Isle of Man satellite firm ManSat Ltd played a leading role at a groundbreaking new conference held recently in Silicon Valley, California.
The SmallSat Symposium – heralded as ‘the small satellite business and finance show’ – was the first of its kind in Silicon Valley, which is home to many of the world’s largest high-tech corporations and several thousand startup businesses.
A range of speakers and panel discussions explored the technologies, business aspects, and the financial and legal knowledge that is leading the rapid growth in the small satellite market.
ManSat was one of the symposium’s sponsors, with CEO Chris Stott moderating a panel discussion on ‘Structuring Financial Alternatives’, and taking the opportunity to showcase the Isle of Man.
Chris explained: ‘This was a significant new event, held in the heart of Silicon Valley, affording a great opportunity to highlight the Island in front of the industry’s leading entrepreneurs and financiers, venture capitalists and representatives from the core satellite industry. The keynote speaker was Steve Jurvetson of Draper Fisher Jurvetson.
‘Our panel looked at a host of issues facing entrepreneurial companies – such as how best to obtain growth, either organically or through targeted acquisitions; which funding vehicle is most likely to invest in these companies to supply risk and/or working capital; and which financial innovations will accelerate growth.
‘The event was sold out and standing room only with more than 300 attendees, 30 exhibitors and sponsors, and more than 70 speakers taking part. The organisers are now looking for a larger venue for next year’s event, as the event was oversubscribed and many people had to be turned away.’
The panelists involved with Chris’s discussion were:
With offices on the Island, in the UK and the US, ManSat carries out satellite filings for the Isle of Man under a contract with the Manx Government’s Communications Commission.
Chris is the current global chairman of the Society of Satellite Professionals International, as well as chairman of its Isle of Man Chapter. He added: ‘The symposium provided the opportunity to reinforce the message that the Isle of Man continues to grow as a crucial player in the satellite industry.
‘In September last year, independent research ranked the Isle of Man as the third biggest player in the world, behind only the UK and the USA, as the jurisdiction of choice for commercial geostationary satellite operators. And among British Crown Dependencies and Overseas Territories, the Isle of Man holds first place, ahead of jurisdictions including Jersey, Gibraltar, Bermuda, and the Cayman Islands.’
