Fueled by venture capital dollars and private investment, today’s successful launch and orbit by Space Exploration Technologies Corporation’s (SpaceX) Falcon 1 liquid-fueled rocket heralds a significant milestone in the private sector’s conquest of space.
The 8th Continent Project believes today’s event represents a clear signal to investors that the age of private sector commercialization of space (Space 2.0) has officially left the launch pad, opening the next era of space-related business development opportunities with earthbound applications and future profit potential.
SpaceX’s next launch will be a Falcon 1 carrying a RazakSat (a low-earth orbiting satellite for remote sensing). If successful, the Falcon 1 launch will be followed by a flight of the much larger Falcon 9 rocket, slated for liftoff in the second quarter of 2009.
SpaceX began with $120 million in capital ($100 million from founder Elon Musk and another $20 million from Founders Fund). The company has more than tripled its headcount in the past 35 months, growing from 160 employees in November 2005 to its present size of more than 500.
The 8th Continent Project would like to publicly congratulate SpaceX for its entrepreneurial spirit, grit and staying power that it has demonstrated with the achievement of today’s historic milestone.
Please see TechCrunch for more information as well as a video of the launch here.
The official SpaceX release can be found here.
Filed under: News, Public policy, Space 2.0 | Tagged: Elon Musk, Falcon 1, Founders Fund, RazakSat, Space 2.0, space exploration, SpaceX, venture capital
Orbital Sciences was the first private company to archieve Earth orbit, SpaceX is the seconnd one.