City Commission Approves Strategic Agreement With Spaced Ventures

BROWNSVILLE, Texas, Nov. 17, 2020 /PRNewswire/ -- The Brownsville City Commission at a Regular Meeting on Tuesday, November 10, 2020, approved a strategic agreement between the City of Brownsville and Spaced Ventures for local development of the space industry. The economic development agreement in the amount of $250,000 will help with their development, including hiring local talent.

Spaced Ventures is an innovative investment platform that facilitates public investments in private space companies and aims to be the largest community of space investors in the world. Their goal is to help fund early stage space companies while also providing unique public access to these investment opportunities. The company has also developed SpacedBase, a data and analytics tool that provides insights into the space industry to its members. Startup Pill has ranked Spaced Ventures as the number two best Florida based startup. These startups are taking a variety of approaches to innovating inside of Florida and around the world.

"We are excited to partner with the City of Brownsville," said Aaron Burnett, CEO and founder of Spaced Ventures. "It's a unique city that is actively supporting early-stage space companies, by leveraging its talent, experience and location. Our plan is to hire a team of analysts and data scientists in the Brownsville area, to further develop our platform. We look forward to building a new space economy together."

"The transition of the space industry from a government funded to a privately funded sector will take time. Capital formation in emerging markets is not fully formed and early stage capital is often scarce," said J. Brant Arseneau, founder and Burnett's partner, while commenting on the challenges of developing capital markets. "Our mission is to address this need by connecting new public capital to early stage space companies, igniting innovation and helping local space economies like Brownsville grow."

"The City of Brownsville is excited about this partnership with Spaced Ventures and focused on developing the NewSpace Economy in Brownsville. With the acceleration of SpaceX launch activities, and the continued enthusiasm that they bring to our community, we believe that the time is now to forge strategic partnerships to further attract the NewSpace Sector to Brownsville. It's a great time to be in Brownsville and the world is taking notice," said Trey Mendez, Brownsville Mayor.

Contact: Felipe Romero
[email protected]

SOURCE City of Brownsville