Man and space – The Isle of Man, the IISC and the new space economy

With the arrival of private entrepreneurs and the appearance of such things as prizes to stimulate space initiatives, the space economy is changing rapidly from its initial government-driven character. A number of countries and territories, such as the Isle of Man, have understood the growing role of this new space economy and are preparing the appropriate boundary conditions to support its further development. This article shows why the Isle of Man may be uniquely placed to take advantage of recent developments in the space economy, thanks to its business-friendly tax and regulatory regime, and discusses the island’s strategy to attract space businesses. The establishment of the International Institute of Space Commerce, a recently formed think-tank, is an integral part of this strategy.