[Anyway, Startup] A ‘private space’ startup taking on the ‘New Space’ era

[Sisa Journal e=Reporter Park Ye-young] The NewSpace era, in which the private sector leads space development, has begun in earnest. This year, with Nuri, built with Korea's own technology, successfully completing its first real-world launch, startups challenging the space industry with private launch vehicles and satellite services are drawing attention.

According to the startup industry on the 8th, Korea declared its space development as it succeeded in everything from designing, manufacturing, and launching space launch vehicles to satellite delivery with its own technological capabilities. Private companies are also taking their first steps into space development, opening the door to the NewSpace era. 

Una Stella is the first domestic private crewed launch vehicle startup established in February last year. It was recently selected as a final recipient of the Ministry of SMEs and Startups' 'Scale-up TIPS' R&D project support program. Scale-up TIPS is a private-sector-led R&D program. In this system, an operator made up of a consortium of private investment firms and specialized R&D companies discovers promising small and mid-sized ventures and invests first, after which the government provides follow-up, linked support.