Despite the potential, India’s share of the global $400 billion space market is less than 0.01%. How can we accelerate the growth of a much-needed space start-up ecosystem?
India needs to start building the blocks of a strong space startup ecosystem that can drive the development of a modern space-based economy. Credit: Reuters/Representative image
Believe it or not, today, there are over a thousand startups focusing on space around the world. Yet we only see a handful of startups emerge out of India even though we live in one of the only emerging global powers that has the ability to build, launch, operate and use satellites and rockets. With a network of possibly 500 small-and medium-scale enterprises (SMEs) supporting India’s space activities, the country’s share of these space startups is less than 1%.
The most notable startups in India today include TeamIndus (aiming to land a rover on the Moon as part of the Google Lunar XPrize), Astrome Technologies (developing satellite-based broadband) and Bellatrix Aerospace (developing thrusters with a vision to eventually develop their own launch vehicle). Apart from these, there are ventures that are using space data – such as SatSure – or developing services around education – such ...