3-5 page “Executive Summaries” must be submitted by May 18th, 2012, in PDF format to businessplan@spacefrontier.org. Entries must adhere to the parameters outlined in the competition rules to be considered. Finalists will be announced publicly on June 8th. Competition details and rules can be found at www.newspacebpc.com.

Companies selected to present at NewSpace 2012 will be required to arrive no later than 9AM Wednesday, July 25th for a 2-day “Boot-Camp.”  This includes presentation dry-runs, and practical guidance and mentoring from investors and business professionals. Final presentations in front of the judges will be on the morning of July 27th, with the winners announced the evening of Saturday, July 28th, at the NewSpace Gala.

“The dramatic growth of our business plan competition is a great source of pride for everyone involved,” said Foundation Chairman Bob Werb. “Each year we have bigger prizes, more and better competitors and more prestigious judges. From its humble origins, the NewSpace Business Plan Competition has grown to be one of Earth’s premier events of its kind in any field of endeavor.”

NewSpace 2012 is a single-track conference focusing on entrepreneurial space activities. Sessions not only provide interesting presentations, but also to generate lively discussions among NewSpace entrepreneurs, established space industry leaders, NASA and military space experts, regulators, space policy advocates, the investment community and anyone else who wants to ensure humanity has a bright and abundant future in the space frontier.

Registration information and programming details will launch soon at newspace.spacefrontier.org.