PASS COM vol.0 ENG

2019.1.22 COMPASS Introduction The international space industry is undergoing a paradigm shift. Whereas previously the space industry has been led by mainly the government, leadership by the private sector has been a gaining momentum in recent years.

Over the past decade, more than 30 countries and regions have invested in space-related businesses, and over 1000 startups have been launched. Various companies from terrestrial industries have also entered and invested in space-related businesses. Thus, today organizations and people from a wide range of fields have joined or are discussing various business possibilities in the new space industry. In , too, interest in the space industry is growing in both the public and private sectors, and signs of a new industrial eco-system have begun to appear.

NEW ECOSYSTEM In this situation, SPACETIDE was established in 2015 and aims to accelerate the whole space related businesses through the cross-industrial activities. Our objective is also contribution to development of Japanese and international space industries by Professional Entrepreneur exploring the new ways. firm Gov. It is in this milieu that SPACETIDE was established in 2015, with Space- Gov. Industry the aim of accelerating space-related businesses overall Prime contractor Company through cross-industrial activities. Our objective is also to contribute to the development of Japanese and international Terrestrial- Investor industry space industries by exploring new paths. Sub-contractor/Supplier Company SPACETIDE plans and manages the largest annual space Government-led space industry Commercial space business business conference in Japan, as well as a variety of small networking events. As a new activities, we have also started to publish our own industry report: “SPACETIDE COMPASS”.

SPACETIDE COMPASS analyzes the domestic and international market trends of the space industry. By publishing the analysis, we aim to enlarge and develop the industry by delivering information that deepens readers' understanding of and interest in space-related businesses. The report’ s first issue, ” vol. 0”, includes the followings with the objective of providing the “big picture” view of space business and maturity level of the industry.

1 Definition of space-related business market segments (business domain) 2 “Player Map” identifying the type of players in each segment 3 Research of recent capital raised by startups showing the cash inflow into space industry We plan to update the player map and key indicators along with the latest hot topics / analysis, on a quarterly or biannual basis.

*1: As of Nov. 2018

COMPASS 1 vol.0 SEGMENT Business segments

Current space-related businesses can be categorized into 6 segments

Satellite data Satellite infrastructure Launch service space tech application deployment and operation

Business utilizing satellite data and Commercial / manned space flight Business deploying and operating various space tech (mainly business and its related businesses satellite infrastructure and its related ground-based) and its related businesses businesses

- Satellite data distribution - Development and manufacture of large/small - Development/manufacture of geostationary - Satelite data solution services, using analyzed and spacecraft satellites / processed satelite data - Launch service for satellites / manned space - Development/manufacture/deployment for - Satellite communication service flight low/medium earth-orbit satellites - Ground facilities and terminal

Space Space exploration On-orbit service migration space mining

Business providing service to orbiting Business enabling / Business for deep space and its related artfiacts and its related businesses travel (including migration) businesses

- Satellite life extension - Space travel agency - Space probe / rover development and - In space R&D and manufacturing - Space hotel design, developent and operation manufacture - Debris removal - Other hospitality services (food & shelter) - Lunar / Mars base / infrastructure planning, design and operation

COMPASS 2 vol.0 PLAYER MAP Space industry players in Japan

Space business entry approach and vol. 0 research scope

Launching a startup, developing a new business and investing/advising … There are many approaches to enter the space business. Vol. 0 research scope is Japanese startups established after 2000.

Space startup Investment/support, etc. Investment/support, etc.

Launching a startup

Strengthening Launching a startup existing business

Space-industry Terrestrial-industry company SPACE BUSINESS company

New entry

Investment/support, etc. Investment/support, etc. survey targets of Terrestrial startup vol.0

Player map by business segment

Various startups are emering in each segment

Satellite data / space tech application Launch service

Axcelspace GREE Space Shift Interstellar Technologies SpaceOne ALE mercariR4D Space Bio-Laboratories PD Aerospace Dynamic Map Platform Ridge-i Synspective SpaceWalker Global Positioning SAgri Umitron SpaceBD Augmentation Service

Satellite infrastructure deployment and operation On-orbit service

Axelspace Astroscale Infostellar SpaceBD Institute for Q-shu Pioneers of Space WARPSPACE

Space tourism/migration Space exploration/space mining

Club Tourism Space Tours Yspace GITAI MELTIN MMI OUTSENSE GREE Telexistence PD Aerospace Integriculture SpaceWalker ispace

*1：Definition of startup: companies established after 2000. (incorporated associations are excluded) *2：Only end product manufacturer (OEM) is listed *3：Alphabetical order

COMPASS 3 vol.0 Player map by year founded

The development of launch service drove the growth of satellites data applications and related businesses. New type of businesses such as space tourism and space mining has emerged

2000 2005 2010 2015 2020

InterstellarTechnologies/2013

Space One/2018 PD Aerospace/2007 Launch service Space Walker/2017

Blue Origin Space X Lab Spaceflight Industries Space BD/2017 Orbex Space Vector Launch

Satellite infrastructure Infostellar/2016 iQPS/2005 Axelspace/2008 deployment WARPSPACE/2016 and operation Lux Space Gom Space ExactEarth One Web ICEYE Capella Space

Dynamic Map Platform/2016 SAgri/2018 GREE/2017 Satellite data Axelspace/2008 Ridge-i/2016 space tech ALE/2011 Amazon Web Services GPAS/2017 application Google Cloud Orbital Insight Umitron /2016 Space Shift/2009 mercariR4D/2017 Space Bio-Laboratories/2011 Synspective/2018

Astroscale/2015

On-orbit service Space BD/2017 NanoRacks Effective Space Made In Space D-Orbit

Club Tourism Space Tours/2014 Space X PD Aerospace/2007 Space tourism SpaceWalker/2017 migration OUTSENSE/2018

Bigelow Aerospace Yspace/2018

ispace/2010 MELTIN MMI/2013

Space exploration Integriculture/2015

Planetary space mining Telexistence/2017 Resources GITAI/2017

2000 2005 2010 2015 2020

*1. Lowercase letters indicate foreign companies (only main players) *2. Some abbreviation are used due to limited space *3. Terrestrial startups are also listed in order of years since their establishment. However, GREE is listed by the year when it announced entry into the space business.

COMPASS 4 vol.0 INVESTMENT Funding/Japan

Raised capital by year (Startups in Japan)

Funding is steadily increasing, however still have room to accelerate fundraising compared to the scale of its global peers

30 10 10 8 Number of players [Billion yen] Funding amount 20.4 6 $182M 15 5

10.2 2 $92M

2.8 4.8 $44M 0 $23M 0 2014 2015 2016 2017 2018 (Oct.)

AstroScale ALE ALE AstroScale AxelSpace AstroScale AstroScale Integriculture GITAI Dynamic Map Platform Interstellar Technologies Infostellar GITAI ispace Interstellar Technologies Infostellar MELTIN MMI PD Aerospace Interstellar Technologies PD Aerospace iQPS SpaceBD ispace Umitron MELTIN MMI SpaceBD

Investor profile 4% 5% The main invenstors in Japan are typically Others Government VCs and terrestrial corporations (incl. CVC) 37% 7% Terrestrial-industry Space-industry company company 73 Investors 2014 - 2018 18% Financial 29% Industry VC

*1：Based on public information released (only the number of startups are counted if the raised amout is not disclosed) *2：Raised capital is the total of domestic investment, alliance, sponsorship and crowdfunding *3：investor profile is based on total of invested players between 2014-2018 without overlap (categorized by SPACETIDE)

COMPASS 5 vol.0 AFTER WORD

Domestic and international space industry is SPACETIDE COMPASS undergoing a dynamic change. By analyzing the change Program Manager from different angles and sharing the findings, we hope to contribute to development of the space industry and to bringing space closer to people.

We started to publish “SPACETIDE COMPASS” because we feel that SPACETIDE has an important mission. The

main content of Vol. 0 is a basic fact pack, such as player Yoshiaki Yosuke map, but we plan to share more diverse range of Nakaue Yonezu information / analysis in the future reports.

It is our hope that SPACETIDE COMPASS will contribute to development of space industry, and that - as the name suggests - it will serve as a “compass” for people who shows interest in space-related businesses.

Since its establishment in 2015, SPACETIDE's main SPACETIDE Foundation activitiy has been organizing annual conferences and Chairman & CEO networking events. At these events, we often received feedback from participants that they would like to learn more about the "big picture" and recent progress of space industry. SPACETIDE COMPASS is our first attempt to cater for these feedbacks.

This is a new challenge for SPACETIDE, however we are Masayasu please to be able to contribute to the development of Ishida space industry. Thank you very much

COMPASS Vol.0

Edit&Research Toshihiro Obata, Shoki Kawata, Etsuko Kobayashi, Kazunori Takao, Yoshiaki Nakaue, Takashi Hoshiya, Takayuki Hosonuma, Shun Matsubara, Karuna Miyoshi, Yuka Yamaguchi, Yusuke Yonezu, Masayasu Ishida, Masashi Sato

Design Kei Arima

Special Thanks Hiyori Kogure

Publish： SPACETIDE Founation Date / 2018.12.5

www.spacetide.org Contact：[email protected]

COMPASS 6 vol.0 COMPASS by

www.spacetide.org [email protected]

No reproduction or republication without permission.