Space Tech Startups need more Resources
History was made on May 30, 2020. NASA astronauts went into orbit on the first commercially built rocket and spacecraft, made by SpaceX.
The feat has opened up many opportunities for space tech startups in a future market worth billions, including in India. Finance Minister Nirmala Sitharaman has announced that space and atomic energy will open to the private sector, as part of the economic package.
The reforms aim to level the playing field for the private sector in satellites, launches and space-based services. They promise a predictable policy and regulatory environment for private players. They also give private players access to geospatial data and to facilities of the Indian Space Research Organisation (ISRO).
We expect over 17,000 small satellites to be launched in Low Earth Orbit by 2030. Many space tech startups are emerging.
Prixxels is building a network of nano-satellites to offer global, real-time and affordable satellite imagery. Bengaluru-based Bellatrix Aerospace provides novel “electric propulsion” systems, used to propel nano and micro-satellites. Manastu Space has built a “green propulsion” system that uses hydrogen peroxide as fuel.
With so many strong ideas, Indian startups need a bigger boost than the government now offers them.
Funding is always an issue. This sector will take time to lift off. So the government has to give early-stage support, not just venture capital, and steady capital throughout.
The public-private partnership the FM spoke of should show up in money, not just in development.
India also needs an ecosystem of incubators, accelerators and mentors to support these space tech startups. ISRO is expected to play a major role in it. This will run alongside other government initiatives such as Digital India, Startup India, Make in India and the Smart Cities Mission.
The government can also rewrite the Space Activities Bill. The bill was drafted and introduced in 2017 and has now lapsed.
The market in this field is up for grabs. India must give its startups every possible resource, so they can stake their claim and help the country lead the race in space tech.
