Last week, on November 19th, project partners met together this time for the 1st InnORBIT's Business modeling workshop.
This workshop followed up on a series of one-to-one brainstorming sessions with partners to build on their experiences and create a strong business case for the deployment of our local space initiatives. such as space cafes, space incubators, space accelerators and sprints, space hackathons, and the sustainability of the project's main assets during and after InnORBIT to keep them live and going!
In parallel, to build our first set of business models, we used the freshest market information and the results of the analyses and studies we performed during the first few months of the project.
During our Business modeling workshop, the first set of business models was presented to all InnORBIT partners and discussed in order to further refine and validate the business models to best reflect the current needs and situation of the space market. More importantly, we discussed and planned ahead for alternative approaches in the organization of local space initiatives, such as hybrid and fully online formats, that will reflect on our business modeling approach. This is a much-needed strategy that will keep InnORBIT always ready and prepared, in the face of an ongoing global COVID crisis, that creates a volatile environment for ventures in space and other industries and business sectors.
Partners after the workshop will perform a ranking exercise to find which business model is the best for each case, while the three pilot partners will tell us how well do these models fit their 1st pilot round implementation plans.
Why do we do all that? Our ambition is to create a crystal clear business modeling and business planning guide for all innovation intermediaries in Eastern Europe to exploit InnORBIT's local space initiatives for their benefit, starting with our three pilot partners ROMSPACE, Corallia, and Algebra who will be the first innovation intermediaries to get a taste of during the 1st pilot round.