Space 2.0 lands in Colorado
Eighth Continent project to integrate space business into global economy
The Eighth Continent Project, the world’s most comprehensive program to integrate space technology and resources into the global economy, was launched here today at the Colorado School of Mines Center for Space Resources.
"For the first time, government, industry and academia have joined forces with entrepreneurs and venture capitalists to forge the next frontier in commercializing space technology and resources,” said Colorado Governor Bill Ritter. “With our region’s unique cluster of businesses, IT infrastructure, research institutions and aerospace workforce, the Eighth Continent Project will position Colorado at the vortex of 'Space 2.0.'"
"'Space 1.0' was astronauts, rocket ships and billion-dollar government projects. 'Space 2.0' is venture-backed entrepreneurs starting new companies with new technologies," said Burke Fort, Eighth Continent project director. "Eighth Continent will bridge the gap between existing technologies and their commercialization through the industry’s first research hub, incubator, venture fund and international chamber of commerce."
Initial founding partners and sponsors include: DigitalGlobe, the Keiretsu Forum, CTEK, Broadreach, the Governor’s Office of Economic Development, Townsend & Townsend & Crew, the Colorado School of Mines, and the University of Colorado Leeds School of Business Deming Center.
"DigitalGlobe was one of the world's first 'Space 2.0' companies that now provides spatial content to thousands of businesses and mass consumer markets," said Chuck Herring, director of corporate communications for DigitalGlobe. "With the Eighth Continent Project, the time has come to bring space down to earth, and to incubate and fund the industries of the future."
"Angel investors around the world are sharing ideas and content, and we’re always looking for dealflow into new markets," said Steve Murchie, Denver chapter president of the Keiretsu Forum, one of the largest angel investor networks in the world. "Space commerce, once the realm of big government, is now being driven by entrepreneurs. We want to help the market define new valuation criteria, develop dealflow pipelines, and bring new technology to the marketplace through Eighth Continent."
"The immediate terrestrial application of space technologies, and their longer-term space applications, can make for a compelling long-term investment with short-term and significant revenue streams," said Gary Held, CTEK president. "The Eighth Continent Project is a 'first of its kind' and CTEK is thrilled to be a founding partner and to bring our angel and venture investing, technology transfer, and incubator experience to bear."
"With our workforce, research community and entrepreneurial culture, we believe Colorado can be the next Silicon Valley of space commerce," said Dr. Angel Abbud-Madrid, director of the Colorado School of Mines Center for Space Resources, where Eighth Continent will be headquartered. "With our expertise in mining, renewable energy, engineering, math, computer sciences, robotics, and materials research, it makes sense to base our efforts at the School of Mines."
