Not that the article has anything to do with economic diversification, but RE:

"Everybody and their dog is already into space and satellites and stuff like that."

Maybe you're the guy who told Steve Jobs, "Everybody and their dog is already into cell phones and stuff like that."

Or perhaps you're the guy who told Elon Musk, "Everybody and their dog is already into cars and stuff like that."

It's an impressive project for an undergraduate team. Kudos to them.