Director's welcome

The Economy of Space has considerably changed over the last few decades. Starting from an almost exclusively government-driven sector in the 1950’s and 1960’s, one can note a strong shift from R&D towards commercial industrial and service applications since. The 2008 Space Report of the Space Foundation estimates that only 31% of the recent space activities are government funded, with 14% commercial infrastructure and 55% commercial space activities.

However, more than these figures express, space is still an economic sector in transition. The vested Treaties, which were developed in the early days of government-led space exploration, are forming a strong regulatory backbone, but will have to be supplemented to remain effective within a commercially oriented framework.

Under these circumstances, the initiative taken by the Isle of Man Government by creating the International Institute of Space Commerce (IISC) is very timely. This decision reflects how the Isle and in particular the E-Business and Space Commerce division of the Treasury understand and commit themselves to the needs of the rapidly expanding new space economy.

The objective of IISC will be primarily to act as an independent platform for space commerce studies which are close to the needs of the commercial space sector. Indeed, in the tradition of the International Space University (ISU), close interrelation will be sought with the main stakeholders in order to make sure that those issues are treated with priority which are sensed to be the most relevant and urgent one.

This way, IISC hopes to fulfil a role as a facilitator for increased activity in the new Space Economy and it is an honour for me to be able to initiate these endeavours.

Prof. W. Peeters
IISC Director
Vice-President Academic Affairs, ISU