People of all nationalities, ages, and professional backgrounds are welcome to register for the competition. The competition focuses on four themes: Ground Equipment & Services, Satellite Manufacturing, Satellite Services, and Satellite Launch, alongside others. This year, the competition will feature dual tracks – Implement Category and Innovation Category – running in parallel in order to spur more cross-disciplinary talents to enter the space industry. Moreover, various training workshops will be available to assist teams in their preparation and industry networking. Successful teams, both finalists and winners, will have the chance to engage with domestic and foreign space industry players and access promotional resources!
The space industry encompasses the space economy industry, the satellite industry, and the rocket industry. Within the satellite industry, there are four main components: satellite manufacturing, satellite services, ground equipment, and satellite launch. According to a Morgan Stanley report, the global space industry is forecasted to surpass $1 trillion by 2040. Short to medium-term projections suggest that satellite broadband services will be the primary revenue driver, making up 50% to 70% of the industry’s growth. Launching low-orbit satellites for broadband internet is expected to become the leading commercial endeavor in the space industry.
The Taiwan Space Agency estimates that Taiwan’s space industry had a total production value of around NT$215.8 billion in 2022, with ground equipment accounting for NT$212.9 billion (98.7%). According to assessments by the Ministry of Economic Affairs, Taiwan’s satellite industry has reached a point where it can independently design and construct small satellite systems and subsystems. Major global satellite companies like SpaceX and OneWeb are already purchasing relevant components from Taiwanese suppliers, with the potential for these components and sensors to be gradually manufactured domestically, presenting an opportunity for Taiwanese firms.
As space technology garners increasing global attention as an emerging industry, countries actively invest resources to gain a competitive edge. Recognizing this trend, the Executive Yuan has classified the space industry as one of the six core strategic industries. Leveraging its strengths in semiconductors, information and communication technology, and precision machinery, with a significant focus on ground equipment, Taiwan continues to foster international collaboration in areas such as space applications, satellite manufacturing, satellite applications, and rocket launches, aiming to diversify Taiwan’s presence in the space industry.Since 2022, Taiwan has been actively advancing the Space Energy and Industrial Development Plan, which brings together resources from multiple government agencies such as the National Science and Technology Council, Ministry of Economic Affairs, Ministry of Digital Affairs, and Ministry of Education. The plan focuses on three key areas: satellite industry promotion, talent cultivation, and cutting-edge technology development. Its goal is to lead Taiwan’s space technology and industry to higher levels and spur domestic industrial growth.
Governments worldwide also include talent cultivation as part of their space development plans while enhancing their space industry and application capabilities. To bring together Taiwan’s innovative minds and technical expertise in the field of space and to enhance the resilience of Taiwan’s space supply chain, the Ministry of Economic Affairs’ Industrial Development Administration launched the RunSpace Innovation Challenge in 2022. This year marks the third edition of the competition, with themes focusing on four main areas: Ground Equipment and Services, Satellite Manufacturing, Satellite Services, and Satellite Launch, alongside others. In 2024, the competition is evolving with the introduction of a dual-track format comprising Implement Category and Innovation Category. This is aimed at encouraging a broader range of talents from different countries and disciplines to participate, regardless of their professional backgrounds. Enterprises, startups, employed individuals, and students from diverse fields such as business management, design, information technology, architecture, languages, and medicine are invited to propose innovative solutions to various service scenarios through this competition.
Competition is open to individuals of all nationalities, ages, or affiliations with a company. Teams can consist of 1 to 5 members, and interdisciplinary teams and those with existing backgrounds in space or satellite-related fields are welcome to register and participate.
For more details, please visit the competition website: https://runspacechallenge.com/tw/index.html
About Author
