Space Tech Innovation Network

The Indian Space Research Organisation (ISRO) has signed a Memorandum of Understanding (MoU) with Social Alpha to establish a SpaceTech Innovation Network (SpIN).

What is Social Alpha?

Social Alpha is a multistage innovation curation and venture development platform supporting activities concerning science and technology. It supports innovators and entrepreneurs who are involved in the creation of social, economic and environmental impact to address India’s developmental challenges. It operates through a nationwide network of technology and business incubation infrastructure, with the sponsorship from Tata Trusts, the Indian Government, and other academic, philanthropic and corporate partners.

What is SpaceTech Innovation Network?

• The SpaceTech Innovation Network (SpIN) is India’s first dedicated platform for innovation, curation and venture development of the country’s rapidly growing space entrepreneurial ecosystem.
• It will mainly focus on supporting space tech entrepreneurs in three different innovation categories. These categories are:

1. Geospatial Technologies and Downstream Applications
2. Enabling Technologies for Space and Mobility
3. Aerospace Materials, Sensors, and Avionics

• The partnership between ISRO and Social Alpha to create SpIN is a one-of-a-kind public-private collaboration for startups and SMEs in the space industry.
• It is expected to play a pivotal role in providing more stimulus to India’s recent space reform policies.
• It will work towards the identification and realization of the full potential of the market for the most promising space tech innovators and entrepreneurs in India.

About the Innovation Challenge

In line with the recently signed MoU, SpIN recently launched its first innovation challenge for early-stage startups involved in the development of solutions in areas of maritime and land transportation, urbanisation, mapping, and surveying, disaster management, food security, sustainable agriculture, environmental monitoring, and natural resources management and other areas.

The selected startups and innovators will be able to access the resources and infrastructure of both ISRO and Social Alpha based on the existing guidelines. They will be provided with active hand-holding services, like access to product design, testing and validation infrastructure, intellectual property management, go-to-market strategy, access to long-term patient capital etc.

Month: Current Affairs - December, 2022

Category: India Nation & States Current Affairs