Broadcast 503 (Special Edition)

Mary Napier was the guest for this Space Show program. Ms. Napier provided us with a brief history of the biotech industry and how it got started, then we began discussing biotech and space commerce. During the program, Ms. Napier referenced several important criteria which can be applied to space commerce in general, not just the biotech industry. We talked about team and management selection, how to talk to the customer, how the customer should be interacting with the company, making the venture as terrestrial looking and valuable as possible and even referring to microgravity for example rather than space. Ms. Napier also discussed the associated risks of a space business, the long term nature of the business and what is appropriate and not appropriate for the venture capital community. We had a good discussion on assumption building and use with reality checks and examples. Mary spoke about using established investment and business analysis tools as a way of gaining credibility with the business plan. She mentioned Gant charts, gap analysis and scenario analysis. She also referenced the use of unit model economics and cash in and cash out tables. This program provides important information about building business plans, tools to be used, reality checks, invests ranging from angels to venture capitalists. You can contact Mary Napier with your comments and questions by using drspace@thespaceshow.com. As soon as I receive comments for her, I will forward them to Mary.