The 21-month intensive programme will provide comprehensive support to aspiring space entrepreneurs, guiding them through the key stages of ideation, innovation and prototype development
Participants will have access to mentorship from experts across academia, research institutions, incubators and the space industry
IN-SPACe is an autonomous nodal agency under the department of space.
The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has rolled out pre incubation entrepreneurship (PIE) development programme to support and nurture early stage startups in the space sector.
IN-SPACe is an autonomous nodal agency under the department of space.
The 21-month intensive programme will provide comprehensive support to aspiring space entrepreneurs, guiding them through the key stages of ideation, innovation and prototype development, IN-SPACe said in a statement.
Participants will have access to mentorship from experts across academia, research institutions, incubators and the space industry.
“India’s space sector is poised for exponential growth, and young entrepreneurs are crucial to driving this expansion. The PIE program will provide them with a launchpad, equipping them not only with technical expertise but also with the business acumen needed to navigate the complexities of the space industry,” said Pawan Goenka, chairman of IN-SPACe.
The programme will help young entrepreneurs transform their innovative ideas into prototypes by fostering a collaborative learning environment giving participants an opportunity to connect with and learn from seasoned mentors, handpicked from leading research institutions, incubators, academia, and prominent space industry players, the statement added.
As per guidelines of the programme, applicants must be Indian citizens graduating in 2024 or already graduates, they should not have received any grants, funding, or monetary support from private or government schemes and all submissions must be original work to qualify for this programme.
At the heart of all this is the Indian Space Policy which was unveiled last year. The new policy aims to establish a framework for integrating the private sector into the space industry and bring reforms to boost their participation in the industry.
The policy also aims to foster collaboration between researchers, academicians, startups and the industry. The new policy also delineates the roles and responsibilities of organisations like (ISRO) and other private entities.
The latest development comes four months after the Indian government liberalised the FDI regime for the sector, allowing up to 100% FDI via the automatic route for certain sub-segments in the space sector.
Over the past decade, India has seen an unprecedented boom of spacetech startups, ushering in fresh perspectives, tech innovation and a competitive edge.
The spacetech startups are navigating the next frontier with support and collaboration from the government and the private sector.
In July last year, the GST Council set the launchpad for spacetech startups with a 0% GST regime. The buzz in this burgeoning sector has been such that last year alone as many as 100 spacetech startups got registered with the Indian Space Research Organisation (ISRO).
Of the major spacetech startups in India include Agnikul, Digantara, Bellatrix, Pixxel and Skyroot among others.
For instance, in February this year, spacetech startup Digantara marked the final close of its Series A1 funding round at $12 Mn (around INR 99 Cr).
Just last month, spacetech startup Agnikul Cosmos completed the first flight or Mission 01 of its homegrown rocket Agnibaan SOrTeD. The launch took place from the company’s private launchpad, located within the SDSC-SHAR at Sriharikota.
As per Inc42’s Indian Spacetech Startup Landscape & Market Opportunity Report 2023, over 150 startups have collectively raised more than $285 Mn. Moreover, the sector is estimated to reach a market size of $77 Bn by 2030.
