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Seed Fund Scheme (SFS)


Why is it in the news?

  • Indian National Space Promotion and Authorization Centre (IN-SPACe), India’s space regulator, launches the Seed Fund Scheme (SFS) to support startups in collaboration with the National Remote Sensing Centre, ISRO.

More about the news

  • Focus areas include Urban Development and Disaster Management utilizing space technology.
  • Start-ups in urban development target areas like urban planning, telecom, navigation, broadband, water management, etc.
  • Disaster management offers opportunities for startups in Geographical Information System, early warning and monitoring systems, climate change monitoring, etc.
  • SFS provides financial assistance of up to 1 crore along with mentorship support, training, and networking opportunities.
  • Significance: Facilitate the development of new and innovative technologies in the space sector; and provide private players with opportunities to leverage space technology for societal benefits.

 

IN-SPACe

路聽聽聽聽聽聽 IN-SPACe is an independent nodal agency under the Department of Space.

路聽聽聽聽聽聽 Aims to stimulate private investment and innovation in the space industry.

路聽聽聽聽聽聽 Acts as an interface between ISRO and Non-Governmental Entities.

 

Other Initiatives for Private Sector Participation

路聽聽聽聽聽聽 SpaceTech Innovation Network (SpIN): Public-private collaboration for startups and SMEs in the space industry.

路聽聽聽聽聽聽 Indian Space Policy, 2023: Opens up the space-tech sector for enhanced private participation.

路聽聽聽聽聽聽 Indian Space Association (ISpA): An organization representing the Indian space industry.

 

Indian Space Startup Sector

路聽聽聽聽聽聽 Funding in the sector increased from Rs 28 million in 2020 to Rs 112 million in 2022.

路聽聽聽聽聽聽 Growth attributed to rising demand for cost-effective satellite manufacturing and reduced launch costs.

路聽聽聽聽聽聽 As of 2021, India is the sixth-largest player globally in the space-tech industry, hosting 3.6% of the world’s space-tech companies.

路聽聽聽聽聽聽 These initiatives collectively aim to boost innovation, investment, and participation from the private sector in India’s space industry.

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