The NewSpace Student Business Plan Competition is co-organized between SEDS-USA and the Space Frontier Foundation. It is a contest that allows university student teams to pitch their ideas of a scalable business startup relevant to the space industry to a panel of experienced judges in the industry. The purpose of the contest is to give students an opportunity to think of innovative business models, learn from experienced professionals, and gain experience in entrepreneurship.
The growth of industries related to extraction of resources and development of energy and transportation infrastructure in space will require a strong and dedicated workforce in the near future. This competition is targeted towards inspiring the youth of today to pursue careers within the space industry and thus this project will help create the workforce of tomorrow.
The funds raised by donors like you will be used for cash awards to the winning teams and for marketing materials. Students will gain first-hand experience in entrepreneurship, a great lesson for those seeking to start their own business in the present and future. Additionally, students get a chance to build long-lasting professional relationships with the judges and investors. The encouragement from a professional can be a great force in guiding the student to pursue his/her dream career.
Businesses that are born out of ideas in this competition have the potential of benefiting humanity in the long term. The connections students make with professionals at the contest can last a student's entire career. Recognized for its unique ability to provide student space enthusiasts with entrepreneurship experience, SNBPC was ranked 9th out of 40 prestigious business plan competitions that "every entrepreneur should know about" by OnlineMBA.com.
