31 May 2024
Under the Radar: Initiating handshakes between private and public organisations in the space economy – Space Faculty on opportunities in the space consulting industry 
Founded in 2021, our guest Space Faculty is a business consulting firm and also a pioneer in helping the public and private sectors be a part of the space economy.
The firm’s operations can be segmented into three verticals: one, helping the private sector tap into space-based and deep tech innovations, two, developing national-level STEM 2.0 learning roadmaps for youths and professionals, and three, working with governments to create, expand, and leverage the space industry ecosystem.
For example, the company worked with the Singapore Land Authority to come up with a technology challenge to mobilise youths to develop solutions and prototypes that help SLA’s technologies impact different parts of the community.
It also supports the Office for Space Technology and Industry, Singapore by building a pathway for talent development  through bespoke programmes and industry connection points to complement the education system and meet growing industry demand.
Globally, the firm also has a long-term partnership with the US Embassy for the International Space Challenge to showcase the breadth of established and emerging space companies in the global ecosystem, and help them maintain their mindshare in the space industry.
But why are we talking about Space Faculty? Well, McKinsey & Company had in an April report estimated that the global space economy will be worth US$1.8 trillion by 2035, taking into account inflation. That’s a multiple of the US$630 billion seen in 2023.
But where are the untapped opportunities in this space (pun intended) – and how far does that translate into earnings for Space Faculty?
On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Lynette Tan, CEO, Space Faculty.

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