Technological evolution in the space domain is generating important transformations in the industry and opening new opportunities for the development of innovative products, services and business models across different sectors. In particular, the space value chain is evolving, with the traditional upstream driven technology push (upstream creates new applications for the downstream market to follow) transitioning into a market demand pull (downstream drives space systems development with needs for new services). These structural changes are generating an increasing demand by large companies and SMEs operating either in the space industry and in other manufacturing and service sectors of new professionals that have a sound knowledge of the business opportunities related to the new space economy. Indeed, the new space infrastructures will induce the emergence of novel applications across different domains ranging from mobility and logistics, to energy distribution, the monitoring of environment and critical infrastructures, precision agriculture, healthcare services, innovative insurance models. The course will provide an in-depth analysis of the evolving economic scenarios of the new space economy and a focus on innovation management. Students will acquire an understanding of the economic dynamics in the space sector and of the new business models. The effective implementation of such business models requires an understanding of the interplay between new technologies, competition dynamics and regulatory issue. The course will involve contributions of representatives from industry leading corporations, space agencies and new space startups. Students will carry out a team project work dedicated to the economic analysis of a new business or an innovation project.

The students will acquire specific economic and managerial skills relevant for the management of business projects in the broad area of the space economy. In particular they will acquire knowledge and competences on: • Capability to carry out industry analyses for assessing competitive advantage and value drivers across different applications and markets • A deep knowledge on the different types of innovation and the ability to understand and analyse the dynamics of innovation in the space area using different information sources, including patents • Capability to manage innovation projects in the space economy • Capability to analyse, evaluate and develop new business models in the upstream and downstream domains • Knowledge of the key industrial and institutional players in the space area at national and international level • Understanding geo-political implications of the space sector and the international space governance system • Capability to carry out team work for assessing and developing complex projects that combines technological and business components.

- Economics, in order to be able to understand the dynamics of economic systems and industrial sectors; - Business Management, in order to know the main aspects pertaining to organizations and business processes, as well as the basics of cost accounting and investment appraisal. - Strategy and Organization, in order to be proficient in dealing with concepts, models and methods for analyzing the competitive scenario and formulating strategies at corporate level.

The module will cover the following topics: • Introduction to global space industry: key established players and entrants, economic trends, public and private investments, market structures, competition dynamics, international value chains, regulatory issues. • Innovation economics: theory, tools and applications in the space sector. Determinants, taxonomies and dynamics of innovation. The impact of technological standards and the diffusion of innovation. Tools and strategies for the protection of the value of innovation. Collaboration and open innovation. • Regulatory issues for the space economy and the space Governance at the global stage (UN Treaties and institutions tasked with orbital governance) • Introduction to the geo-politics of space economy • Designing and managing innovation projects in the new space economy • Developing new business models based on space data and new technologies • Introduction to entrepreneurship in the space economy: tools and methods • The role of space agencies in supporting industry growth • Overview of national and European programmes for the space economy • Discussion of innovation cases presented by large corporates and start-ups • The project work: analysis of a space application domain, development of an innovation project, design of a new business solution.

The program is structured around 5 modules: The new space economy (15h) The economics of the sector, the investments and business trends at global, European and national level. The module includes seminars with external experts from large companies in the space sector. Technological innovation and firms strategies with a focus on the space sector (20h). Determinants, taxonomies and dynamics of innovation. The impact of technological standards and the diffusion of innovation. Tools and strategies for the protection of the value of innovation. Collaboration and open innovation. Business modelling for new space ventures (20h). The scenario of new startups in the space sector: technologies and business models. The tools and methods for developing and evaluating a new business venture in space. The module includes seminars with external experts who will present startup cases. Special topics for the space economy (10h). The geo-politcs of the space sector. Key themes in space law , regulation and international governance. The role of national and international space agencies. The module includes seminars with experts from space agencies and specialised law firms. Development of the project work (15h). Workshops and tutoring for the development of the team-based project work.

Reports and scientific articles on space economy provided by the instructors Harvard Business School case studies Strategic Management of Technological Innovation (2020) M. Schilling, Mc Graw Hill Additional reading materials: Space Economy: Storia e prospettive di business (2020) Umberto Panniello, Antonio Messeni Petruzzelli, Franco Angeli The Cosmos Economy: the industrialisation of space (2021), J.Gregg, Spinger

Modalita di esame:

Exam:

... The exam will be based on a combination of a written exam on the topics of the course (open questions on theory and discussion of a business case, 20 points) and the evaluation of the project work carried out by the students (10 points).

Gli studenti e le studentesse con disabilita o con Disturbi Specifici di Apprendimento (DSA), oltre alla segnalazione tramite procedura informatizzata, sono invitati a comunicare anche direttamente al/la docente titolare dell'insegnamento, con un preavviso non inferiore ad una settimana dall'avvio della sessione d'esame, gli strumenti compensativi concordati con l'Unita Special Needs, al fine di permettere al/la docente la declinazione piu idonea in riferimento alla specifica tipologia di esame.