A space industry leader is warning that the government must be careful not to replace private investors as venture capital funding for space companies dries up during the pandemic
Venture capital funding has nearly dried up during the coronavirus pandemic and while the government must step in to help new space companies, it must be careful not to replace private investors who help drive innovation, a space industry leader warns.
“Spacecraft require launch, so it keeps launch healthy. If you only support one sector [like small launch], you might have three or four small launch companies, but there’s nothing for them to launch. Ultimately, that’s not sustainable,” said Beck, a New Zealand native who founded Rocket Lab in 2006 to make small satellite launch services available to a broader community at a cheaper price.
“That round was to weather any nuclear winter,” he said. “To be fair, global pandemic was not on my list of things that could have occurred. I was more thinking of blowing a rocket up on the launch pad.”What are you seeing in the new space industry during the pandemic? If you’re a start up and you don't have a year to a year and a half of runway or you don’t have a business actually generating good revenue, it’s a very difficult time. … There’s going to be a lot of potential failure in the industry.
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