Startups Pushing Boundaries

One of the industries that has been historically dominated by the government has been space research and exploration. Companies like SpaceX have recently broken into this business with gaining popularity, and today there was another breakthrough in the field of commercial space travel.

Moon Express, a Silicon Valley startup, just earned government approval for an unmanned mission to the moon. This is the first time a private company has gotten such approval and marks an important milestone in commercial space exploration. While the first mission will only send a small robotic lander to the moon, it offers new possible outcomes in the future.

Once Moon Express proves that it can get cargo to the moon, it will unlock a vast commercial potential, Jain said. He envisions creating a space station that allows rockets to refuel mid-flight, mining the moon for rare substances such as Helium-3, or giving space tourists the opportunity to plant their footprints on the moon or take home a moon rock.

In Silicon Valley, entrepreneurs are taking advantage of advancing technology and falling costs to launch space-focused startups. Last year more than 50 venture capital firms poured $1.8 billion into U.S. space startups — a record year, according to a study by The Tauri Group. These companies mostly have focused on sending cargo to the International Space Station or launching fleets of imaging satellites into Earth’s orbit. But there is plenty of interest in eventually reaching the moon and beyond.

At THRIVEX, we focus on startups that are using innovative solutions to push boundaries in the tech world. The fact that the government gave this startup approval to do something that has never been done before by a private company shows how important startups have become when discussing the future of technological advancement in all fields.