Tag Archives: SpaceIL

Israeli X-Prize team still short of funds

Capitalism in space: The Israeli Google Lunar X-Prize competitor, SpaceIL, still needs to raise $7.5 million by December 20th or it will be forced to drop out of the competition, even though they say their spacecraft is finished.

SpaceIL initially estimated it would need about $8 million for the GLXP effort, but costs soared to $85 million, team members said. The team needs to raise $30 million by Dec. 20 to pay its bills. It has secured $22.5 million in pledges, contingent on the team’s ability to raise that additional $7.5 million.

I must admit that something about this stinks. Their budget has gone up more than ten times from its original estimate, from $8 million to $85 million. They have so far raised $55 million of hard cash, which is still about seven times their original budget, and with this they have actually built their spacecraft. Why do their need another $30 million? And why the hard December 20th deadline or they shut down?

As I say, something about this situation doesn’t feel right to me.

Share

Israeli competitor for X-prize faces shutdown due to lack of funds

Capitalism in space: SpaceIL, the Israeli finalist in the Google Lunar X-Prize competition, must raise $20 million in the next two weeks or face shutdown, even as they are about to complete testing on their rover.

This is the second of five finalists facing shutdown due to an inability to raise enough investment funds. With a third depending on a rocket that might not be operational by the March 31, 2018 deadline, the prize looks increasingly like no one will win it.

This does not mean that none of the companies will succeed, only that at least one or two might fly after the deadline. If they do, they will still demonstrate that they have the ability to launch a scientific planetary mission for pennies (compared to what the government has been spending). At that point I would expect them to become very viable and profitable spacecraft companies. Thus, it would actually be a good investment for some rich person to put their money behind these projects. In the case of SpaceIL, however, the problem might be that it is a non-profit. It appears it is not designed to be a profitable company down the road, but to merely serve propaganda purposes now.

Anchored in the “can-do”, innovative approach and creative energy that has characterized the Jewish State since its founding, SpaceIL aims to replicate the “Apollo Effect” in Israel, inspire and motivate the next generation of Israelis to pursue a future in STEM professions. Since its establishment as a nonprofit, SpaceIL has pledged to donate the $20 million in prize money, if it wins, to the promotion of science and scientific education in Israel, and to thus contribute to Israel’s economy and security.

Since its founding, many have contributed to the project. The main donor is the Dr. Miriam and Sheldon Adelson Foundation. Additional supporters include Morris Kahn, Sami Sagol, Lynn Schusterman and Steven Grand, among others. The project formed exceptional collaborations between the private sector, the academia and governmental companies. Israeli Aerospace Industries (IAI), the Weizmann Institute of Science, Tel-Aviv University, Israel Space Agency, Israeli Ministry of Science, Bezeq, dozens of engineers and hundreds of volunteers are among SpaceIL’s partners. Over the years, SpaceIL volunteers have reached half a million children and youths throughout the country.

All of this has wonderfully good intentions, but I think they would be better served to focus on making money. A successful and profitable space company will do far more to inspire Israel’s children than mere propaganda.

Share

Another Google Lunar X-Prize contestant announces launch contract

The competition heats up: Another Google Lunar X-Prize team, SpaceIL, has announced the signing of a launch contract, this time as a secondary payload on a Falcon 9 launch in the latter half of 2017.

Their press release says they are the first to produce an actual contract to the contest, which only means the Moon Express contract hasn’t yet been delivered.

This two launch contracts suggest that the competition for the X-Prize will get interesting in 2017. As a secondary payload, SpaceIL will not be able to schedule its launch. And while Moon Express, as a primary payload on smallsat rocket, can schedule its launch, it is depending on a new untried rocket, Electron, being developed by a new untried rocket company, Rocket Labs.

And since SpaceIL is an Israeli company, be prepared for some Muslim and leftwing heads to explode should it win the X-Prize. How dare they oppress those Palestinians by getting their rover to the Moon first!

Share