Does space present a business opportunity for the everyday entrepreneur? You might not be such a \u2018space cadet\u2019 if it\u2019s your dream to set up in space tech. Reaching for the stars is no longer the preserve of business giants with staggering budgets.<\/p>\n
Start-ups are noticing novel ways to serve the space industry and use space data, even finding out-of-this-world solutions to some of Earth\u2019s most complex problems.<\/p>\n<\/blockquote>\n
Here are six areas where space tech entrepreneurs have seen a business, environmental or humanitarian opportunity, and set about filling the gap.<\/p>\n
1.\u00a0\u00a0 Understanding the developing world needs accurate data<\/h2>\n
Swedish start-up Ignitia uses satellite data to solve a problem that affects farmers in tropical countries such as Ghana, Nigeria and Mali. Weather forecasting techniques designed for northern latitudes don\u2019t work so well here because there are fewer ground observation stations, and tropical weather behaves differently.<\/p>\n
Ignitia runs simulations of tropical convective patterns on a cluster of supercomputers, using satellite data to pinpoint farmers\u2019 locations<\/a>. They send each farmer a 48-hour forecast by SMS, accurate to within 3 km. A study found farmers who used Ignitia reported a 65 percent increase in yields<\/a>.<\/p>\n
Climate Edge is a social enterprise with similar aims but different methods. They realized farmers in areas hard hit by climate change found it hard to adapt without digitized data. Climate Edge uses a small weather station to collect data about farm conditions<\/a>, like soil temperature and humidity, and transmits it through the 2G cellular network. With the ability to log and monitor conditions that determine farms\u2019 yield and produce quality, NGOs could make the right investments to make a difference.<\/p>\n
2.\u00a0\u00a0 Making tech because you can, then figuring out who needs it<\/h2>\n
While Climate Edge and Ignitia were inspired to do something about environmental problems, successful businesses sometimes come out of developing technology without knowing who needs it.<\/p>\n
A group of ex-military and space program scientists, CyStellar first created a platform that combined satellite, airborne and ground sensor data<\/a>. Later, they developed a series of products that applied the information in useful ways for industries from wine to shipping.<\/p>\n
One of their products, InsurTech, detects and monitors objects and geographic features over time, reporting even minor changes. It means insurance companies can more accurately determine risk, charge more appropriate rates and detect fraud. For customers, it means they can claim more quickly, as the system provides evidence and information the customer would otherwise need to collect.<\/p>\n
3.\u00a0\u00a0 Revealing what\u2019s previously been hard to see<\/h2>\n
Entopy is working to make the supply chain more efficient by using geolocation and GPS<\/a>. They aim to give logistics managers full visibility of their supply chain, breaking down the silos of different companies involved, such as factory, shipping, warehouse and retailer \u2013 all without any party having to change their tracking system.<\/p>\n
Supply chain visibility can save time getting goods to market, reduce losses and reduce the administration in communicating between companies.<\/p>\n<\/blockquote>\n
Finland\u2019s ICEYE has an eye on shipping safety, among a range of other applications. They use small satellite synthetic-aperture radar (SAR) technology<\/a> to give ship captains detailed information on the sea ahead, which may be hidden by fog or darkness. The technology also tracks icebergs and predicts their future movement.<\/p>\n
4.\u00a0\u00a0 Helping cities reduce congestion and environmental impact<\/h2>\n
As cities change and grow, so too must their infrastructure.<\/p>\n