Global Space and Technology Convention 2024: Highlights by Space Ambition
Executive Summary of Major Asian Space Tech Conference in Singapore.
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This was my second time attending the Global Space and Technology Convention (GSTC). This year, it took place from February 14th to 16th at the Sheraton Towers in Singapore. The exhibition floor was busier than ever, expanding to additional floors, with booths sold out many months in advance. After speaking with the organizers, I learned that they are planning an even larger space for next year's event.
This year, I played multiple roles: I assisted in organizing a masterclass and invited several speakers for the GSTC, represented Aloniq as a space tech investor, and wore my Space Ambition hat. Given these diverse responsibilities, I had the opportunity to view the event from different perspectives. Allow me to share my insights.
Generally regarded as the largest business-focused space tech conference in Asia, GSTC is typically sponsored by prominent companies like Airbus and features high-profile speakers from around the globe. Now in its 16th year, the conference usually attracts over 1,000 attendees, yet it still maintains a comfortable atmosphere for networking.
Notable Co-located Activities: Masterclass on Space Data & Financial Innovation, B2B Marketplace, and Innovation Workshop
The first day was filled with invitation-only events, one of which was 'Masterclass on Space Data & Financial Innovation' where I had the honor of presenting. This masterclass, jointly organized by SSTL and Plug and Play, was attended by top local and international banks and insurance companies such as UOB, HSBC, SwissRe, and many more. Two startups, SkyFi and Kumi Analytics, showcased their technologies tailored for financial services. While the integration of space tech in finance is not yet mainstream, it's gaining momentum. It was enlightening to hear real stories from startups about how their customers are leveraging space data in areas like commodities trading, insurance, and mortgage applications.
Following other events, SSTL organized a Global B2B Marketplace that functioned as speed dating in groups, where each table engaged in discussions on topics vital to the industry. I had the opportunity to moderate a roundtable discussion on Space Sustainability. It was fascinating to witness the diverse angles and perspectives shared by startups, government bodies, and investors. As a space tech investor, one intriguing observation was the comment that venture investment might actually be detrimental to the industry. It pressures startups to prioritize revenue generation over sustainability. Definitely something to think about.
In the afternoon, an Innovation Workshop co-organized by JAXA and SSTL brought together the Japanese and Singaporean space companies and investors, driving cross-country collaborations. It consisted of a pitching session featuring presentations from eight Japanese (including Mitsubishi and AWS) and four Singaporean space tech companies. Despite the room's capacity of 100 people, the session was oversubscribed, with attendees standing. Please find the list of the companies here for your information.
Conference Highlights: Luminary Sharing, Space Technology Investment, and Innovation Topics
The Luminary Sharing, which even included some singing, was delivered by Candace Johnson, an iconic figure in the space industry, serial entrepreneur, investor, and Chair of the Advisory Board and Partner at Seraphim Space Fund. I particularly appreciated her comment, 'What do you mean by "New Space"? If you're referring to a commercially oriented business, then I've been doing new space all my life before the term was even coined.’
Wearing my space tech investor hat, I was pleased to see many fellow investors in attendance, including Mark Boggett from Seraphim, Remi Choong from Elev8, Faraz Khan from Giant Step, Raphael Roettgen from E2MC, Vishesh Rajaram from Speciale Invest, and of course, our own Mark Shmulevich from Aloniq. There even was a space tech investment panel where we delved into a variety of intriguing topics, such as the typical investment horizon and how it differs from other venture capital investments (such a longer timescale as 7-10 years).
I was honored to moderate an innovation panel titled 'Advancing Innovation in Space Exploration – Robotics Redefined for Manufacturing, Materials, and Beyond.' It was a pleasure to lead a discussion with some of the most intriguing figures in the field, including Masayuki Urata from ispace, a Japanese private lunar robotic exploration company developing micro-robotic technology; François Dubrulle from Qosmosys, who is building deep space ships; Bernard Foing from LUNEX EuroMoonMars Earth Space Innovation; and Luke Gordon from Solestial, a company that is addressing the energy crisis in space by building solar panels for space applications. He was inspired to attend GSTC after reading my post from last year. Dr Mark Woods, Chief Strategy Officer, Executive Director, and Head of the Robotics, AI and Autonomy Group, Centre For Modelling and Simulation, South West Space Partnership was another panelist I had a pleasure to chat.
We delved into several fascinating topics, such as:
Who will be responsible for operations on the Moon - robots or humans? (both)
Are we facing a space energy crisis? (yes!)
What is our next destination after the Moon - Mars or O'Neill stations? (doesn’t matter the same stack)
How can we finance lunar missions and products? (need to find products)
Another captivating presentation, called the Tech Talk, was presented by Martin Soltau from the UK space tech startup Space Solar. He delved into the topic of solar energy in space and the methods of transmitting it back to Earth using microwave or laser technology. It's fascinating to note that the same technology can be utilized for terrestrial applications, such as transmitting energy between islands or charging flying drones.
Register your interest to attend the next Convention here. Hope to see you 26-28th February 2025 in Singapore for the 17th edition of GSTC!
Only a select few on Earth are truly passionate about space, which can sometimes make us feel isolated as if our dreams and ambitions aren't shared by others. For those pivoting to the Aerospace sector, we recommend finding your tribe—surround yourself with like-minded individuals who can offer support and camaraderie. A great starting point is attending a SpaceTech conference. In fact, we've compiled a list of global SpaceTech conferences, which you can find in our previous article: Top 50 Space Conferences to Propel Your Journey.
We're also excited to announce that we're planning to launch a fellowship program for those interested in starting a SpaceTech startup. Details will be shared soon, but if you want to be among the first to join the waiting list, please send us an email at hello@spaceambition.org.
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