ISRO to support MSMEs and start-ups in space sector via SEED
Indian Space Research Organisation (ISRO) is working with the Department of Space (DoS) to form Space Enterprise Encouragement and Development (SEED) that will support start-ups and MSMEs in innovation, research and product development.
This announcement was made by Dr. K Sivan, Secretary DoS and Chairman ISRO while he was speaking at an International Space conference on ‘Ushering the new era in Indian Space Sector,” The Conference was organized by the Confederation of Indian Industry (CII) in association with the Indian Space Research Organisation (ISRO), Antrix Corporation Limited and supported by NewSpace India Limited (NSIL).
Dr. Sivan said that it was a competitive and early-stage opportunity for MSME and start-ups to develop products for ISRO, where ISRO would also offer spin-offs in return.
This announcement comes just after a month when the formulation of a new vertical, In-Space, was announced that will enable end-to-end private participation in India’s space programme.
Speaking at the conference Sivan also announced the formation of a new launch vehicle policy. “Entire gamut of activities is to be covered by policies and we are going to add Launch vehicle policy, space exploration policy etc. Existing space policies on Satcom and remote sensing data policy are also being amended for greater inclusivity and transparency. The new policies would pave way for insurance sector to render services in space domain, where insurance is an absolute necessity for satellites and launch services,” said Dr Sivan
The new policies that are said to be in the works are crucial for the real foray of private players into all domains of the Space sector in India. Currently, various domain experts and entrepreneurs feel that the policies in India need to be revamped to provide much more clarity and business-friendliness to attain its potential.