Space services provider Saber Astronautics and prolific start up developer TCG Group have launched the Wolfpack Space Hub’s new space technology company incubator at inner city Waterloo, Sydney.
The new facility has a manufacturing laboratory for space startups to rapidly prototype and experiment with flight hardware products, allowing them to quickly and safely iterate new designs for spacecraft, robotics, and satellite components, according to an announcement.
Startups are also supported by Saber’s professional space engineering expertise and TCG’s decades of business relationships and support for entrepreneurs – TCG group has incubated more than 150 new businesses in the past five decades.
Saber Astronautics CEO Dr Jason Held said: “Australia used to import $4 billion each year on overseas space tech.
“Now with such strong local growth the nation saw a tremendous opportunity to build locally.
“This was a major contributing factor in the birth of the nation’s Space Agency.”
The annual Australian demand for space now business in 2022 is up to $10 billion, and there are strong calls for local manufacturing, and for Australia that means new ventures.
According to the two companies since 2016 Australia has been a breeding ground for new startups, generating nearly 30 new ventures every years.
“The market has outsized potential for the Australian economy if the right infrastructure and processes are in place.”
Dr Held said space companies had means a higher risk profile than other sectors.
He said: “Being a space startup in a sea of fintech and web can be a lonely experience, and having mentors that value the space industry is vital.
“The good news is, if we can show success, traditional investors will take notice, and there is plenty of validation to help them along the way.”
Instead of competing, Wolfpack cohorts focus on customers first and aggressively collaborate with each other to win business together as a group.
“This is by far the most open and progressive thing we’ve ever done,” said Dr Held.
Startup companies in the first Wolfpack Space Hub cohort include: Spiral Blue, Sperospace, and Dandelion. Spacesuit startup Metakosmos is the first company accepted to the new cohort starting in Q2 2022.
The Wolfpack received $500,000 in funding from an Entrepreneurs Australia incubators grant and from commercial investors in 2021.
Picture: Peter Frtiz, founder of TCG (left), and Dr Jason Held Saber
Subscribe to our free @AuManufacturing newsletter here.