SpaceX. Blue Origin. Virgin Galactic.

These are just a few of the high-profile businesses set to disrupt the multi-billion dollar commercial space industry in the coming years. While they may not be well known to the general public some of today’s most successful entrepreneurs  — Elon Musk, Jeff Bezos and Richard Branson — are sinking millions into this new-age market.

Startup space

 
Investment in the industry is taking off and it’s not hard to see why.  These days companies can explore space like never before thanks to better technology, cheaper products and lighter materials.  According to CNBC, in 2016 investors pumped $2.8 billion into space-related businesses last year.

Today’s most prominent space enterprises range from one-stop satellite shops to do-it-yourself space travel companies. Kepler Communications is one of the few Canadian startups competing (and succeeding) in the cut-throat business. 

Accelerating outer space success

 
Of course, that doesn’t mean it’s easy for newcomers hoping to succeed in the industry. The space market is capital intensive and requires deep pockets to fund research and cover costs. Thankfully these days a series of space-focused accelerators and incubators are hoping to fix that.

In the last five years, global programs — like Starburst, Space Startup Ecosystem, Lightspeed — have focused on helping astropreneurs get their business off the ground.

While the future is always unknowable, because things change growing support is a good sign for entrepreneurs entering the market. To learn more about the growing space market and how Canadian co-founder Mina Mitry found success listen to the latest BusinessCast episode, hosted by Robert Gold above. For more from BusinessCast, make sure to visit our official iTunes page.

The DMZ is a leading business incubator for tech startups in Canada. They help startups build great businesses by connecting them with customers, capital, experts and a community of entrepreneurs and influencers.

The DMZ is a partner in StartUp Here Toronto.