The think-tank activity has been established and is intended to provide an added value to the services offered locally.

In 2008, IISC was established as a non-profit organization with offices in Douglas, at the Isle of Man International Business School (IBS).

Formal inauguration of IISC took place in Douglas on 4 October 2008, in the presence of Dr. Soyeon Yi, the first astronaut of Korea, NASA space veteran George Abbey, and local authorities.

After selection of senior fellows, a first series of studies and workshops were organized and based upon the growing reputation in the field of commercial space IISC was accepted as member of the International Astronautical Federation (IAF) in October 2011.

Indeed, the availability of this website allowed for publication of papers and ideas in the field of space commercialization within short delays.