Shelli Brunswick How to Leverage Innovation and Entrepreneurship in the Vibrant Space Economy

Automatic Summary

Leveraging Innovation and Entrepreneurship in the Vibrant Space Economy

Hello, this is Shelley Brunswick, the Chief Operating Officer at the Space Foundation. I am thrilled to be a part of the Women Tech Global Conference which has united more than 100,000 women from 181 countries, creating a platform for impact and purpose.

Understanding the Space Foundation

Before delving into how you can leverage innovation and entrepreneurship in the space economy, let's get familiar with the Space Foundation. We understand space not as the final frontier but as the most vibrant, dynamic, and innovative economy accessible to all. Our mission revolves around three core pillars:

  1. Space Awareness
  2. Service to the Space Community
  3. Space Education

Whether you're an entrepreneur or someone seeking a career in the space economy, we've got you covered.

Space Technology: A Part of Everyday Life

Whether it's safety, medicine, transportation, energy, or communications, space technology surrounds us. Through continuous developments in space technology, we are improving life here on Earth – a testament to the idea that space is for all of us. Our vibrant space economy, valued at $415 billion, is projected to grow 1 to $3 trillion by 2040, with commercial space ventures accounting for 80% of this economy. This implies that businesses, entrepreneurs, and workers in diverse fields from STEM professionals to artists and market experts, all have a place in the space economy.

Becoming a Part of the Space Economy

With thousands of NASA technology patents waiting to be developed, the question isn't why but how you can be part of the space economy. There are vast entrepreneurial opportunities, but the path to participation isn't restricted to entrepreneurs - there are also endless opportunities in career fields within the space economy.

Promoting Diversity in the Space Economy

In discussing the space economy, it's important to address the need for increased diversity. We need to invite participation from underrepresented groups such as minorities, women, veterans, and retirees. Everyone has a place in this vibrant and growing sector.

Emerging Technologies and the Space Economy

Emerging technologies play a crucial role in the space economy. Data analytics, robotics, miniaturization, healthcare, and more, all contribute to the space technology ecosystem. And, if you're looking to become an entrepreneur in one of these areas, the NASA technology transfer office is a great place to find patents waiting to be developed and brought to market.

Breaking Through Challenges in the Space Economy

Despite the bright prospects, several challenges could hinder the space economy's growth. The innovation gap, workforce shortage, and skills deficit are significant issues. While there are more job openings in the space economy than active applicants, the imminent retirement wave among baby boomers presents a problem.

Furthermore, skills deficits exist as well. The perception that space is solely about astronauts and launch vehicles discourages potential contributors. We need individuals skilled in manufacturing, data analytics, robotics, business administration, and financial management.

To tackle these challenges and facilitate entry into the space economy, we recommend encouraging space careers in schools and promoting continuous learning. It's equally necessary to bridge the gap from high school and college to the professional workforce through apprenticeship programs, internships, and mentorships.

Conclusion

We envision the space economy growing rapidly in the next 20 years with the collaborative effort of diverse groups. You can participate in this growth as an entrepreneur or as a career seeker. Join us in contributing to the vibrant and dynamic space economy!

For more information, feel free to visit the Space Foundation website. Let's contribute to our collective future, a future where space truly is for all of us.


Video Transcription

Well, hi, I'm Shelley Brunswick. I'm the chief operating officer here at the Space Foundation and I'm honored to be part of the Women Tech Global Conference. United 100,000 women with purpose and impact 181 countries are participating 200 plus speakers, 100,000 active members.

A special, thank you to the sponsors who've made this event this week possible. Thank you. Today, I look forward to talking about how to leverage innovation and entrepreneurship in the vibrant space economy. How many of you are familiar with the Space Foundation? Well, I thought instead of telling you about the Space Foundation, I'd show you what we do every day. So it's a pretty exciting place to work because space today is for a better tomorrow. We at the Space Foundation, you know, believe space was once considered the final frontier and only accessible to a select few. It's now home to the most vibrant and dynamic and innovative economy on the planet. Our mission at the Space Foundation is to inspire, educate, connect and advocate on behalf of the global Space community. And our three core pillars are about space awareness service to the space community and space education. Today, I want to talk to you about the innovation and entrepreneurial areas of space and how space technology has become part of our everyday life. But instead of showing you some slides and talking to you, let me show you a quick video about space technology,

space technology, it's all around us, think safety, medicine, transportation, energy, communications, and thousands of products we enjoy and depend on every day. Technologies originally developed for space exploration, make life better here on earth. The Space Foundation wants you to know space is for all of us, learn more at space certification.org.

That's right. Space is for all of us. The global space economy is $415 billion and it's projected to grow 1 to $3 trillion by 2040. And we want you to be part of that space economy in the United States. 80% of that space economy is commercial, that means it's businesses, it's entrepreneurs and it's all workers. It's the entire workforce from manufacturing in the supply chain to artists, to stem professionals, to business and marketing experts. Everyone has a place in the space economy.

The great part is there are thousands of NASA technology uh patents that are waiting to be developed as well as other technology. So let me show you how you can be part of the space economy, whether as an entrepreneur or you want to find a space career as I mentioned, there's an opportunity for everyone and it's really about lifelong learning. We need to reach out to kids while they're still in school so that they can understand the great space careers that are available to them and the opportunity for entrepreneurship. So we need to bring space entrepreneurship and education into the everyday classroom. We need to help bridge the gap from high school, junior high and college into the professional workforce with apprenticeship programs, internships and mentorship. And we all know that technology continues to evolve. So we as professionals need to continue to look to reskill and upskill as technology continues to advance one of the areas we notice though in the space economy is we need more diversity, we need more underrepresented groups such as minorities and women veterans and entrepreneurs that and retirees.

So there's a place for everyone in that space economy. When I talk to you about the space economy, you're probably wondering about emerging technologies and how those play into the space economy. You're thinking astronauts and launch vehicles. But when you look at this list of emerging technologies, data analytics, robotics, miniaturization, health care, all of these areas play a role in space technology. And if you're wondering how could I be an entrepreneur with some of these areas of technology? The first place you could look if you don't already have an idea for a technology to develop is you could go to the NASA technology transfer office here you'll find thousands of p that are waiting to be developed and brought to market. And again, these range from agriculture and transportation and public safety to more. So again, there's great opportunities if you want to be an entrepreneur or if you want to be part of that business ecosystem. Let me show you some of the technologies that have been brought to market over the last 30 years. That's right. There's a place for you in the space economy. So we know that we anticipate the space economy to grow to 1 to $3 trillion in the next 20 years. But what might be holding us back from reaching that objective? Well, we've talked about the innovation gap with thousands of patents that are waiting to be developed.

There are two other areas, there's the workforce shortage and the skills deficit. We know that there are more space economy, job openings than there are active applicants, seeking jobs. We also know that there's a large group of baby boomers that are looking to retire in the next few years. And then we also know we need to bring more diversity into the space economy with minorities and women and other underrepresented groups. We also have a skills deficit. There's a perception that space is about astronauts and launch vehicles and that is certainly a part of the picture. But that's not the only part. We also need individuals who are in manufacturing and data analytics and robotics. Business administration and financial management.

So we're looking for all skill sets to become part of the space economy. I also shared earlier that it's about education, we need to drive these space careers into schools so that Children understand the opportunities that are available to them so that they can prepare the robust market of space economy jobs. For this reason, the Space Foundation has launched our Center for Innovation and Education, creating and delivering inclusive innovative and sustainable workforce development and economic opportunity programs so that all people can participate in the space economy. The Space Foundation has been in business almost 40 years and we bring together the entire stakeholders that relate to the space ecosystem, that's businesses, government, academia and local communities. And we look across the entire workforce pipeline students, young leaders, entrepreneurs and professionals, how do we do this?

But I like to say we do it through the three PS people programs and partnerships. So this slide really talks about our partnerships in the fundraising activities. Um It's a fundraising scholarships, grants and our partners relate to government, commercial and universities and I'm gonna show you a couple of examples in a minute. What I like to show here is our workforce development roadmap. The roadmap follows five core disciplines designed to combat the obstacles standing in the way of building a qualified space workforce. You have to have awareness that there's an opportunity to even come into the space economy. You have to have an access point to enter the space economy.

There has to be training, connecting as well as mentorship. Sometimes, mentorship is the first step that helps break down those barriers and lead you to the other four core disciplines. Because mentors can provide awareness, access training and connecting again, the space foundation, we look at the entire workforce pipeline, today's workforce, as well as the workforce of the future. This is how our process works. You're on the center of this sphere, on the center that says Space Foundation and you're looking out and you're saying, who is the audience I want to reach? Is it young professionals? Is it underserved communities? Is it young leaders? Is it teachers? And once we understand the audience you're trying to reach, then we go out to the next circle and we say, what is the outcome goal or objective you're wanting to accomplish? Is it upskilling or reskilling connecting immersive education? Once we understand the goal and objective, then we go to the next outer circle and say now we can look at creating a robust program that meets your needs and we at the Space Foundation may not complete all of it. We may partner with others to make that program as robust, to accomplish your goals. In the outer part of the sphere you can see in the white areas again, all these areas are part of the space economy, finance, energy, agriculture, the internet of things public safety.

Let me get go through one of our examples of how this works. And again, it's about programs, people and partnerships. So this program is called the Space Commerce Entrepreneurship program. Our partner was a government agency, the Department of Commerce Minority Business Development Agency.

And the people we wanted to reach were underserved entrepreneurs and small business leaders. And, and we reached out and we were able to connect with 275 plus underserved entrepreneurs and business leaders. We provided workshops around the United States and we have online webinars that are free and accessible to anybody that wants to learn about being an entrepreneur in the space economy. This is one of the companies and their success story. After going through our program again, I highlight that they went through the five core disciplines of our workforce development, roadmap awareness. They became aware of the program from the minority Business Development Agency. They gained access and online support um through commercial enterprises that the Space Foundation was able to connect them with at our annual Space symposium that brings the entire global space community together. They received training at the workshops and the online webinars and they received mentorship.

In this case, the mentors were space leaders that helped this company realign their strategy, realign the product service they were gonna deliver and at the end of the process, they were awarded multimillion dollar contracts. Another program that we offer again, it's programs people and partnerships.

This program is our junior space entrepreneurship program. People we wanted to reach out to were students, teachers, school administrators and mentors and our partners were Lockheed Martin NASA and junior achievement. Again, this program followed our same workforce uh development road map in the five core disciplines of creating awareness, building, access, providing training. And in this case, these students were becoming entrepreneurs. So not only did they do the stem to send an astronaut to Mars and bring them back then, they became a company and they had to come up with a commercialized product. So they also had to build prototypes and learn about business plans and marketing. They were connected with real world uh practitioners and then they had mentorship and the junior Space Entrepreneurship program was a winner of the fast company, honorable mention for 2020 World Changing Ideas Award. So what can you do today? How can you be part of the global space economy, whether as a career looking for a career in the space economy or as an entrepreneur? Well as I said, if you want to be an entrepreneur, one place you could go is the space foundation.org website. And you can take a look at those 15 online webinars in our space commerce program. Perhaps you're looking for a mentor and you could go to the United Nations Office of Outer Space Affairs, Space for you.

Uh Space for women mentor network program where there are 35 mentors around the world that are looking to help you find your place in the space economy. You can connect with others and build your own partnerships and collaborations and find mentors by joining organizations such as today's women tech global um conference or you could join women in aerospace or society of women engineers and many others. Again, it builds that connection, helps you find mentors, they can drive you then in the right training and other opportunities. And you can participate in events like the annual Space symposium that the Space Foundation offers in our annual women's global gathering. You can find more information by going to the Space Foundation website. Um You can become a champion, donate partner or take any of our programs and you can reach out to me on linkedin at Shelley Brunswick. What I'm gonna do is uh download my slot, take down my slides now and I'm gonna look and see at some of the questions that might have been asked. So I have um I have Christina. Hello? And I have no. Well, it's nice to meet you. You're from Saudi Arabia. I'm glad you're here too. And um you're a woman tech mentor. That's fantastic. I have Derek um You're a professional and you wanna get involved in the ecosystem. What advice would you give to get more connected? So, again, this conference is a great event.

You could also look at other events that help bring your group together. And what you're interested in is it uh well, obviously not women in aerospace is open to men and women, Derek. So I will put that out there. But there are other groups that you could look at that help will help you connect. You can look at online resources. Uh As I said, if you want to be an entrepreneur, the Space Foundation has some webinars you can take. So there's lots of resources that you can find to find a mentor and connect with groups globally. Uh Jamie, thank you for the nice comment. And Susannah, um Do you have any advice for international students looking for Space Centered opportunities? That's a great idea. Again, one of the first places I would recommend you go, Susannah is the United Nations Office of Outer Space Affairs, Space for Women Mentor Network. And you could just Google that Un O Os A Space for women and that will come up and there, you can find a lot of information and resources and, and if you'd like to find a mentor, you can look at the various mentors and see if you have um they provide mentorship in something you're interested in doing and you could then go ahead and request that individual to be your mentor.

So I hope that gives you some direct information, Susanna on how you can do Joaquin. How are you? You moved to Colorado? I'm glad you're following your dreams. Congratulations. Welcome to Colorado. Um You're a physics engineer and I would love to further know you. Wonderful.

Please reach out to me. I'm on linkedin. You can connect with me there. Um So thank you for reaching out Derek. I'm glad uh you joined us and I'm hoping you join us at space symposium as well. So please look forward to that. Thank you Jody. I appreciate the kind comment. I have one more minute and uh I can probably get in one more question if there's anyone else Toria. Thank you again. I appreciate your kind comment, Derek Shaw. You've been fantastic, Susan. Thank you so much for uh sharing that information with Derek for me. I I appreciate you jumping in and helping me. Kate is a pleasure. I'm glad you enjoyed the presentation and Laurie, I'm glad you enjoyed the presentation too. So I hope this has been wonderful. We'll go ahead uh when available and make this presentation uh publicly available. We also have more information at our space foundation.org Black backslash cie for our Center of Innovation and Education. And we hopefully can provide you with more resources on online programs, not only in entrepreneurship, you can bring more space technology into the classroom as a teacher or as a parent. So, thank you very much. This concludes my presentation.