STATE TIMES NEWS
NEW DELHI: In reply to a question in the Lok Sabha on Wednesday, Union Minister, Dr Jitendra Singh informed that Indian Space Research Organisation (ISRO) is offering financial grant to certain selected StartUps in the Space sector.
Pertinent to mention that within just over two years of the “unlocking” of the Space sector on the intervention of Prime Minister Narendra Modi, more and more number of private participants are coming forward with proposals related to various aspects of Space technology and research.
Significantly, within a short time, several StartUps have already registered with ISRO for various Space related projects. Some of these projects also deal with upcoming futuristic areas like Space debris.
Specifically responding to the question, the Minister informed that six Startups were selected and supported by ISRO with a grant-in-aid of maximum of Rs 50 lakhs each in areas like geo spatial information, propulsion and Robotics/ AR/VR.
The reply by Dr Jitendra further states that ISRO, along with Atal Innovation Mission (AIM), NITI Aayog, launched ANIC-ARISE-1.0 program that aims to seek, select, support and nurture technology-based innovations that solve sectoral challenges of national importance.
The Minister said that 24 StartUps submitted their proposals, out of which six StartUps were selected and supported with a grant-in-aid of maximum of Rs 50 lakhs each.
While in the last eight years, the number of StartUps in India has gone up from around 350 to over 70,000. The StartUps in the Space sector is a new phenomena which started after the government headed by Prime Minister Narendra Modi opened the public private participation.
