India's space regulator IN-SPACe on Monday announced a seed fund scheme for startups operating in the areas of Urban Development and Disaster Management by using space technology.
The scheme, launched by The Indian National Space Promotion and Authorization Centre (IN-SPACe) in collaboration with the National Remote Sensing Centre (NRSC), will provide opportunities for private players to leverage space technology for societal benefits.
"The seed fund scheme is a part of efforts to provide a special thrust to enhance the space activity capabilities of the nation with the active participation of the startups," Pawan Goenka, Chairman, IN-SPACe said.
He said the scheme was designed to support Indian space startups that aim to develop innovative space products and services to improve the quality of life for people and communities in India and around the world.
The last date of application for the scheme is December 20.
As part of the scheme, selected startups will receive seed funding for transforming an original idea into a prototype using space technology, ISRO facility support including Earth Observation (EO) data for validation of the concept, mentorship support, and access to data algorithm as transfer of technology from the Department of Space.
The IN-SPACe Seed Fund Scheme has the provision of providing financial assistance up to Rs 1 crore in addition to mentorship support, training and networking opportunities.
For urban development, opportunities abound for start-ups working in the domains of urban planning, monitoring and infrastructure management, telecommunication, navigation, broadband connectivity, water resources management, energy efficiency, climate and weather monitoring, disaster risk reduction, public health, healthcare, and more, a statement from IN-SPACe said.
Similarly, disaster management offers opportunities for startups specialising in the domains of Geographical Information System (GIS), early warning and monitoring systems, insurance and risk assessment, communication and navigation systems, climate change monitoring, search and rescue operations, space-borne sensors, and instruments, among others, it added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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