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 in a written reply in the Rajya Sabha. The investment in Indian space start-ups has increased to $ 124.7 Million, he said.
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.