Startups of a leading incubator are being encouraged to pursue course in space exploration due to strong indicators that occupancy in Mars will begin over the next decade.

A huge buildup of space-related enterprises will be established in the next seven years and new entrepreneurs are being directed into this opportunity slot by the Founder Institute’s startup launch program, said CEO Adeo Ressi on a recent podcast.

“I know Elon Musk very well,” says Ressi. “He says we’re going to get to Mars with humanity by 2024. He’s not always exactly right on the timing but he always gets it done – so if it’s not 2024 maybe it’s 2026.”

“If in fact, we’re going to be living on Mars in seven years, we’re going to need hundreds if not thousands of space related companies started between now and then,” he said.

Ressi said that in May last year the institute has launched a new program for incentivising space-related companies called Star Fellow, which will hope to boost companies specialising in this field in 2018.

“Previous to the Star Fellow program, we had zero graduates working on space. In 2017, we will comfortably launch between 25 and 50 new space-related startups all around the world,” he said.

Ressi said the institute’s main focus is to foster innovation and redistribute power to entrepreneurs who can enact their ideas for environmental efficiency and global solutions.

“I don’t look at a single thing, with some exceptions, that are done well, and every exception where I see that they’re done well, it’s usually some sort of startup or new technology firm that’s done it. So automotive: a disaster; Elon Musk and Tesla: a win.”

“And you just look around at food, the mass harvesting of animals and disaster, and then you see startups creating protein alternatives, a win.”

On the Deciding by Data podcast, Ressi also talked about the institute’s student selection method and the genetic personality traits that make a good entrepreneur. Listen to the podcast here.

Prepared and edited by Arthur Velker. Follow on Twitter here.

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