Assessment 3: Entrepreneurial and Innovation Ecosystem Design for Space Mining (Individual Project)

1500 words

RMIT Harvard ref 

In this individual project, you will embark on a journey to design an entrepreneurial ecosystem for the emerging industry of space mining. You will begin by describing the current state of space mining, examining its key players, technologies, and challenges. Next, you will envision the future of space mining as a mature ecosystem, outlining the ecosystem’s structure, dynamics, and potential opportunities. Building on this future vision, you will identify gaps in the ecosystem—actors, institutions, or technologies that are not yet present—and propose an innovative business idea to fill one of these gaps.

Task Components

1. Current State of Space Mining (5 points)
• Task: Describe the current landscape of space mining, including key players, technologies, regulatory frameworks, and challenges.
• Criteria: Provide a comprehensive overview of the current state of space mining, highlighting key stakeholders, technological advancements, legal considerations, and obstacles. Analyze the opportunities and constraints present in the current space mining ecosystem.
2. Future Vision of Space Mining (10 points)
• Task: Envision the future of space mining as a mature ecosystem, projecting its ecosystem’s structure, dynamics, and economic significance.
• Criteria: Develop a compelling vision of the future space mining industry, outlining its potential evolution, technological advancements, regulatory landscape, and economic impact. Consider factors such as resource extraction techniques, market demand, and international cooperation in shaping this future vision.
3. Identifying Missing Elements (5 points)
• Task: Identify gaps in the current ecosystem of space mining, such as missing actors, institutions, or technologies.
• Criteria: Conduct a thorough analysis to identify areas where the space mining ecosystem may be lacking, including potential gaps in infrastructure, regulatory frameworks, or technological capabilities. Justify the importance of addressing these gaps for the sustainable growth and development of the space mining industry.
4. Innovative Business Idea (5 points)
• Task: Propose an innovative business idea aimed at addressing one of the identified gaps in the ecosystem of space mining.
• Criteria: Develop a novel business concept that fills a specific gap or meets an unmet need within the space mining ecosystem. Clearly articulate the value proposition, target market, revenue model, and potential impact of the proposed business idea. Evaluate how the proposed venture leverages emerging technologies, trends, or opportunities in the space mining industry to achieve success.

1. Effective Reporting (5 points)
   • Task: Prepare a report that effectively communicates your analysis and insights regarding the space mining ecosystem, its dynamics, future challenges and an innovative business idea.
   • Criteria: Your discussion will be assessed on its clarity, engagement, professionalism, and technical quality. This includes:

• Clarity of Expression: Information is presented in a clear, concise manner, making complex ideas accessible.
• Engagement: The report captures and holds the reader’s interest, utilizing visual aids or storytelling where appropriate.
• Professionalism: The overall reporting style should be professional, reflecting the seriousness of the topic.
• Technical Quality: The file should be free of technical issues, with good layout and readability, and any visual aids used should be clear and relevant to the content being presented.
• Length: 1500 words maximum.
• Content: Include an introduction to space mining, a visionary mapping of future space mining ecosystem, gaps in today’s space mining ecosystem, and a novel business concept that fills the selected gap. Conclude with a summary of your insights.
• Format: Use Times New Roman 12 font with single space. Do not forget to number pages. Be creative in how you present your analysis. You can use visuals, diagrams, or any other tools that help convey your message effectively. Ensure your narration is clear and your argumentation is logical.

https://hbr.org/2019/09/in-the-ecosystem-economy-whats-your-strategy

https://hbr.org/2016/04/pipelines-platforms-and-the-new-rules-of-strategy