The Indian Space Research Organisation is on a roll. From launching 104 satellites on a single rocket to aiming to spin off industry led ventures in building satellites and rockets, the momentum of space activities in the country is picking up.
We want to ask you your thoughts and recommendations on what ISRO/Policy makers can do to take space activities to the next level. To start off, here are some recommendations we’ve collected talking to some experts.
- Establish a yearly independent study on the size of the space economy. Our interactions with institutional investors highlighted that they have no clue in figuring out what is the size of the markets in India in making their investment decisions. This can be done independent market research brands such as Northern Sky Research or EuroConsult which are dominant in the space industry and can help in the institutional investment landscape.
- Geospatial data exploitation and NAVIC exploitation can be done thematically via Prize mode, which the government is using in other sectors. For example, setting up of a Clean Ganga prize to encourage the use of Geospatial Data.
- Setup a NewSpace Working Group – NewSpace working group that can directly take up recommendations with the space commission which is the highest decision making body in DoS rather than at ISRO level. Any policy level decisions can be directly taken up with the space commission this way in fostering faster growth. Inclusion of a reputed industry member in the space commission is a possible and necessary extension.
- Create a ISRO-Industry Business Incubation Programme where new technologies, services can be encouraged with seed funding and support from ISRO. Customer can be govt departments at federal and state level as well. This being taken up by NSRC for geospatial data at the moment but can be accelerated to roll out quickly. This can also be explored in other ISRO centres for other products/services. One BIC per one major ISRO Centre makes sense, given each Centre has a different expertise. This will drive more institutional investor confidence.
- Institute space startup and SME prizes as a part of the CII Bangalore Space Expo. Winners can go to IAC with ISRO and get financing for a stall to showcase their product/service.
Please CLICK HERE to add your recommendations. We will publish a collated version of the recommendations after a month.
Thank you for your contributions.