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Small business in space

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ESA/Handout/Reuters/File

(Read caption) In this file photo, an artist's impression released by the European Space Agency shows a Galileo satellite in orbit. Demios Space, a company based in Madrid, is an impressive startup that launched its first satellite into space with money out of pocket.

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I am in Madrid, Spain this week with a group of MBA students on a one week intensive study abroad.

Yesterday we visited an impressive company, Deimos Space, headquartered here in Madrid.

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The founders were able to build a high growth company that launched their own satellite into space using only self-funding of $250K from the founders.  An amazing story of what bootstrapping and building the right team can accomplish.

They started, grew to a global presence in the space market, and exited their venture all within a ten year period.

Most of the founders are still with the company helping to take the core technologies they developed in Deimos into other markets and other applications.  There is a great description of how far they have taken their business model on their website.