| | Accenture invests in Open Cosmos to expand access to satellite data
File illustration of Open Cosmos concept.
Accenture invests in Open Cosmos to expand access to satellite data
by Staff Writers
Paris, France (SPX) Sep 12, 2023
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At this year's World Satellite Business Week in Paris, Accenture (NYSE:ACN) announced an investment and collaboration with Open Cosmos, a space technology company that focuses on the design, manufacturing and integration of satellites. Open Cosmos builds and operates space missions, providing access to high quality satellite data and insights on a global scale via a data services platform.
The two companies will help clients track and analyze data found in space in order to help solve business challenges found on Earth, particularly related to sustainability. Accenture Ventures led the investment as part of its broader Project Spotlight initiative.
Launching a satellite into space can take years of preparation and millions of dollars, putting the prospect out of reach for most companies. Open Cosmos democratizes access to satellite data by allowing multiple companies to retrieve data collected by one satellite, while also managing the satellite infrastructure with a proprietary platform technology that allows companies to easily collect and share data.
"Accenture sees a future where every company is able to tap into the vast potential of data captured in space in order to push past the boundaries of the possible and find new sources of innovation," said Tom Lounibos, managing director, Accenture Ventures. "Although access to this data has traditionally been limited and costly, Open Cosmos removes these barriers with satellites that launch quickly and simply, providing fast access to data on climate changes, energy, resources, navigation and more."
"Today we stand at the edge of a paradigm shift, as numerous companies strive to democratize access to space and provide access to its valuable information," added Paul Thomas, Space Innovation Lead, Technology Innovation at Accenture. "Open Cosmos is dedicated to helping their customers solve problems using data and insights from space. Working together, we envisage a world where space technology and data are more accessible and can be more easily harnessed and interpreted to fuel innovation and drive sustainable progress."
Accenture's 2023 Technology Vision found that 85% of executives believe that advancements in science tech are accelerating innovation within their industry. From space industry expansion to breakthroughs in drug discovery, the feedback loop between science and technology is getting faster, with each accelerating the advancement of the other, in ways that will turbocharge scientific discovery.
"Open Cosmos is one of the fastest growing companies in the satellite sector," said Rafel Jorda Siquier, founder and CEO, Open Cosmos. "This investment and collaboration with Accenture will help us achieve our goal of simplifying access to space using smaller satellites and ensure that a greater number of organizations all over the world can benefit from the richness of satellite data to improve sustainability, logistics and other global and business challenges."
Open Cosmos is the latest company to join Accenture Ventures' Project Spotlight, an engagement and investment program that targets technology companies that can help fill strategic innovation gaps for the Global 2000. These companies co-innovate with Accenture, working with subject matter experts to adapt their solutions to the enterprise market and scale faster and more effectively. Through Project Spotlight, Accenture Ventures has recently invested in several additional satellite data and image companies, including Pixxel, Planet, and SpiderOak.
Artificial Intelligence Summary
Defense Industry Analyst (9/10): This article is highly relevant to the defense industry, as it outlines the investment and collaboration between Accenture and Open Cosmos, a space technology company. This collaboration will have far-reaching implications for the defense industry, as the two companies will be working together to provide access to high-quality satellite data and insights on a global scale. This data can be used to provide faster access to data on climate changes, energy, resources, navigation and more, which can be used to help bolster the defense industry. Thus, this article is highly relevant to the defense industry. Stock Market Analyst (7/10): This article is somewhat relevant to the stock market, as it outlines an investment and collaboration between Accenture and Open Cosmos. This partnership could prove to be beneficial for both companies in the future, as they will be working together to provide access to high-quality satellite data and insights on a global scale. This data can be used to provide faster access to data on climate changes, energy, resources, navigation and more, which could lead to more efficient operations and increased revenue. As such, the article is relevant to the stock market, but not as much as it is to the defense industry. General Industry Analyst (8/10): This article is highly relevant to the general industry, as it outlines the partnership between Accenture and Open Cosmos to provide access to high-quality satellite data and insights on a global scale. This data can be used to provide faster access to data on climate changes, energy, resources, navigation and more, which can be used to help bolster the general industry. Thus, this article is highly relevant to the general industry. Analyst Summary: Accenture and Open Cosmos have announced an investment and collaboration that will provide access to high-quality satellite data and insights on a global scale. This data can be used to provide faster access to data on climate changes, energy, resources, navigation and more, which can be used to help bolster the defense, stock market, and general industry. This collaboration has far-reaching implications for all three sectors, as they will all benefit from the access to this data. This article is highly relevant to all three sectors, particularly the defense industry. When compared to significant events and trends in the space and defense industry over the past 25 years, this collaboration is in line with the trend of increased access to data from space, which has been beneficial for the industry. As such, further investigation is needed to understand the implications of this article. Questions that analysts might pose include: 1. What are the specific benefits that the defense, stock market, and general industries can expect to gain from this collaboration? 2. How will the data from this collaboration be used to solve business challenges on Earth? 3. What are the implications of the Open Cosmos proprietary platform technology for other companies in the space and defense industry? 4. What safety and security measures are in place to ensure that data collected by satellites is secure? 5. What are the potential risks associated with this collaboration and how can they be mitigated?
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