Space Investment: Creating a Viable Industry - Panel discussion
- Lon Levin (Co-founder, XM Satellite Radio)
- Hoyt Davidson (Near Earth LLC)
- Diane Dimeff (Center for Space Entrepreneurship)
- Robert Jacobson (Space Angels)
- Lawrence H. Williams (Capture10)
Comments on what they first see in a new business presentation -
- Can my Mom understand the basic idea?
- Look at management first.
- Over enthusiasm for space can be a turn off form many investors.
- Try to find a convincing market but this is not always possible, e.g. early cell phone market studies only predicted a few hundred thousand users.
- Satellite radio also showed little promise in surveys
Discussion of exit strategies.
- Finding funding for hardware vs software, apps, etc (e.g. social networking)
- Most investment funds still drawn to internet, apps, etc.
- Try to build a great business, not a great space business
- Crowdsourcing - Nanosatisfy in biz plan competition raised $100k on Kickstarter
- Jobs Act removed many restrictions on crowd sourcing
- Legislation limits max invest $10k per person.
- A successful crowdsourcing campaign is a good sign of good marketing and the creation of a base ...