Not all the companies vying to cash in on the civilian space race are the pet projects of software billionaires and Internet tycoons. Smaller guys have the plans in the works as well. One, XCOR Aerospace, is dependent on an angel investor -- a backer who can't put up as much cash as a venture capital firm, but who doesn't mind stepping up for the kind of risk spaceflight entails.

Just a few years ago, the idea of bankrolling starry-eyed ventures to fly ordinary people into space was laughed off as science fiction. Now some investors are betting on space tourism as the next big thing.

The infant industry got a boost in June when a Boston-area investment group backed a private rocket company developing a spaceship that will take off and land like an airplane.

The deal between Boston Harbor Angels and XCOR Aerospace, believed to be the first investment by a group of angel investors in a commercial launch company, raised hopes that others will follow.

"This industry is going to explode or fizzle," said John Hallal of the Boston group. "If it's successful, people will look back and say, 'These Boston Harbor investors are smart guys.' If not, it's not the end of the world."

The Herald Angels Spend

Angels invested about $26 billion overall last year -- an 11 percent jump from 2005 -- with most of the money going to health care and medical device companies, according to the Center for Venture Research at the University of New Hampshire.

About 51,000 businesses received angel funding last year, a 3 percent increase from 2005, the center found. There are no reliable data on how much of these investments are related to space tourism.

Recognizing the importance for early stage investment, a group of entrepreneurs in May had a soft launch of Space Angels Network, an online community aimed at connecting investors with business leaders.

Space executives post pitches online that can be viewed by potential investors. The Web site doesn't get any commission from deals. About a dozen members have signed up so far and no deals have been made yet. A formal launch is scheduled this fall.

"We want this to be a one-stop shop for early space ventures," said Guillermo Sohnlein, chairman of the International Association of Space Entrepreneurs and one of the site's founders.

'Childhood Dream'

Rocket entrepreneur Jim Benson, who is among the newest entrants in the space race, courts investors himself by touting his experience.

Last year, Benson stepped down from SpaceDev, a rocket company he founded with money he made in the software industry, to form Benson Space to compete with the big guys.

The company has attracted about a dozen angels.

"You're looking for people who share the childhood dream of going to space and who are in the position of providing financial support," he said.