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Need for speed (7/19/23)

Good morning. We’re already hard at work planning a great lineup of Payload-hosted events in 2024. Scroll down to cast your vote on our happy hour locations for next year!

In today's edition...
⏩ Hyperspace teams with RCO
⭐ NASA earns “A” from SBA
💸 The term sheet

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Exclusive: Hyperspace x Rapid Capabilities

The Hyperspace Challenge accelerator announced a new partnership with the US Space Force’s Rapid Capabilities Office (RCO) just before applications open for this year’s class of startups.

Hyperspace 101: The Air Force Research Lab (AFRL) launched the challenge in 2018 to recruit small businesses to solve DoD’s problems and make officials more aware of the work startups are doing that could benefit national security. During the two-day accelerator, cohorts focus on a central problem statement and work to improve their product to meet that particular DoD need.

When it works as planned, there’s a useful exchange: participating startups build relationships and inroads with potential customers and partners within the DoD, and in return, those government agencies get a greater understanding of the new technologies being developed to solve their problems.

  • The challenge also lets startups and government stakeholders hammer out the details of what resources are needed to solve the problems posed by the accelerator.

  • “It's worth trying to continue to be super responsive to what both the government needs, [and] what these companies need right to be successful in their commercial business and the government business,” Matthew Fetrow, Space RCO communications manager, told Payload.

This year’s problem statement is threefold:

  1. Increase space visibility and awareness

  2. Advance space analysis and vehicle autonomy

  3. Increase space vehicle lifespan and maneuverability

The acquisition problem: The accelerator’s partnership with Space RCO aims to shorten the traditional long and winding road to acquisition from years to ASAP.

“We want to establish those relationships and those partnerships with the broadest number of people as we can so that when we get that requirement, we get that need from senior Space Force and Air Force leadership, we know what potential solutions might be out there,” Fetrow said. “For us, that's what rapid means. It's not just trying to do that old system, or quickly ramming into a smaller space, it's actually doing things differently.”

Broadening the perspective: Since its inception, the Hyperspace Challenge has focused on solving problems for the space industry by engaging mostly space companies. With this partnership, though, the accelerator is increasing its efforts to bring in cohort members from other industries, like the mining and automotive industries, to bring new perspectives to old problems.

“We [don’t] have to…come up with totally new solutions,” Kathy Steen, senior program manager for Hyperspace Challenge, told Payload. “There may be solutions terrestrial that can be applied celestial.”

+ If you’re interested…Applications won’t open up until next month, but the Hyperspace Challenge is currently soliciting interest.

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Experience the revolution in space parts manufacturing with Castheon. Contact us now to learn more and elevate your projects to new heights.

NASA Touts Small Business Investment

Chart: SBA

NASA is a star student of the Biden administration’s efforts to send more federal dollars to small businesses, earning an “A” for the sixth year in a row in a Small Business Administration scorecard released Tuesday.

The gradebook: SBA releases a small business procurement scorecard each year that measures how close federal agencies are able to come to the small business contracting goals set for them by the White House. In fiscal 2022, NASA exceeded its goals by 18%, earning it an “A” grade.

“NASA is investing in America by partnering with small businesses around the country and in every single state,” NASA chief Bill Nelson said in a statement. “Small businesses are integral to everything we do from finding first galaxies to investigating Mars and the universe to sending a new generation of explorers to the Moon through Artemis. Together, every advancement and achievement we make is for humanity.”

The $$: More than a third of NASA’s spending in fiscal 2022 went to small businesses, according to a press release. That amounts to $7.1B, including $3.6B in contracts signed directly with small businesses and another $3.5B that was subcontracted to small businesses by primes working with the space agency.

Space Opportunities

Here are the top government opportunities for space companies this week, as compiled by our partner TZero.

🛰️ NASA GSFC has released a presolicitation notice for an upcoming RFP for the Geostationary Extended Observations Flight Program (GeoXO), which will include up to seven spacecraft, each with three science instruments. The draft RFP is expected in mid-August.

🚀 USSF SSC has released a draft RFP for the NSSL Phase 3 opportunity. This IDIQ contract onramp identifies launch providers in two lanes: one for large national security launchers and one for smaller commercial companies. Comments are due July 28.

📡 The National Space Test & Training Complex (NSTTC) has released a sources sought for an upcoming IDIQ contract to provide hardware, modeling & simulation, and software development for the NITE-STAR range. Responses are due Aug. 3.

Additional opportunities and details can be found in the TZero Space Tracker, which is now offering lower pricing and a one-month free trial.

In Other News

  • China will attempt to launch its next-gen crewed spacecraft in 2027 or 2028.

  • ViaSat-3’s potential $420M insurance claim may reduce capacity for other satellite operators.

  • NASA's Artemis II astronauts are busy training for their date with the Moon.

  • Venezuela officially joined the China-Russia ILRS lunar station program.

  • Bill Nelson will meet with foreign leaders in Brazil, Argentina, and Colombia this week.

  • The first Barbies to fly to space were put on display at the National Air and Space Museum ahead of the new Barbie movie debut.

  • Correction: Yesterday’s newsletter incorrectly characterized SpaceX’s forecasted revenue. The company is forecasting $8B in revenue for 2023.

The Term Sheet

  • AVS, a small engineering firm from the Basque region of Spain, nabbed an investment from Talde Private Equity (via Payload).

  • Astra plans to perform a 1-to-15 ratio split and raise up to $65M in an “at-the-market” offering (via Payload).

  • SpaceX’s valuation hit $140B after a secondary share sale.

  • HawkEye 360 raised a $58M Series D-1 round led by accounts managed by BlackRock.

  • LightRidge acquired space electronics manufacturer Trident Systems. LightRidge is owned by ATL Partners, a private equity firm.

The View from Texas

Image: NASA

Some of the Artemis II crew had a pool party last week at Johnson Space Center, where they practiced how to get out of the Orion capsule once it splashes down.

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