Call for Ideas: Financial and Business Modelling for the Space Resources Value Chain 

Space agencies and private companies are redefining lunar exploration, setting in motion activities to enable a sustainable future beyond low earth orbit (LEO). In this context, In-Situ Resource Utilisation (ISRU) is emerging as a key driver for the growth of space resources and diversification of lunar markets and enabling the development of lunar applications, poised to catalyse economic growth globally and enhance terrestrial industries, ultimately improving life on Earth. 

For Europe, ISRU represents more than just technological advancement; it is an opportunity to lead in the global space economy. ESA is committed to ensuring that European industries thrive in this new frontier. By developing robust financial and business modelling, ESA aims to de-risk investments, stimulate market creation, and lay the foundation for economic operators to enter the space resources value chain with confidence.
 

A Unique Opportunity: Co-Sponsored Research Projects

ESA is launching a Call for Ideas to co-fund three co-sponsored research projects focused on the financial and business modelling of the Space Resources value chain. The goal? To assess the economic viability of lunar resource utilisation and to develop a comprehensive reference financial model. This model will serve as a key tool for ESA’s strategic planning and provide European businesses with critical insights for their own investment strategies for the lunar economy.
 

Key Research Areas 

The selected research projects will develop financial and business modelling that:

• Forecast future costs, revenues and investment risks associated with ISRU. 

• Define economic opportunities across the entire Space Resources value chain. 

• Analyse market demand, supply chains and value creation in lunar industries. 

• Compare ISRU-based architectures with traditional resource supply models to assess sustainability and efficiency. 

• Address legal, regulatory and compliance considerations for future space operations. 

• Explore real-world applications through case studies of potential economic operators in the field. 

Who Should Apply?
 

This Call for Ideas is open to PhD and post-Doc researchers with expertise, ideally combining business and financial modelling, space economics and engineering, to be co-sponsored by universities, research institutes and industry stakeholders. Successful applicants will work collaboratively with ESA and industry partners to develop models that will shape the future of the lunar economy. 

Why It Matters

A sustainable lunar economy will not happen overnight. It requires vision, investment and careful planning. By funding research into financial and business modelling, ESA is tackling market uncertainty by starting, with the present Call, a research stream to assess the economic viability of identifying, extracting and using Space Resources. These insights will be instrumental in attracting private investment, defining business cases, and supporting the emergence of new European Space Resources Economic Operators.
 

Implementation and Selection Process

ESA will support research efforts through a co-sponsored funding model, where: 

• Universities or research institutions that that will co-fund the research and/or will act as Legal Entity and Prime Contractor and provide the PhD supervisor and PhD title  

• Industry partners (in case of post-doc researcher not needing a PhD title) that will co-fund the research and provide real-world applications. 

• PhD or post-doc researchers who will conduct research in direct collaboration with ESA and industry stakeholders.
   

Timeline

• Call issue: 4 March 2025 

• Webinar & Q&A: 14 March 2025 

• Full proposals due: 21 April 2025 

• Selection notification: 21 July 2025 

If you would like to attend the seminar held on 14 March 2025, please register here: https://events.teams.microsoft.com/event/88eed5f4-c8c5-4098-9228-34d39d9602ea@9a5cacd0-2bef-4dd7-ac5c-7ebe1f54f495 

Get Involved
ESA is inviting visionary minds to contribute to the economic foundation of the space resources industry. This is your chance to help define the financial mechanisms that will turn space resources into a viable and investable market. 

🔗 Interested? Submit your proposal and shape the next chapter of space exploration: https://ideas.esa.int/servlet/hype/IMT?documentTableId=45087196663643642&userAction=Browse&templateName=&documentId=d088331f7e71e309c55822da41e5d1fe