This is what Lior Harman - co-founder of TYPE5 VC Space Tech Group says at the Spacetech 2 conference: the space market in Israel generates tens of millions of dollars - a relatively small figure compared to the inherent potential in this field and certainly compared to the countries of the world.
The Israeli space economy has some way to go when the global space economy currently generates about D450 billion. This is what Lior Harman - co-founder of TYPE5 VC Space Tech Group says at the Spacetech 2 conference: the space market in Israel generates tens of millions of dollars - a relatively small figure compared to the inherent potential in this field and certainly compared to the countries of the world.
The 2nd Spacestack conference that opened this morning (Monday) was attended by very senior officials from the space technology industry in Israel and around the world. At the conference - moderated by Dror Gloverman, some of the most advanced space technologies in the world were presented for the first time and he dealt with building the space economy and its growth engines for the Israeli economy.
Lior Herman – Co-founder TYPE5 VC Space Tech Group The fundraiser for venture capital funds in the aerospace and space sector, who is also behind the conference, said at the beginning of his remarks: "The global space economy may reach a trillion dollar value by the end of the decade. Today it turns over a quarter of a trillion (450 billion). The Israeli space economy, on the other hand, contains a relatively small number of young companies (dozens), although the expectation is to reach hundreds as the development and growth rate increases in the field from year to year. He also added that today it is a market that generates tens of millions of dollars in Israel - a relatively small figure compared to the inherent potential in this field and certainly compared to the countries of the world.
Maya Schwartz, CEO of the Israel Hi-Tech Association stated: "Israeli companies can take a significant part in a growing and new segment of the space industry, but these space companies need our representation in front of the regulator in order to remove barriers that hinder their growth, chief among them the lack of a civil space law and regulations for the export of dual-use technologies."
Schwartz also emphasized: "Israeli manufacturing companies that have been eroded over the years can and even should develop products and services for the space sector while understanding that they have a supporting shoulder. These are mainly companies that operate in the aviation market and have all the necessary permits for aviation. Can develop or team up with space startups and thus reinvent themselves. This may be the difference between a renewed rise or a decline."
Other topics discussed at the conference: cyber attacks in space, challenges of the Israeli space technology industry, tech climate and challenges on Earth from space and management and maintenance of satellites with the help of AI.
Among the officials who participated: Hila Hadad Hamelnik- Former Director General of the Ministry of Innovation, Science and Technology, Uri Oron- Director of the Israel Space Agency, Ron Tomer, President of the Association of Manufacturers, Maya Schwartz, CEO of the Israel Hi-Tech Association, Prof. My father is live from Harvard University who spoke about the Galileo project - to discover life in space and the founding partners of Keren TYPE5 VC Space Tech Group Einat Berkovich, Yaron Sagi and Udi Danhirsh.
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