Since its inception in 1958, the National Aeronautics and Space Administration (NASA) has affected consumers everyday lives without many of us knowing. In fact, the National Aeronautics and Space Act of 1958 ensured this quiet influence by including the stipulation "that activities in space should be devoted to peaceful purposes for the benefit of all mankind."

Developments in space travel remain crucial to the technological advances we enjoy daily. Long-distance communications, solar energy, artificial limbs, memory foam and household smoke detectors all were first used in space. The smartphones we carry in our pockets are up to a million times more powerful than all of NASA's computers combined in 1969. Imagine what well hold in our hands20 years from now.

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All this advancement brings a different set of challenges. Among these: overheating. Its a critical operations problem for electronic devices because it can lead to poor performance and -- in some cases -- dangerous situations.

Samsungmade the unprecedented decision to recall all Galaxy 7 phones after 35 of them overheated. Some exploded, rupturing their cases. The number of overheating incidents reported quadrupled after Samsung announced the recall.

Another example focuses on the hoverboard, of the past few years most popular toys. The hoverboard also fell victim to the perils of overheating and posed a safety threat to consumers. Its since been recalled and is illegal to operate in many cities.

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KULR Technology is among the companies looking to leverage what it's learned in space and apply those lessons to innovations here on Earth. Michael Mo and Timothy Knowles cofounded KULR (pronounced cooler) in 2013. Their basic premise: solve the challenges to keep electronics cooler, lighter and safer in an ethical and environmentally sustainable manner.

KULRs technology traces its beginnings tothe high-performance aerospace industry. The San Diego-based firm has won more than 500 contracts with agencies and companies including NASA, Raytheon, Boeing and JPL. KULR also provided the carbon-fiber-based thermal-management solutions used in the International Space Station, Mars Rover and Mercury Messenger.

KULR and other groups will find a robust marketplace as they translate the knowledge gained from interstellar successes. Thermal management already is an $11 billion annual business,and the opportunities only will grow exponentially as technology develops.

Related:The Next Big Opportunity for Tech Entrepreneurs? 'Smart' Homes.

On a larger scale, the advances made during the past decade require tremendous computing power. Over the next 5, 10 and 15 years, these and other emerging technologies will change how we live.

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Over time, these technologies will increase in consumer base -- and consumers will focus more and more on performance. As a devices number of transistors multiplies, its computing power increases exponentially. In turn, its form factors shrink. But increased density of transistors on a chip has led to performance issues including overheating. That can cause slowed or even broken-down connections.

The cycle feeds the need for continued evolution. KULRs proprietary carbon-fiber-based architecture replaces older aluminum- and copper-based head spreaders and exchanges that were the standard for years. Unfortunately, those earlier particle-based thermal-interface materials are inefficient as well as energy-intensive and less environmentally friendly to produce. KULRs newer versions offer lower contact pressure and longer reliability, making devices higher-performing and higher-compliance.

KULR has given environmental impacts a large role in another part of its strategy, too. Corporations require increasing electricity to operate their facilities, and they spend staggering sums to keep their data centers cool. Technology that lowers the temperature from the inside reduces the amount of energy needed to cool these components from the outside in.

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Elena Titova is a serial entrepreneur and user experience expert based in New York City. Shehas been working in fintech, web and app development startups. Her areas of interest includeVirtual Reality, business strategy and creat...

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A Different Kind of Space Race: How Far-Out Tech Changes the Way You Live - Entrepreneur