Space should be affordable for many, not just a few with Raycho Raychev from EnduroSat

The Recursive podcast’s next stop is Sofia where we meet an entrepreneur who has always believed in the idea that space is closer than we think. Raycho Raychev is the co-founder of one of the fastest growing space tech companies in Europe – EnduroSat. 

EnduroSat builds nanosatellites and it offers shared satellite missions that give nations, companies, and even universities access to space. 

Raycho Raychev has also created a leadership and space education program in Bulgaria called “Space Challenges”. It was there where he found his partners on the journey to build a spacecraft that democratizes access to space. 

“When I say space is closer than you think, this is the kind of mentality that we have in the company and in the educational program that should lead us to a future where space is affordable for many, and not just a few”, Raycho Raychev tells the podcast host Georgi Nenov. 

While he explains the complexities of building a deep tech company, Raychev also shares his vision that spacecraft will inevitably become a commodity technology. “In a nutshell, the satellite is like a transport vehicle. There’s no reason why the satellites should remain very complex and tailor-made systems. It’s like building a Rolls-Royce. It’s nice, but not everyone can afford Rolls-Royce as a car”, he explains. 

In this episode Raycho Raychev also takes us throughout his entrepreneurial journey with EnduroSat, sharing his learnings from fundraising, managing people, and building a self-sustainable business.

He talks about how he moved on after a cold shower of over 40 NOs from investors to eventually finding the right partners to scale his company. 

For Raycho Raychev being entrepreneurial is a mindset rather than occupation. “You can be entrepreneurial in any environment in any way possible, as long as you have the capabilities to impact others in a positive way”, he says. 

According to Raychev in the startup world the real impact of a business sometimes is confused with the hype around its valuation. “I believe that a lot of startups got confused that overpromising is more important than you objectively drawing the line and seeing through your efforts, through the product or the service that you have created, are you improving life and the world around you”, he says. 

Watch the previous episode where we explore the future of transportation with the general manager at Via Engineering Bulgaria Boris Simandoff.

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