The number of registered Space Start-ups have gone up from just 1 in 2014 to more than 400 as on date.After announcement of Startup India Initiative in 2016, with a goal of fostering innovation and building a robust startup ecosystem in the country by providing support, funding and easier regulatory frameworks, there is a magnificent growth in startups related to space domain also. Prominent space startups grown in the country after 2014 are M/s. Pixxel, M/s. Dhruva, M/s. Skyroot Aerospace, M/s. Agnikul Cosmos, M/s. Bellatrix Aerospace etc.
Year wise details of the schemes, policies and institutional frameworks implemented by the Governmentto encourage and provide support to space start-ups is as under:
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Sl. No.
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Scheme /policy
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Year
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1.
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Indian Space Policy
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2023
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2.
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Liberated FDI Policy
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2024
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3.
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Norms, Guidelines and Procedures for Authorization
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2024
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4.
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IN-SPACe Seed Fund Scheme
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2023
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5.
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IN-SPACe Pre-incubation Entrepreneurship (PIE) Program
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2024
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6.
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Establishment of Rs.1000 Cr Venture Capital Fund
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2024
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7.
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Establishment of Rs. 500 Crores Technology Adoption Fund (TAF)
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2025
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8.
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Technology Transfer of Small Satellite Launch Vehicle (SSLV) to HAL
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2025
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9.
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Establishment of Earth Observation (EO) satellite constellation on PPP model
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2026
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The Government is committed towards the self-reliance in the all the domain of Space Technology, i.e., Up, Down and Mid-stream.
The achievements attained are clearly evident, with a significant increase in private sector participation in space domain. However, following are the major achievements attained so far:
- The number of space start-ups reached to more than 400.
- The investment in space start-ups crossed more than USD 500 million.
- Two private sector companies tested and flown their launch vehicles at sub orbital orbit in November 2022 and May 2024.
- A total of 25 payloads flown/going to fly on PSLV Orbital Experimental Module (POEM) which helps NGE’s test and prove the space flightworthiness of their payloads.
- A total of 6 Indian Non-Governmental Entities (NGEs) has launched 18 satellites in orbit.
- Awarding of the establishment of Earth Observation (EO) satellite constellation on PPP model, will spur innovation and improve global confidence of our Indian space tech companies.
- Higher throughput of launch vehicles with the technology transfer of SSLV
- 25 number of companies already testing their satellites /subsystems in the real environment of space by taking advantage of platforms like POEM
- State government seeing space as a sunrise sector and making proactive policies to encourage companies in this domain through incentive schemes.
- Indian space companies slowly beginning to embed in global aerospace and space supply chains.
This information was given by the Minister of State for Personnel, Public Grievances & Pensions and Prime Minister’s Office Dr. Jitendra Singh in a written reply in the Lok Sabha today.
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NKR/NM