A 'world first' will take place at the International Business School on Saturday (October 4).
The International Institute of Space Commerce, or IISC, will be offically opened.
The project is a joint one between the International Space University based in Strasbourg and the Isle of Man government.
The Institute is the first of three planned around the world, with the other two covering Space Law and Space Tourism.
Representatives of the international space community will be coming to the Island for the opening, including the first South Korean and second ever Asian woman to go into space, Dr Soyeon Yi.
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