NASA has commenced its 2023 NASA Entrepreneurs Challenge, a program intended to progress the development and commercialization of new technologies.
In its third run, the initiative will center entrepreneurs advancing technologies that can support the organization’s lunar exploration and climate science objectives, NASA announced from Houston, Texas on Tuesday.
The challenge is an acknowledgement of the need for innovative people in technology development, with a focus on those in traditionally underrepresented communities. To bring these individuals and their ideas to NASA, the agency is offering winning entrepreneurs up to $1 million in total prizes as well as exposure to external sources of funding and investors and insight into future opportunities to work with NASA.
Building on the two previous iterations of the program, this year’s challenge will recognize participants whose projects can further the development and commercialization of technologies and data usage in the areas of lunar payloads and climate science.
Divided into two rounds, the challenge first asks participants to deliver a pitch deck and technical white paper framing their technology concept. This phase will select 20 organizations to receive $16,000 and advance to the next round.
In round two, these competitors will provide more specific information on their idea and perform an in-person pitch at an event during the Defense TechConnect Innovation Summit and Expo in Washington, D.C. Eight winners will be chosen to receive the program’s $85,000 grand prize.
The pitch event will give finalists an opportunity to engage with key agency, military and industry leaders with connections to venture capitalists and other impact funds. In previous years, winning organizations have obtained millions of dollars in investor funds, been accepted into accelerator initiatives and secured Small Business Innovation Research Contracts after completing the challenge.
NASA is just one federal agency investing in cutting-edge space technology. For an in-depth look into the relationship between space technology and defense, the Potomac Officers Club will hold its 2023 Industrial Space Defense Summit on April 27. To learn more and register to attend the event, which will connect experts in the field for a variety of fascinating speeches and conversations, please visit the Potomac Officers Club events page.
