LOS ANGELES (LAVA PR) — The Los Angeles Venture Association (LAVA), the leading professional membership trade group fostering venture capital investment and offering programs showcasing Southern California investment opportunities, today announced the launch of LAVA Space, a peer group which focuses on all aspects of the emerging space economy, including military and government applications, aerospace technology, and commercial business ventures, including earth-based space-themed experiences.
LAVA Space joins a family of a dozen LAVA communities such as LAVA Fintech, LAVA Bio, LAVA Green and LAVA Media. The group will be supported by the Space Tourism Society (STC) and its affiliated event, the Space Tourism Conference, both also based in Los Angeles.
“We’re very excited to add LAVA Space to our growing list of peer communities,” said LAVA Executive Director Darren Eng. “Los Angeles has historically served as a global source of aviation and aerospace innovation and continues to lead again as a popular hub for the space marketplace. As the Space industry experiences phenomenal growth, we highly value the alliance of LAVA Space with organization partners embedded in the sector.”
Join STC for Our First Joint LAVA Space Event –
Courtesy Aerospace & Defense Forum
“U.S. Space Policies for the Final Economic Frontier”
Joint ADF Los Angeles/San Fernando Valley Chapter Meeting with LAVA Space supported by STS & STC
Thursday, February 11, 2021
Webinar: 8:00 – 9:00 am Pacific Time
Register (Use code STCGuest)
Global revenue from the space economy was more than $400B in 2019, with projections by many of an industry in excess of a trillion dollars by the mid-2040s. In 2016, the FAA estimated the U.S. aerospace industry was valued at more than $150B, which may be an underestimate as the industry is increasingly driven by private enterprise, due in part to a significant shift in NASA strategy that embraces partners from the private sector. A dynamic subsector, space tourism is forecast to represent an annual market of over $20 billion by 2030.
“The Space Tourism Society is pleased to support LAVA in this effort, which signals that the NewSpace movement is front and center in Southern California with all the opportunity that implies,” said STS president John Spencer, who founded that organization in 1996. “What makes this a smart match for mutual support and promotion is that space tourism encompasses so many industries represented by the LAVA communities also thriving in Los Angeles, including travel, engineering, ecology, medicine, finance, and all forms of media and entertainment.”
Aside from legacy entities with roots or longtime presence in Southern California, like Caltech’s JPL, Aerojet Rocketdyne, Boeing, Northrop Grumman and Lockheed Martin, which continue to contribute innovations in their own right, others such as SpaceX, Axiom Space and Virgin Orbit with ties to Los Angeles are major drivers to the growth.
“LAVA honors its commitment to stay on top of trends that drive Southern California industry, keeping Los Angeles the leading global market maker that it is, and one of the largest and most vibrant economies in the world,” noted LAVA President Mark Siegfried. “LAVA Space is another great example of forward motion.”
LAVA Space will feature webinars, pitch sessions and all of the networking and deal making opportunities that LAVA members value.
“We’re looking forward to working together,” added Space Tourism Conference (STC) co-founder Allison Dollar. “New technology achievements, company rollouts and investment announcements in Space are released at a fast and furious rate every month. The outlook is very positive, so our tagline for STC works well for LAVA Space, too: Profiting from the Space Experience Economy.”