Space 2.0: India enters era of research, private investment to boost space tech innovation
Also Read: Aditya-L1 mission: India's solar mission to meet insertion point on January 6, says ISRO. All you need to know Speaking about the sector, Suyash Singh, Co-Founder & CEO, GalaxEye said that the access to capital at the growth level is still very difficult for the players. “Unlike the deep tech ecosystem at large, space tech has its own gestation period.
The first prototype will only come when you have an asset in space. That makes attracting funding difficult in the beginning," said Singh. He informed that GalaxEye was a 2.5 year old space tech startup building next generation earth observatory satellites.
Talking about the country's space research Chaitanya Giri of Flame University said, ‘’We have entered a new era of space research called Space 2.0. Previously, it was big companies assisting ISRO with its designs. However, in this new era, innovation is emerging from the private sector," remarked Giri.
Arjun Rao of Speciale Invest reiterated his optimism about the space tech sector, citing five investments made by his company and anticipating significant market growth in the next decade. “We chose to invest in space tech because of India’s evident heritage in ISRO. India has been involved in space technology for many decades, giving us confidence in our capabilities," Rao said.
Being a huge capital intensive sector, Rao said that the foreign direct investment (FDI) in the sector will be helpful which will also encourage local capital amid rising competition. He believes the local investors will have an early mover advantage as we may see customer base increasing after initial successful launches. Read here: Gaganyaan Mission: PM Modi announces names of four astronauts, bestows astronaut wings Chaitanya Giri
. Read more on livemint.com
