A combined initiative by ISC 2022, Microsoft and iDEX, ISRO is a right step in the direction of giving the thrust needed to empower space startups in India.
The event called iDEX 75 Space Challenges was organised by the Satcom Industry Association of India and was first announced by PM Narendra Modi.
In collaboration with Microsoft and iDEX, ISC 2022 has kickstarted the 3-day long event i.e., iDEX 75 Space Challenge. During the event, 15 startups will be shortlisted and could avail the benefits of Microsoft’s Founders Hub and that amounts up to $150,000 worth of free Azure credits.
Further, among the 15 shortlisted startups, on October 27, 2022 in an event called ‘Pitch Right for Skyrocketing Startups’, five startups will be finalized for pitching their ideas to a panel of industry experts and investors. These startups will be mentored by the senior professionals of leading space tech companies.
The India Space Congress 2022 is a combined effort by the Indian Space Research Organisation, Indian National Space Promotion and Authorisation Centre, NewSpace India Limited, Department of Telecom, Defence Ministry and the NITI Aayog.
Welcoming this initiative, Director General, SIA-India Anil Prakash said, “SIA-India welcomes these engagements to help start-ups to launch their ambition to the next orbit with sure chances of success. With iDEX and Microsoft onboard, we look forward to the beginning of a partnership that will reap benefits for the deep tech space start-ups. These alliances will work towards fostering, incubating and hand-holding promising startups.”
ISC 2022 will engage all the partners through discussing business models, open dialogue and challenges and learning from other countries while generating interest from new entrepreneurs, according to ISC.
India’s spacetech segment is expected to grow at a rapid pace as more and more companies are showing keenness to come and invest in the Indian space tech sector. Recently, Elon Musk’s company Starlink has expressed willingness to operate in India.
According to the government data, 55+ space startups have been registered with ISRO over the span of the last two years.
ISRO’s chief S Somanath expressed his joy, stating, “the whole world is looking at India as an inspirational place and it is wonderful to see what is happening in India, especially in the space sector, with the startup ecosystem.”