News Brief
From One In 2014 To 189 In 2023: Number Of Indian Space Startups Surges In Past Nine Years
Representative image of an ISRO space launch
In a significant development for India's burgeoning space sector, the number of space start-ups has witnessed an extraordinary surge, growing from one in 2014 to an impressive 189 by 2023.
This information was revealed by Union Minister Jitendra Singh in a written reply in the Rajya Sabha.
Singh, who holds the portfolio of Union Minister of State (Independent Charge) for Science & Technology and MoS in the Prime Minister's Office, Personnel, Public Grievances, Pensions, Atomic Energy, and Space, highlighted this growth as a testament to India's evolving space industry.
Accompanying this rise in the number of start-ups is a substantial increase in investment, which has reached $124.7 million.
Singh said the government has announced the Indian Space Policy 2023, which enables end-to-end participation of Non-Governmental Entities (NGEs) in all domain of Space activities.
The space policy enabled Non-Governmental Entities (NGEs) to participate comprehensively in all domains of space activities.
The minister outlined several significant impacts and developments resulting from these reforms and incentives in the space sector.
Notably, some NGEs have launched their satellites, contributing to vital areas such as agriculture, disaster management, and environmental monitoring.
Additionally, the establishment of a private launchpad and Mission Control Center within the ISRO campus marks a historic first for an NGE, with a sub-orbital launch planned shortly.
The private sector's role is expanding beyond satellite launches.
Companies are delving into satellite-based communication solutions and are increasingly involved in space-based applications and services.
The trend extends to satellite integration, testing facilities, and the local manufacturing of satellite subsystems and ground systems, all increasingly undertaken by private entities.
Furthermore, Indian private space companies are forging collaborations and partnerships with international space organizations and companies, signaling a global footprint.
This remarkable growth in the private sector's involvement in the space industry is expected to lead to independent end-to-end solutions in satellite manufacturing, launch vehicle production, satellite services, and ground system manufacturing.
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