Page 3 - Space Startup

Algo Rhythm: Space technology startups soar high, says Tracxn report

In 2024, space tech startups have raised $10.8 million yet

Union Budget 2024: R&D, spacetech fund gives deeptech startups a boost

The govt is working on National Deep Tech Start-up Policy as part of its efforts to spur innovation in India's deeptech sector. The policy attempts to address the vital barriers facing the industry

Budget 2024 sets up Rs 1,000 cr venture capital fund for space economy

Industry welcomes proposal to expand space economy five-fold in 10 years through private sector participation

Space industry demands tax exemptions, PLI scheme from Union Budget

Import holidays, GST exemption for components of launch vehicles, productivity-linked incentives (PLI) and government stepping in as a customer are some of the expectations of the private space sector from Finance Minister Nirmala Sitharaman as she presents the Union Budget next week. "More money for space related acquisitions, tax holidays, import holidays, and PLI scheme for space," Pixxel Space co-founder and CEO Awais Ahmed told PTI when asked about his wishlist for the budget. Industry bodies Indian Space Association (ISpA) and Satcom Industry Association (SIA-India) have sought greater government expenditure on the space sector in the form of an anchor customer for the nascent private sector. "ISpA calls for a commitment from the government to procure and adopt space technology solutions across various governance areas such as agriculture, disaster management, infrastructure planning and development monitoring, urban development, and remote area connectivity," ISpA director .

Indian firm aims to launch 'space habitat' by 2027, in talks with SpaceX

Bengaluru-based AkashaLabdhi is designing a space habitat solution to accommodate six to 16 personnel, which it plans to launch by 2027

Union Budget 2024: What's ahead for India's space sector development?

The allocation for space department saw a modest 4 per cent increase, from Rs 12,545 crore to Rs 13,043 crore in the Interim Union Budget 2024

India's goal is to have $44 bn space economy by 2033: IN-SPACe chief

Space sector is expected to get $25 bn in investments in 10 years, says Pawan Goenka, chairman of the commercial arm of Isro

Space startup AgniKul rockets into history books with Agnibaan liftoff

Agnibaan SOrTeD uses the world's first single-piece 3D printed engine, designed and built indigenously

Space startup Agnikul calls off maiden rocket launch for fourth time

Launches of India's second privately built rocket, and first using a combination of gas and liquid fuel, had been aborted three times before because of technical issues

FDI easing in space sector to lure foreign players, boost high-tech jobs

The government's decision to ease foreign direct investment (FDI) in the space sector will help attract foreign players as well as startups and will boost demand for high-tech jobs, experts say. The government has eased FDI norms in the sector by allowing 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment. The provisions were notified last month. Sreeram Ananthasayanam, Partner, Deloitte India, said that the recent amendment of higher FDI limits in the space sector is a significant step towards transforming India's space program, in terms of infrastructure development. "For the private sector, it opens doors to new business opportunities, it presents an opportunity to leverage private investments to enhance space capabilities, access to cutting-edge technologies to accelerate and develop next-gen space products, and collaboration with global players," Ananthasayanam said. For t

GE Aerospace to invest Rs 240 cr to upgrade Pune manufacturing facility

GE Aerospace on Thursday announced its plans to invest over Rs 240 crore (around USD 30 million) to upgrade its manufacturing facility in Pune. The investment will be used to add new projects and manufacturing processes in the facility by acquiring machines/equipment and specialised tools along with capacity enhancement of existing products, the company said in a statement. Inaugurated in 2015, the Pune facility produces components for commercial jet engines. "This investment helps us to continue our growth in aerospace in India, giving us the resources we need to meet increasing customers' demand," said Amol Nagar, managing director for GE Aerospace's Pune facility. The components produced at the plant are supplied to GE's global factories where they are used to assemble G90, GEnx, GE 9X commercial jet engines, and the LEAP engines by CFM, which is a GE and Safran joint venture, according to the statement. The facility has been instrumental in developing local aerospace manufactu

Modi govt trying to boost space startups in bid to close gap with China

"Everything will be defined: What can be done, what restrictions there will be, authorization processes, vendor policy, supply chain management and other factors," Goenka said in an interview

TMS Ep639: FM-fintech meet, house rent, space-related stocks, Munich accord

Will FM-fintech meet pave the road to sustainable innovation? Why is your house rent rising? Should you bet on space-related stocks? What is the Munich AI accord? All answers here

Private participation

The space sector has opportunities for India

TMS Ep638: Paint industry, FDI in space sector, markets, Bitcoin halving

What's attracting big players to paint industry? Can liberalised FDI make India a space superpower? Will Bitcoin extend its rally post the halving event? How does Bitcoin halving work? Answers here

'Time, countdown, rocket hamara hai', says PM Modi on Gaganyaan mission

The Gaganyaan mission aims to launch a crew into space to orbit 400 km from the Earth for a three-day mission

Space industry says easing of FDI norms will pave way for innovation

India's nascent private space industry on Thursday welcomed the easing of FDI policy for the sector, terming it as a "pivotal move" to boost investments and help the country increase its share in the global space economy. "The easing of FDI norms will have a similar impact on the space sector as the 1991 liberalisation policy had on the overall economy," Tushar Jadhav, co-founder and Chief Executive Officer Manastu Space told PTI. Industry leaders said the government decision to permit 100 per cent overseas investment in making components for satellites and up to 49 per cent FDI through the automatic route for launch vehicles and associated systems or subsystems, creation of spaceports for launching and receiving spacecraft has given the much needed clarity for the sector. Several industry leaders cited examples of how foreign investors were hesitant to invest in the space sector through the government route, which was the case earlier, due to a series of approvals that were require

Private sector space players seek govt relief on FDI and GST exemption

Data from the Indian Space Association (ISPA) reveals that, as of November-end 2023, Indian start-ups had attracted $124 million in funding, compared to $120 million in 2022

India's research riddle

It has the highest public sector budget for research in the world as a share of GDP, but the private sector lags way behind

Skyroot unveils Vikram-1 rocket, set to launch satellites early next year

Space start-up Skyroot Aerospace on Tuesday unveiled its indigenously built Vikram-1 rocket which is expected to deliver satellites to low earth orbit early next year. Science and Technology Minister Jitendra Singh also inaugurated 'The MAX-Q Campus', the new headquarters of the start-up at the GMR Aerospace and Industrial Park at Mamidipally in South Hyderabad. Singh toured the Skyroot headquarters spread across 60,000 sq ft and billed as the country's largest private rocket development facility under one roof. Vikram-1 is a multi-stage launch vehicle with a capacity to place around 300 kg payloads in Low Earth Orbit. It is an all-carbon-fibre-bodied rocket that can place multiple satellites into orbit and features 3D-printed liquid engines. Planned to be launched in early 2024, Vikram-I will be Skyroot's second rocket, after the successful launch of the Vikram-S rocket on November 18 last year. Skyroot's new headquarters houses integrated design, manufacturing and testing facili