Space & Biology – we have another episode on this exciting intersection of deep tech themes. My guest this week is Paul Kamoun from SpacePharma. He also organizes an entire conference on space bio, called “Health from Space” every year. We talk about what use cases he finds most exciting, and the opportunities and challenges on the road to scaling space biology into the next big thing. Enjoy!

🕰️ Timestamps: 00:00 Intro 00:17 Background on Paul Kamoun & SpacePharma 01:18 The Exciting World of Space Biology 04:37 Understanding the Role of Gravity in Biology 08:38 Applications and Use Cases in Space Biology 13:50 Challenges and Opportunities in Space Manufacturing 18:34 The Future of Space Life Sciences 37:15 Regulatory and Policy Considerations 40:51 Closing Thoughts and Science Fiction

🔗 Health from conference:

🏠Website : https://www.healthfromspace.com/en/

🔗 Follow us:

🏠Website : https://www.e2mc.space/

🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast

🔗 Follow Raphael:

🔷LinkedIn - https://www.linkedin.com/in/raphaelroettgen

🌐Instagram - https://instagram.com/raphael_space/

◇ Twitter/X - https://x.com/RaphaelE2MC

To Learn more about Space & the Space Economy:

1. "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO
2. edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space-
3. Space Business Newsletter 📬 https://spacebusiness.substack.com/

Is the space sector actually financed in the right way? That’s probably the main question I’m discussing with my guest Justin Stevens, founder and CEO of the investment firm Overlap Holdings. He spent 18 years at Apollo Global Management, a very prominent private equity firm. So he’s a Wall Street guy like me and, I think, qualified to voice an opinion on this questions which we may not ask enough. Enjoy!

🕰️ Timestamps:

00:00 - Introduction

01:08 - Guest Intro

02:31 - Overlap Holdings Name Origin and Activities

03:43 - Capital Solutions and Government Solutions

06:24 - The Role of Debt in Frontier Tech

12:08 - Types of Debt and Their Applications

21:21 - Government Contracts and Lending

23:30 - Navigating Government Lending Challenges

24:00 - Leveraging a Detailed Lender Database

27:05 - The Importance of Government Financing

30:12 - The Evolution of Space Investing

33:57 - Investor Perspectives on Space

36:09 - Founding Overlap and Investing in Frontier Technology

39:17 - Future of Space and Investment Strategies

43:29 - Hypothetical Space Startup Ideas

46:09 - Science Fiction

📍 About the Guest:

Justin is a seasoned investor and operator with over 18 years as a Senior Partner at Apollo Global Management, where he developed deep expertise in financial structuring and investment management. He has invested in, built, advised, and overseen organizations ranging from early-stage frontier tech startups to large, publicly traded companies. With a strong network across finance, industry, and government, Justin brings a multidisciplinary approach to navigating complex markets and driving long-term value across sectors.

🔗 Connect with Justin:

🤝 LinkedIn: https://www.linkedin.com/in/justinstevensny/

🔗 Follow us:

🏠Website : https://www.e2mc.space/

🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast

🔗 Follow Raphael:

🔷LinkedIn - https://www.linkedin.com/in/raphaelroettgen

🌐Instagram - https://instagram.com/raphael_space/

◇ Twitter/X - https://x.com/RaphaelE2MC

To Learn more about Space & the Space Economy:

1. "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO
2. edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space-
3. Space Business Newsletter 📬 https://spacebusiness.substack.com/

My guest this week is Pierre Lionnet, Director of Research at Eurospace, who has followed the global space sector for over 30 years. We discuss a range of topics including e.g. SpaceX, the launch sector in general, and national space policies. Pierre is one of my favorite people to follow on space as he usually provides very frank and thought out opinions. I think this comes through in this episode - enjoy!

🕰️ Timestamps:

00:00 - Introduction

00:55 - Guest Introduction

01:34 - Day-to-Day Activities at Eurospace

03:15 - Challenges in the Space Sector

06:22 - SpaceX's Impact on the Space Industry

07:35 - Economic Contributions and Cost Structures

11:02 - Production and Market Segmentation in Space

21:44 - Institutional Programs vs. Commercial Ventures

27:40 - Starlink's Business Model and Future Prospects

35:12 - SpaceX's Dominance in Commercial Launch

35:56 - The Cost and Pricing of Space Launches

38:40 - Starship's Potential and Market Impact

40:51 - Challenges for New Market Entrants

43:25 - National Space Policies and Industrial Strategies

46:27 - Global Space Economy and Future Projections

55:16 - Advice for Emerging Space Nations

01:00:19 - The Future Structure of the Space Economy

01:05:13 - Science Fiction and Space

01:06:07 - Conclusion

📍 About the Guest:

Pierre Lionnet is the Research and Managing Director at Eurospace, the trade organization of the European space industry). He labels himself a space economist, being an economist by training and being professionally involved in the analysis of space markets, space industry supply chains and space technology and innovation trends for the past 30 years

🔗 Connect with Pierre:

🤝 LinkedIn: https://www.linkedin.com/in/eurospacepierrelionnet/

🔗 Follow us:

🏠Website : https://www.e2mc.space/

🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast

🔗 Follow Raphael:

🔷LinkedIn - https://www.linkedin.com/in/raphaelroettgen

🌐Instagram - https://instagram.com/raphael_space/

◇ Twitter/X - https://x.com/RaphaelE2MC

To Learn more about Space & the Space Economy:

1. "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO
2. edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space-
3. Space Business Newsletter 📬 https://spacebusiness.substack.com/