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AMZN Stock Slightly Down, Amazon Launches AWS Space Accelerator Program

UTC by Steve Muchoki · 3 min read
AMZN Stock Slightly Down, Amazon Launches AWS Space Accelerator Program
Photo: AWS

The Amazon AWS Space Accelerator program will include 10 companies that may receive up to $100,000 in AWS Activate credit.

Amazon-backed AWS (Amazon Web Services) has launched a new program dubbed AWS Space Accelerator in partnership with UK-based venture firm Seraphim Capital.

The AWS Space Accelerator program has been set to take place in June to help startups venture into the space exploration industry. “We designed the AWS Space Accelerator for startups looking to drive technical and commercial milestones by leveraging cutting-edge technology in space,” Seraphim noted on its website.

AWS Space Accelerator Program

The Amazon AWS Space Accelerator program will include 10 companies that may receive up to $100,000 in AWS Activate credit. After the program is completed, successful startups will also benefit from follow-up programs that will see them venture into the space exploration industry.

Space startups can send their proposals with the deadline set by April 21, 2021. Successful applicants will benefit in various aspects from the companies including technical assistance, in business, and mentoring resources.

The four-week program will accept startups at all stages but must meet certain conditions to be enrolled. “Qualifying missions can include, but are not limited to, earth observation, electronics and robotics, spacecraft launch and delivery, spacecraft hardware and software, launch manufacturing and launch operations, and more,” AWS noted through a blog.

On the Leadership Board

“Startups provide a catalyst for bold new experimentation in the space industry,” said Clint Crosier, director of aerospace and satellite at AWS. “We are proud to announce the AWS Space Accelerator as part of our ongoing commitment to help startups succeed and to shape the future of aerospace. We look forward to helping the first cohort of companies launch and grow through this new program.”

AWS in partnership with Seraphim intends to further develop infrastructure that will help drive the cloud computing industry to the next level. Fueled by the coronavirus pandemic, there has been a huge demand for cloud computing services as more businesses adopt an online model of working.

“AWS is building a world-class accelerator program for space startups tailored around the use of AWS services, and we are excited to work with them,” said Rob Desborough, partner, Seraphim. “Combined with Seraphim’s unique domain expertise in space investment and acceleration, we hope to attract, select, and accelerate startups who will go on to address some of the world’s biggest challenges.”

The announcement did not, however, stir up Amazon.com Inc (NASDAQ: AMZN) stock. According to market data provided by MarketWatch, Amazon stock closed yesterday trading at $3,050, down 0.66% from the day’s opening price. At the time of writing, in the pre-market, teh stock is 0.042% down. Amazon stock remains down approximately 7% in the past three months, despite rallying over 60% last year. However, a survey by MarketWatch indicates Amazon stock received an average Buy rating from 51 ratings.

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Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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