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    To boldly go where no startup has gone before(2)

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    2017-08-24 10:06China Daily Editor: Wang Zihao ECNS App Download

    But she did reveal the company has reached agreements with more than 70 public schools in Beijing, Guangzhou, Anhui and Shanghai to beam in astronomy courses.

    Just like with earth-bound businesses, finding the right recipe for success is crucial for these new pioneers of space.

    They need to put clear sky between themselves and State-owned companies, which dominate telecommunications, remote sensing and navigation or GPS.

    "The best opportunities for private firms lie in exploring undiscovered fields and creating new demand," Peng at Commsat said.

    It is a view that appeals to Yang, of Spacety, who believes startups will end up "supplementing rather than substituting" existing businesses.

    By April, a total of 14 commercial space companies were registered in the country, including 10 which were privately owned, according to CASI Cloud.com, a website affiliated to China Aerospace Science & Industry Corp.

    They all tend to specialize in satellites involved in internet communication, remote sensing or scientific research.

    In addition to the new kids on the block, technology giants are jumping on the bandwagon.

    Later this year, Alibaba Group Holding Ltd plans to launch the world's first e-commerce satellite to provide consumers with customized products.

    By analyzing agricultural cultivation and harvesting data provided by satellite images, the company aims to buy and then sell the "world's best vegetables", it promised.

    Many might think this is a publicity stunt, but the internet group is deadly serious about taking its first step in space.

    As for rival Tencent Holdings Ltd, it invested in the startup Moon Express, which was founded by a group of Silicon Valley space entrepreneurs, in 2013.

    The company, which is based in the United States, has an ambitious program, including using drones to mine asteroids.

    Indeed, this spirit of galactic adventure is reflected in the desire by Chinese companies to capture a slice of the space pie.

    Fuelling the trend has been the government's challenging plans to develop the sector.

    Back in 2015, China's top economic planning body, the National Development and Reform Commission, unveiled a 10-year blueprint for the commercial space sector along with the Ministry of Finance, and the Commission on Science, Technology and Industry for National Defense.

    Since then, this fledgling sector has attracted renowned investors such as Matrix Partners China, Northern Light Venture Capital and Cash Capital.

    Yet the complexity of spacecraft, satellites and the shortage of skilled talent have provided challenges for the industry.

    "Most of the key people working in space startups used to be employed by SOEs," said Huang at Northern Light Venture Capital.

    "The companies are still looking at viable solutions to tackle the growing shortage of talent and help them build a sustainable career," he added.

      

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