a reference question

[Freeguy]

Another space application that began under government sponsorship but quickly moved into the private sector is the relay of voice, video, and data via orbiting satellites. Satellite telecommunications has developed into a multibillion-dollar business and is the one clearly successful area of commercial space activity. A related, but economically much smaller, commercial space business is the provision of launches for private and government satellites. In 2004 a privately financed venture sent a piloted spacecraft, SpaceShipOne, to the lower edge of space for three brief suborbital flights. Although it was technically a much less challenging achievement than carrying humans into orbit, its success was seen as an important step toward opening up space to commercial travel and eventually to tourism.

What does "its" refer to?

1. a privately financed venture
2. a piloted spacecraft called SpaceShipOne



Source: Iran's national university entrance exams

 

[Charlie Bernstein]

It's not very clear, is it?

It's easier to think of a venture as being successful or unsuccessful. So, strictly speaking, I think it refers to the venture. But for practical purposes, it hardly matters.

Let's see what others say.

 

[Freeguy]

Exactly. Apart from the fact that "successful spacecraft" is uncommon, I have another reason, too. To me, "it" refers to "sending the spacecraft". At least, this concept sounds more natural to me, because it is compared with "carrying humans into orbit". So it would be textually incohesive for "it" to refer to the sending of the spacecraft and for "its" to refer to the spacecraft.

 

[jutfrank]

It's the whole mission that was successful.