A Bootcamp to Facilitate Space Startups in Overcoming Legal Obstructions
Aspiring space startups in New Mexico, take note! An immersive boot camp is coming soon to help you navigate the intricate regulatory landscape. The U.S. Air Force Research Laboratory and SpaceWERX have joined forces to host the powerful and innovative Space Regulatory Bootcamp at Q Station, a hub for New Mexico’s thriving space industry located in Albuquerque! This unmissable event will take place February 21-23 – don’t hesitate to grab your chance now!
Gabe Mounce, director of AFRL’s Outreach and Tech Engagement Office and deputy director of SpaceWERX, pointed out that many businesses need assistance in understanding what is needed for obtaining a federal contract, especially when it comes to export laws. As such, topics covered in the boot camp will include cybersecurity, foreign investments, crowdfunding regulations, government licensing protocols, and federal contracting rules.
Jack Shelton, the partner, and co-founder of Washington-based Aegis Trade Law, who is organizing the event, said that their law firm is dedicated to educating clients. This prompted him to create a curriculum and boot camp for teaching people about these matters.
Recent technological advancements such as cheaper launch costs, miniature electronic components, and additive manufacturing have opened up opportunities for space startups. Thus multiple government agencies have created different incubators/accelerators/financing programs to help support them. According to Mounce, “It now feels like every entrepreneur who has ever tried to do something in any other sector is pivoting that product or service to space in some capacity,” but warned that those entrepreneurs need to be aware of how they handle business with the United States government or risk facing legal issues down the line.
One boot camp session will highlight the important differences between pitching a business plan to investors or government entities. If all goes according to plan, this pilot program may become a long-term initiative, given its success thus far. However, there will be a $900 cost associated with attending it. Shelton promised that this fee was meant only to cover their expenses while also making sure it remains accessible for everyone interested in attending it instead of becoming too expensive for most potential participants.