The Indian Space Research Organization (ISRO) and Social Alpha have today signed a memorandum of understanding (MoU) to establish the SpaceTech Innovation Network (SpIN), India’s first specialised platform for innovation curation and venture development for the burgeoning space entrepreneurial ecosystem. This innovative partnership, a first-of-its-kind public-private partnership for start-ups and SMEs in the space industry, will work to identify and unleash the market potential of India’s most promising space tech innovators and entrepreneurs. It is a significant step forward in providing further stimulus to India’s recent space reform policies. The main objective of SpIN will be to support space technology entrepreneurs in three different innovation areas: geospatial technologies and downstream applications; enabling technologies for space & mobility; and aerospace materials, sensors, and avionics.
SpIN has introduced its first innovation challenge in accordance with the introduction of the cooperation. Applications are encouraged from early-stage start-ups that are creating solutions for problems such as land and maritime transportation, urbanisation, mapping and surveying, disaster management, food security, sustainable agriculture, environmental monitoring, and natural resource management, among others.
According to the current regulations, the chosen start-ups and innovators will have access to the infrastructure and resources of both Social Alpha and ISRO. In addition to other technical and business inputs, they will receive active support in key areas such as access to product design, testing and validation infrastructure, intellectual property management, go-to-market strategy, and access to long-term patient financing. From December 6, 2022, to February 6, 2023, applications are accepted.
