INNOVATORS VS COVID 19
Treating Innovation as a Constant Companion Builds Resilience
Bobby Bahov of Space Mining Technologies tells us how they develop critical technologies enabling sustainable space exploration.
First of all, how are you and your family doing in these COVID-19 times?
Bobby Bahov: Doing okay, thank you for asking. Looking forward to things getting better in the second half of the year when the vaccination campaigns will start having a significant effect, and the global economy will open again.
Tell us about you, your career, how you founded Space Mining Technologies.
Bobby Bahov: Space Mining Technologies was founded in 2017 at a startup weekend event where we all met for the first time and formed the original team. There was an immediate connection because we were all passionate about space exploration and utilizing space resources. Since then, we have been working hard on our R&D, and the team has gone through some transformations, but I believe we are stronger than ever, and we keep growing.
How does Space Mining Technologies innovate?
Bobby Bahov: In the space industry, especially when it comes to new directions like space resource utilization, innovation is a constant companion. Hardly any of the things we are working on have been done before, and even if they have been, there’s plenty of room for improvement. This builds an organization’s resilience over time.
How does the coronavirus pandemic affect your business finances?
Bobby Bahov: We are a young startup, and our costs were already optimized to a minimum. We were also already working remotely, so, fortunately, we didn’t suffer a big hit.
Do you use any specific tools to be efficient?
Bobby Bahov: Yes, we try to analyze the team’s productivity and keep it at high-efficiency levels at all times. We also try to identify process bottlenecks as early as possible and tackle them quickly. In our field, being inefficient means losing a competitive advantage.
Did you benefit from any government grants, and did that help keep your business afloat?
Bobby Bahov: Not grants per se but recovery programs, yes. More prominently, there was a very useful startup mentoring program with free advice from very senior professionals. This is was quite valuable.
Your final thoughts?
Bobby Bahov: I believe that the next few months will be crucial for the global economy’s recovery. We have observed the biggest economic hit in a while, and the repercussions will have to be dealt with for some time. However, as with every other similar crisis in history, I am optimistic that things will eventually get to an economic boom.
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