Ibrahim Moustafa
202000938 Nile University
Entrepreneurship Assignment 2
SSCI-103
1- Give an example of an inspiring Entrepreneur/Startup.
Elon Musk is a great example of a motivational business person who has worked with many
new and important companies. He helped start PayPal, a service for online payments, which
was one of his first big wins in the online money world. But, he's probably more famous for
starting companies that want to make a big difference in the world. One of his biggest
projects is SpaceX, which aims to make it cheaper to travel to space so that people can live
on Mars. SpaceX has done really well in the space field, being the first company that's not
run by the government to send a spacecraft into orbit, to launch, orbit, and get back a
spacecraft, and to send a spacecraft to the Space Station.
2- What Problem are they trying to solve?
SpaceX wants to fix the issue that traveling to space is very expensive and not many people
can do it. Elon Musk started SpaceX because he wants humans to be able to live on more
than one planet. This could help keep people safe if something really bad happened on
Earth that made it impossible to live here. SpaceX is working on rockets that can be used
again to lower the cost of going to space. This would make it easier for more people to go to
space and help start living on Mars.
3- Who are they solving it for?
Everyone can benefit from the new ideas and knowledge that come from space projects,
making it easier to dream about traveling to space. Scientists and researchers can go to
space more often and for less money, which lets them do better experiments and find out
new things about the universe. Space groups like NASA and companies that work with
satellites are saving money on sending things to space, making it easier to use space than
ever before. Also, in the future, people might see Elon Musk's big plan of living on Mars
come true. This plan is all about making sure humans can last a long time by living on other
planets.
4- How are they solving the problem?
SpaceX has changed how we get to space by creating the Falcon 9 and Falcon Heavy rockets.
These rockets can be used again, which has made going to space a lot cheaper. By making
these rockets reusable, SpaceX has made exploring space easier on the environment and on
budgets. They're working on a new spacecraft called Starship that can be used over and
over, aiming to make space trips even cheaper and available for more types of missions.
SpaceX works with businesses and government groups like NASA, offering them launch
services. This helps those organizations do what they need in space while also supporting
SpaceX's big dream of making people live on Mars. SpaceX's work is starting a new chapter
in space exploration, making it possible for more missions and projects to go to space.
5- How are they making Money?
SpaceX has become a big player in the commercial space market, making a lot of money by
launching satellites and other payloads for different customers. These customers include
businesses, international governments, and more. SpaceX can send up communication and
earth observation satellites, as well as scientific equipment, showing they can handle a wide
range of space needs. A big chunk of SpaceX's money comes from working with NASA, doing
things like sending supplies to the International Space Station (ISS) and carrying astronauts
there as part of the Commercial Crew Program. Besides NASA, SpaceX also has deals with
other countries' space agencies and defense departments, which adds to its earnings.
SpaceX is also getting into the internet business with its Starlink project, which is about
setting up a huge network of satellites to provide fast internet all over the world, even in
places that don't have good internet now. This new project is another way for SpaceX to
make money, and it fits with its bigger goal of connecting people everywhere.
