Finance Space

The first space accelerator in Australia will showcase startups as part of the company’s expansion goals

As it seeks to secure its next fund, Moonshot, Australia’s first space-focused accelerator, will present five entrepreneurs to foreign investors on August 6. With Moonshot’s help, these companies have been constructing space firms over the past four months, according to the incubator’s founder and Chief Executive Officer Troy McCann.

Arlula, a Sydney-based company that develops software to simplify it to acquire space data from various satellite operators, participates in the free online event. Since its inception in 2017, Moonshot has expedited 25 space startups and completed ten investments, and Arlula has received $50,000 in funding. Moonshot has also backed Exodus Orbitals, a Canadian business that hopes to put an open satellite platform into space early next year.

Moonshot differs from many other space accelerators, according to McCann, because every investor in its fund also serves as a mentor for its programs, pledging to offer their expertise and networks. Andrew Aldrin, son of astronaut Buzz Aldrin and Chief Executive Officer of the entrepreneurship-centered Aldrin Space Institute in Florida, is an investor and mentor.

Chief business officer of Axiom Space, Amir Blachman, a US commercial space station enterprise, and the Executives of Fleet Space, Australian small satellite operator, and rocket manufacturer Gilmour Space Technologies are among the others. Along with the industry’s booming startup ecosystem, an increasing number of accelerators have emerged in recent years. Space Capital in the United States and Seraphim Capital in the United Kingdom, which raised around $250 million after listing its financial trust on the LSE (London Stock Exchange) on July 14.

Starburst Aerospace, a U.S. accelerator, informed SpaceNews in May it was in discussions to collect $50 million this year. The money is to be invested in space businesses, using its deep ties with governments and experienced firms. One of the ways Moonshot distinguishes itself from other accelerators, according to McCann, is by keeping established companies at arm’s length. “A balance between involving primes as a possible source of propellant for our activities and the objectives of our founders is one of the difficulties Moonshot is always wrestling with,” he said.

“They’re acutely aware of competing business objectives when they’re in an accelerator or working with a new investor — and we’ve seen multiple businesses be burnt by this dynamic elsewhere — therefore, we ought to be clear that all sources of financing and support are completely aligned.”

This post was originally published on Downey Magazine