SUMMARY
From a couple of startups in the spactech domain four years back, the ecosystem has seen the emergence of 102 startups currently: MoS Jitendra Singh
Safe to say that a space revolution led by ISRO, along with the private sector and startups, is on the horizon: Singh
The ‘strength and innovative potential’ of Indian startups and enterprises will enable them to take a lead in disrupting the global space technology domain: MoS
Indian startups are poised to soon launch their own satellites and satellite constellations, and test their own rockets, Minister of State for Space and Atomic Energy Jitendra Singh said on Monday (October 10).
Singh also said that the reforms in the space industry have unleashed the innovative potential of startups. From a couple of startups in the spactech domain four years back, the ecosystem has seen the emergence of 102 startups across areas such as space debris management, nano satellite, launch vehicle, ground systems, research, among others, he added.
“With the integration of R&D (research and development), academia and industry with equal stake, it is safe to say that a space revolution led by ISRO along with the private sector and startups is on the horizon,” said Singh.
He also said that the ‘strength and innovative potential’ of Indian startups and enterprises will enable them to take a lead in disrupting the global space technology domain in the times to come.
Lauding the Centre’s space reforms, he said that the Indian government is taking strong steps towards self-reliance in the space sector. He said that these measures are being taken to ensure that the country’s private industrial capability and capacity are effectively channelised to develop cutting-edge solutions
He also called on the entrepreneurs to address opportunities in the spacetech industry, adding that he is hopeful that India’s ‘young technology wizards’ will breach new barriers in the field of space technology.
The MoS made the comments while speaking at the India Space Conclave organised to commemorate the first year anniversary of the Indian Space Association (ISpA) in Delhi,
He also said that as many as five Polar Satellite Launch Vehicles (PSLVs) are being domestically produced by construction conglomerate L&T and Hindustan Aeronautics Limited (HAL).
Singh said that spacetech startup OneWeb is all set to launch its satellites through Indian Space Research Organisation (ISRO) and New Space India Limited (NSIL).
This comes weeks after ISRO chief S Somanath also echoed a similar sentiment, saying that the world is looking at India as an ‘inspirational place’ in the spacetech sector.
In the recent past, the government has undertaken a slew of reforms and has also set up a clutch of institutions such as NSIL and ISpA to open up the industry to private players. As a result, the country has seen the emergence of a bunch of spacetech startups such as Agnikul, Skyroot and Pixxel.
From Skyroot raising a record high funding of $51 Mn funding in August to Pixxel raising $25 Mn from a host of international investors, the Indian spacetech industry has emerged as a big attraction for investors amidst the ongoing funding winter.
According to an Inc42 report, the Indian commercial spacetech market is expected to grow to $77 Bn by 2030.
