Since 2018 the Hyperspace Challenge accelerator program has helped over 61 early-stage companies and universities collaborate with government partners to come up with innovative solutions for the future of space defense.
The program, which is administered by CNM Ingenuity and funded by the Air Force Research Laboratory, has been so successful, in fact, that this year Hyperspace decided to pause new applications and instead focus its efforts on helping existing Hyperspace companies and universities move their projects forward in the development process while celebrating its fifth anniversary.
To do that, Hyperspace is hosting the Hyperdrive Space Summit on November 15, 2022 where existing companies that have gone through the Hyperspace program will be able to meet with and learn from government and funding partners that can help them take the next step.
“The Hyperdrive Space Summit is all about creating connections and collisions with other people in the ecosystem so that they can continue to be successful,” says Jeff Bargiel, the Program Director for Entrepreneurship at Ingenuity.
Q Station and NewSpace New Mexico—two other space business accelerators here in New Mexico—are co-hosting the summit. Their accelerator companies will also participate in Hyperdrive programming including panel discussions such as “How to Make Money in Space,” presentations from officials versed in topics such as space law and regulations, and a reverse pitch session where venture capitalists will pitch their firms to the tech companies.
“We’re excited to use the event to help companies mature and help New Mexico continue to build out its space-focused ecosystem,” Jeff says.
Going forward the Hyperspace Challenge will continue to take on new cohorts of early-stage companies and universities. Thanks to $11.2 million in new funding, with $2 million coming from CNM as a cost share, Hyperspace has funding for another five years.
Additionally, Jeff says Hyperspace is excited to announce an increased focus on university partnerships after successfully including university teams in the 2020 Hyperspace cohort. Traditionally, he says, tech solutions offered by academic institutions tend to be early-stage ideas that are then developed further by tech companies. But those early-stage ideas create an important foundation and Hyperspace is committed to fostering their development.
Hyperspace will work with universities across the country and the world, but there will be a special focus on bringing smaller and less represented universities together to collaborate and provide solutions for larger tech challenges in space defense, and as a way to develop the future space workforce. There’s already a collaborative event scheduled for these universities in 2023.
“We are witnessing New Mexico become a vibrant center of new space and Hyperspace is excited to do our part,” Jeff says. “Special thanks to AFRL and U.S. Space Force for partnering with CNM Ingenuity for another five years of Hyperspace Challenge and bringing solutions to space defense from small businesses and universities.”
Please contact the Hyperspace Challenge at [email protected] or visit them here for more information. Hyperspace also encourages any small business or university to get in touch with their proposed solutions for space defense. Service providers or investors in the early-stage spacetech industry should also reach out to find out more about how they can get involved with the Hyperspace Challenge.