ISRO treasure trove of testing facilities and data will now be open to startups and private players
Finance Ministersaid the government will level the playing field for private companies in satellites, launches and space-based services
- This will be a big boost for the likes of
Kawa Space, Bellatrix, Dhruva Space, and Team Indus.
- According to DataLabs by Inc42, there are about 120 active startups working in the space sector right now.
“A lot of startups and individuals have spent time developing space-related technologies. Unfortunately because of Indian regulations, they have been unable to use ISRO’s available facilities for even testing their products,” she said.
The big boost for startups
According to DataLabs by Inc42, there are about 120 active startups working in the space sector right now. And, most of them emerged in or after 2014. As of 2019, their cumulative funding stood at $6.2 million.
This includes some big names like Bellatrix, Dhruva Space, and Team Indus. Other’s like Kawa Space is even providing space-as-a-service — a change in real estate models from asset ownership to monetisation of access and services that include physical space.
Reforms announced include levelling the playing field for private companies in satellites, launches and space-based services by introducing predictable policy and regulator environment to private players. “We want them to co-travellers with us, which is why the private sector is being encouraged,” Sitharaman explained.
Private sector players will now be allowed to use ISRO facilities and other relevant assets to improve their capacities. In addition, future projects for planetary exploration, outer space travel will be open to the private sector.
ISRO treasure trove of data
Startups will also now have access to the treasure trove of data with ISRO as geospatial data policies become liberalised to provide remote-sensing data to tech-entrepreneurs.
“There’s a lot of geospatial data in India for Indians, particularly for startups looking to do irrigation work, drought-prone area development work, groundwater work — they don’t most often get the data within India. They get from abroad, paying through their nose for the good work that they do for India itself,” she said.
However, the government will only be doing so with a lot of caution balancing the sensitivity of the sector against the advantage that’s at stake for Indian startups who are also doing pioneering work.
Now, fourth tranche of Nirmala Sitharaman's stimulus plan as India preps for lockdown 4.0
Hindalco, JSPL, Adani, Coal India, and many more stocks that can benefit from India’s sweeping reforms in coal and mineral sector
Popular on BI
- Ukraine's drones are becoming increasingly ineffective as Russia ramps up its electronic warfare and air defenses
- 'Die-hard' Nintendo fan spent over $40,000 buying stock and then asked top executives why the company won't make more of a fan-favorite series
- Mark Zuckerberg told Meta staff he's upping performance goals to get rid of employees who 'shouldn't be here,' report says
- It’s not the CM seat but the one who wields ‘bow and arrow’ will be the Sena head
- SIMPLY PUT: extreme weather is the new normal in India
- Antonia Wade, PwC's global CMO, tells Insider how B2B spending changes in tough economic times
- Ban on single-use plastic kicks in across India as the country recognises the choking impacts of plastic waste on the environment
- Bank FDs will draw down from mutual funds if interest rates go up to 7.5-8%, says report