We speak with Lynette Tan, Chief Executive, Singapore Space & Technology Limited, organisers of the Global Space & Technology Convention.
In 2023, space is no longer the final frontier but the first stop for innovation. From climate tech solutions to connectivity, global security and responsible business, space technologies have increasing applications on Earth. Exploration, experimentation and economic expansion are the latest buzzwords in an industry that is predicted to grow at a compound annual growth rate (CAGR) of 6.84% between 2022 and 2026 and reach a trillion by 2040, making space a tremendous economic pillar in the very immediate future.
In the last 5 years, especially, the space industry has entered a new era of growth. This goes beyond the New Space era of greater participation by the private sector. We are now in the era where space is a key economic driver not just for space-faring nations, but increasingly in Asia. In fact, the global space economy hit US$469 billion in 2021, up 9% from the previous year in spite of the uncertain global environment.
This sets the stage for GSTC 2023, which has evolved over 15 editions to become the industry’s barometer for growth. In the spotlight this year are key developments in:
– Entrepreneurship: with the development of more startups across space data, Earth Observation, climate tech, etc.
– Experimentation: especially in the life sciences space
– Economic expansion: through the signing of significant MoUs that will shape the industry for the next decade
As Chief Executive of SSTL, Lynette develops the organisation’s industry initiatives, leads its startup accelerator programmes and drives its consulting business, identifying opportunities for government organisations, companies and individuals to participate in the growing Asian space industry. In addition to running SSTL’s very own space accelerator programme for tech startups, she is also the managing Partner of Project Cyclotron, an exclusive programme with the Singapore government that assists early stage, deep tech, space start-ups.
Lynette is also Founder of Space Faculty, a spin-off of SSTL that creates a dedicated learning and development pathway for companies and individuals. It draws on the collective experience of experts across different fields with over a decade of experience in the deep tech and space sectors. Its programmes are created to drive experimentation, learning and leadership among early learners, youths, adults and industry professionals. Lynette believes that while space is the starting point, it will lead into all the related branches of deep tech – from IoT, Artificial Intelligence and Machine Learning to predictive analytics, robotics and blockchain technology.
MySecurity Media were media partners to #GSTC2023
