In this episode of Decoding Innovation, Hemali Vyas from NASA Jet Propulsion Laboratory explores the space economy and shares the impact of systems thinking on future technologies. The space industry stands at the cusp of a new era, where the commercialization of space opens up a multitude of possibilities. Hemali Vyas, a seasoned professional from NASA Jet Propulsion Laboratory with experience in both the public and private sectors, casts light on three pivotal areas that will shape this frontier: the transformative potential of space commercialization, the critical role of systems thinking and the indispensable value of collaboration. Hemali also emphasizes the need for private players, including startups, to adopt a “blue ocean” strategy mindset to foster innovation and take advantage of the opportunities in the space economy. Key takeaways: Systems thinking enables a strategic approach to dissecting and addressing issues while proactively managing potential risks for improved outcomes. Effective collaboration aids diverse perspectives, fostering consensus to overcome intricate challenges with collective intelligence. Adapt to strategies that involve creating new markets and demand in an uncontested space. Differentiate from competitors and focus on innovation to avoid direct competition.