Department of Space

The number of Space Start-Ups have gone up from just 1 in 2014 to 189 in 2023, says Union Minister Dr Jitendra Singh


Investment in Indian Space Start-Ups has increased to $ 124.7 Million: Dr Jitendra Singh

Posted On: 14 DEC 2023 6:25PM by PIB Delhi

The number of Space Start-Ups have gone up from just 1 in 2014 to 189 in 2023 as per DPIIT Start-Up India Portal, Union Minister Dr Jitendra Singh said today. The investment in Indian Space Start-Ups has increased to $ 124.7 Million, he said.

The Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, said this in a written reply in the Rajya Sabha.

Dr Jitendra 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. He said, due to incentives and reform in the Space sector, the other major developments and impact are as follows:

    • Some NGEs launched their own satellites. Many other Space Industries and Start-Ups are also building their own Satellites & constellations. These satellites shall contribute to applications in Agriculture, Disaster Management, Environmental Monitoring, etc.
    • One NGE launched their sub-orbital launch vehicle.
    • A private launchpad and Mission Control Center established within the ISRO campus for the first time by an NGE. Sub-orbital launch by that NGE is scheduled shortly.
    • Private companies are exploring satellite-based communication solutions. Private players are increasingly participating in space-based applications and services.
    • Satellite integration and testing facilities are coming up in private sector.
    • The local manufacturing of the satellite subsystems and Ground systems are being taken up by private sector.
    • Indian private space companies are increasingly entering into collaborations and partnerships with international space organizations and companies.

 

It is expected that private sector will take up independently end-to-end solution in satellite manufacturing, launch vehicle manufacturing, provide satellite services, and manufacture ground systems. A true force multiplier.

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