Is Space Tech the key to Earth's future? | H-FARM

Space has always sparked curiosity and wonder for humanity. It’s the ultimate frontier for testing our creativity and innovation.   The last 60 years have been focused on space exploration. The upcoming years will continue to do so, but the greatest effort now is on how to harness space for the benefit of Earth. High-res satellite data combined with AI & ML is powering innovation in climate science, agriculture, energy, security, and many other industries – from Earth observation for climate monitoring to satellite-based positioning for navigation to research and development for pharmaceuticals to robotics for brain surgery. The global space industry could grow to be worth over $1 trillion a year by 2040. (Source: Morgan Stanley’s Space Team) What are the rising stars of the startup scene? Some of the biggest VC rounds in 2023 include: $174 million for Germany-based Isar Aerospace, which helps launch small and medium satellites $200 million for San Francisco-based satellite developer Astranis  $100 million for Colorado-based Ursa Major, which is developing the next generation of rocket engines What about Europe? The European space tech startup ecosystem is now worth a combined €25 billion, with the UK, France, Germany, and Finland being the key hubs. The value of Italian Space Tech startups has now reached €852 million, up 18% from 2022. However, Italy ranks 4th in Europe by the number of Space Tech startups and only 11th by VC funding raised (source: European Space Tech lifting off report by ESA, E. Amaldi Foundation, dealroom.co). Private companies and governments have set audacious goals for returning to the Moon, launching space tourism businesses, colonizing Mars, and eventually, exploring outer space beyond our solar system.  Access to space has opened the door to extraordinary discoveries. As we look to the future, how can we take advantage of progress to accelerate innovation on Earth?

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