How to Start a Space Company with €2K | Thomas Sinn @ DCUBED

Thomas Sinn is the founder of DCUBED, which develops mechanisms and deployable structures that need to be small in rockets but big in space. In this episode of Rockets & Radars, Thomas shares their journey from 3D printing prototypes in a basement to shipping hardware to the International Space Station. While growing from a €2,000 prize to a multi-million euro company. D-Cube is making space hardware more accessible by building critical release devices and deployment mechanisms for satellites and space stations.Get intro to Thomas: https://brdg.app/s/5vhet4-----------------------------------------------Timestamps00:00 Introduction08:45 From Academia to Rocket Lab13:20 Starting with 3D Printed Parts18:30 Getting MIT as First Customer27:45 Patent Strategy & Working with IP Lawyers32:40 COVID Crisis & Basement Operations37:15 First Institutional Money40:20 How to find investors48:50 Preparing for Series A Round54:20 Short & Long Term Future Plans56:10 Rapid Fire Questions with Investors1:02:10 Final Advice for Space Founders-----------------------------------------------Episode Takeaways:1) Don't Be Too Secretive About Your Technology- Being too confidential can lose you opportunities- Focus on protecting processes/tolerances, not designs- "If you're too confidential about it... you've already lost the foot in the door"2) Go to Market Early with Imperfect Products- Launch at 80% readiness to get customer feedback- Early market validation is crucial- "Go advertising your products early... sometimes the market assessments we do are wrong"3) Build Your Website Immediately- First MIT customer found them through their website- Put information and pictures online even if not perfect- "Nobody knows what you're doing if you don't publish it somewhere"4) Choose Investors Based on Personal Fit- Getting an investor is "almost like a marriage"- Look for investors in similar companies' portfolios- Get references from other founders about investors5) Time Your Fundraising Strategically- Avoid summer and winter breaks- Aim to close in May/June or mid-November- "You need to consider summer break and winter break"6) Start Global from Day One- Space industry is inherently international- Don't focus only on local markets- "The space industry is global... there's a lot happening all around"7) Balance Visionary Goals with Practical Steps- Started with simple actuators before space manufacturing- Use current revenue to fund future innovations- "We always said we want to follow our dream to do something very big in space"