We are discussing IN-SPACE and ISRO to Work with Indian Startups to Build and Manage Earth Observation Systems:
The Indian National Space Promotion and Authorization Center will work with Indian private firms and startups to build and manage Earth Observation systems based on Space. The program will be held under a public-private partnership model, with the design, launch, and development of a constellation of satellites equipped with advanced imaging technologies. Interested companies and startups can register for this program with the nodal space body by 1st August. Here, we are talking about IN-SPACE and ISRO to Work with Indian Startups to Build and Manage Earth Observation Systems.
The project focuses on developing a robust, sustainable, and self-reliant earth observation system to meet the growing demand for earth observation data. The organization mentioned that the advanced imaging technology and infrastructure for the constellation of satellites will create significant commercial potential. This will result in the development of more competitive products. Inc42 reported.
The Chairman of IN-SPACE, Pawan Goenka, mentioned that this program collaborates with the Indian space and research organization. The startups will be judged based on different parameters, including funding, revenue, and valuation; the measuring parameters are set by In SPACE. The Indian startups aiming to participate must have secured at least Rs 85 crore in funding, and the threshold should be at half, around Rs 42.5 crore.
The companies interested in this project must have annual revenue of around Rs 200 crore in three years or they should have a valuation of Rs 850 crore. The EOI is accepting proposals from companies to develop satellite constellations equipped with multispectral, hyperspectral, achromatic, and microwave imaging. The selected companies can launch the satellites through Indian satellite launching vehicles. They will get access to control and monitor the spacecraft’s health. The organization also provides a project to process the downloaded payload data from satellite constellations and generate the analysis-ready data for application purposes.
The selected startups can monetize the space data and related services. This will enable the startups to increase their global presence in the geospatial market. Earlier this year, A space tech startup, Galaxeye, gained access to the Indian National Space Promotion and Authorization Center to launch its first satellite. The startup developed a constellation satellite for high-quality imaging regardless of bad climate or weather conditions, contributing to disaster management and recovery management. The development came just after the Indian government announced a Rs 1,000 crore venture capital fund to Indian space tech startups.
Conclusion
ISRO and IN-SPACE will launch a project for Indian startups and private companies. The organization aims to manage and build self-reliant, robust, and sustainable space-based earth observation systems. Interested applicants can register with the program by the 1st of August. IN-SPACE will select the candidates based on different parameters. The startup’s funding, valuation, and revenue also play an important role in this project. The companies participating in this program must have at least Rs 85 crore raised in funding, with the threshold value being half the amount at Rs 42.5 crore. The applicants must have a valuation of Rs 850 crore with annual revenue of Rs 200 crore for three years.
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