2 years ago, the space-tech startup opened its doors to the private sector, more than 55 space-tech startups have registered themselves with the ISRO (Indian Space Research Organization).

Chairing the fourth joint meeting of all science-related ministries and departments, it is revealed that of the 55 proposals which are received by ISRO, amongst them 29 were satellite related, while 10 are space applications and product-related. 

All 8 proposals belong to vehicle product launchings, while the other 8 are related to ground systems and research. 

The 9 proposals received from space-tech startups are under the consideration of the ministry and are expected to be completed by 2022-23.

In addition to this, 75 students’ satellites are also planned to be launched this year to coincide with Azadi Ka Amrit Mahotsav, which is organized the mark the 75th year of India’s independence.

The formation of a Science Media Center will work as an inter-ministerial integrated media cell for all science and technology departments.

Prior to the information of the minister of the Lok Sabha, 75 startups were registered with the Department for Promotion of Industry and Internal Trade (DPIIT) under the Space Technology category.

The government is making a joint effort to promote startups in the space-tech sector. The government allocated the budget of INR 13.7K Cr for the Department of Space in the year 2023, an increase of INR 1,058 Crore over the revised estimation plan of last 2021. 

India has more than 120 active startups in the space-tech sector that consist of rocket technology startup Bellatrix, satellite maker Dhruva Space, and more.

It is believed that the commercial space-tech market will grow to $77 Billion in the coming years till 2030.