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A seed financing programme was introduced by the Department of Space's nodal body, the Indian National Space Promotion and Authorization Centre (IN-SPACe), to assist businesses exploiting space technology for disaster relief and urban development.
In cooperation with the National Remote Sensing Centre (NRSC), the initiative has been started. For non-governmental entities (NGEs) who use space technology for societal advantages, the Indian Space Research Organisation (ISRO) will offer possibilities to "graduate to the next level", as reported by ETTelecom.
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“The Seed Fund Scheme is a part of IN-SPACe's efforts to provide a special thrust to enhance the space activity capabilities of the nation with the active participation of the start-ups. This scheme is designed to support Indian space start-ups that aim to develop innovative space products and services, thereby improving the quality of life for people and communities in India and around the world,” said Pawan Goenka, Chairman, of IN-SPACe.
An official release states that December 20, 2023, is the deadline for applications to the programme.
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Under the scheme, a number of start-ups will be given seed money to turn an idea into a working prototype using space technology. They will also receive support from ISRO, including Earth Observation (EO) data for concept validation, mentorship, and access to data algorithms as a technology transfer from DoS.
About IN-SPACe
The Indian National Space Promotion and Authorization Centre, or IN-SPACe, is a single-window independent government organisation with its own staff that will supervise, approve, and promote non-governmental private entities' (NGPEs') space-based operations.
The private space sector in the areas of launch vehicles, satellites, ground stations, space technology, space consulting, and space-based services will be made possible by IN-SPACe.
