Satellite's launch marks milestone

An industry insider with knowledge of the program who wished not to be identified said the overall cost of the satellite's development and launch would be less than 10 million yuan ($1.6 million). 

He said that if a businessperson wishes to invest in a satellite program, the small camera or video satellite is the best option because, compared with other satellite models, it is more easily and cheaply designed and made and can attract more users from the public, which means it offers better profitability. 

The insider also said startups like LinkSpace will be major developers of such satellites, since State-owned space institutes are too busy on government-assigned contracts to receive orders from private companies or individuals. 

Pang Zhihao, a researcher at the China Academy of Space Technology, said it is not overly complex for an individual to sponsor or fund a spacecraft because there are specific, clear policies and reliable contractors in the market, although whether the investment will pay off depends on market demand.