PITTSBURGH, PA (October 29, 2024) – In a bold leap toward transformative change, the Keystone Space Collaborative (Keystone Space), Innovation Works, and Pennsylvania Department of Community and Economic Development (DCED) detailed today an exciting pilot program that offers a total of $200,000 in awards to businesses and talent in Pennsylvania.

From healthcare to transportation and beyond, space-based advancements often cross industry boundaries, and The Keystone Space Innovation Challenge aims to help Pennsylvania-based companies and individuals further explore the untapped potential in space technology and commercial research and development to create solutions that enhance people’s daily lives.

The organizations hope to expand the Challenge to Ohio and West Virginia in the coming years, pending multi-state funding.

“The Keystone Space Innovation Challenge offers a rare opportunity for the state’s brightest minds to showcase their visionary ideas,” said Dr. Jonathan Volk, Keystone Space Board Member. “By providing access to significant funding and important resources, it fuels local innovation and strengthens our region’s influence in the industry, continuing to establish the state—and Ohio and West Virginia—as leaders in the field.”

When Keystone Space formed, it promised to bring opportunities that empower tri-state businesses and talent and catalyze their groundbreaking developments – and the Challenge reflects those values.

Breakthroughs originally intended for space—such as when GPS technology went from a tool developed to track military and space missions to an everyday navigation device—that find new uses on Earth improve a community’s quality of life and drive its economic growth.

Estimates project the global space economy – already valued at over $469 billion – will grow to more than $1 trillion between 2030 and 2040 which also allows the Challenge’s applicants to position themselves at the forefront of an expanding sector.

“We are excited to partner with the Keystone Space Collaborative to launch the Keystone Space Innovation Challenge, positioning Pennsylvania as a leader in space innovation,” said Ven Raju, President and CEO at Innovation Works. “By supporting entrepreneurs and researchers with funding, mentorship, and connections, we aim to drive growth in this critical industry while building a thriving space tech ecosystem in our region.”

Challenge participants can compete in two distinct categories: Commercial Space Technology Concepts and In-Space Research and Development Commercial Concepts.

They will initially be required to submit a business plan. A handpicked cohort of finalists will then be invited to present at a Pitch Day competition to a panel of judges next spring. Afterwards, six winners will be selected, with two of the most promising concepts each securing a substantial $50,00 award and four other standout ideas receiving $25,000 awards. Beyond financial support, all winners will also be granted a Keystone Space Collaborative membership and be provided with personalized mentorship from leading industry experts, fostering ongoing collaboration and engagement.

“Pennsylvania companies and entrepreneurs are leading the way in space innovation – driving the research, manufacturing, and commercialization breakthroughs that propel us to go to orbit, the moon, and beyond,” said Jennifer Leinbach, Executive Director of the Pennsylvania Department of Community and Economic Development Office of Technology Investment and Ben Franklin Technology Development Authority. “The Shapiro Administration is proud to support the Keystone Space Innovation Challenge, which will empower more Pennsylvania visionaries to turn their ambitious ideas into groundbreaking tech for the space industry.”

The Keystone Space Innovation Challenge will kick off with a virtual webinar Wednesday, December 4 at 1 p.m. To participate or learn more, visit: keystonespace.org/innovation-challenge.

Click here to access photos from the announcement. To interview a member of the Keystone Space team about the Innovation Challenge, contact [email protected].

Other Highlights from Third Annual Keystone Space Conference

The Challenge announcement follows closely on the success of the third annual Keystone Space Conference. Guided by the theme ‘Building a Tri-State Space Strategy,’ it united hundreds of space professionals and drove forward Ohio, Pennsylvania, and West Virginia’s vital role in the national and global space landscape. The agenda covered a wide variety of topics and featured influential speakers, including Pennsylvania Lt. Gov. Austin Davis, and representing:

• NASA
• Department of Defense
• United States Congress
• Industry-leading companies including Astrobotic, Blue Origin, and Lockheed Martin

Additionally, Keystone Space partnered with Moonshot Museum, the first space museum in Pennsylvania – and on the planet to focus on career readiness for the contemporary space industry – to test the first-ever Jr. Space Conference. Approximately 30 high school students from Pittsburgh Milliones 6-12, University Preparatory School took part in hands-on activities and a career panel, all designed to inspire the next generation of aerospace leaders.

With an eye on the future, Keystone Space remains eagerly ready to support and serve the Tri-State’s space industry. To learn more about its mission, visit: https://keystonespace.org/.

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ABOUT THE KEYSTONE SPACE COLLABORATIVE

Founded in 2021, the Keystone Space Collaborative is a nonprofit organization committed to attracting, growing and amplifying the next generation of space industry businesses and talent in Ohio, Pennsylvania and West Virginia. By convening people passionate about space, the Keystone Space Collaborative aims to attract more opportunities for job creation, inclusive prosperity and growth in this fast-growing sector. To learn more, visit keystonespace.org.

ABOUT INNOVATION WORKS

Innovation Works (IW) is one of the most active early-stage investors in the country and the most active early-stage investor in the State of Pennsylvania. To date, IW has financially supported over 761 companies that have gone on to raise $3.3 billion in follow-on funding. IW portfolio companies have generated and retained over 20,000 jobs in the State of Pennsylvania. IW is part of the Ben Franklin Technology Partner Network (BFTP). Over the last 30 years, the BFTP has catalyzed economic growth by providing access to capital and networks that help to foster innovation and technology-based economic development in Pennsylvania. Learn more at innovationworks.org.