<p>In 2023, India witnessed the emergence of 54 new space startups, thereby taking the total number of fledgling firms in the sector to 204. In this year alone, the Indian space startups received a funding of $123.9mn, thereby taking the total funding in this sector to $380.25mn, according to the Indian space industry body Indian Space Association (ISPA).&nbsp;</p>

<p>"The Indian space startups have become a strong pillar for the private space industry in the last decade, especially after the landmark move of opening the Indian space sector to private companies by our Prime Minister Narendra Modi back in 2020," said&nbsp;Lt. Gen. AK Bhatt (Retd), Director General, ISPA.&nbsp;</p>

<p>Until 2020, only the Government-run ISRO had been permitted to carry out end-to-end space activities including designing and developing rockets, and satellites, launching the rockets and spacecraft, etc.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/india-news/indian-firm-skyroot-unveils-7-storeys-tall-spacefaring-rocket-vikram-1-650742">Indian firm Skyroot unveils 7-storeys tall spacefaring rocket 'Vikram-1'</a></strong></p>

<p>Until the space sector reforms, the private firms and startups remained as mere suppliers of components to the Indian Space Research Organisation. Reforms enabled private firms and startups to seek the government's support to carry out a wide range of space activities, with approvals from the sectoral regulator, the government-run IN-SPACe (Indian National Space Promotion and Authorisation Centre).</p>

<p>Outlining the highlights of the year, ISPA emphasised the announcement of the New Space Policy 2023, by the Indian government.&nbsp;</p>

<p><strong>Also watch |&nbsp;Chandrayaan-3 mission: Boosting India's space industry</strong></p>

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<p>Though the intent of liberalising the space sector had been stated by the government in June 2020, the policy in black and white came in April 2023, said ISPA. This is a landmark policy because it allows private players to carry out all activities in all possible verticals, from launch vehicles, to communications, applications, etc.&nbsp;</p>

<p>On the progress towards making satellite internet available in India, ISPA mentioned that&nbsp;OneWeb India recently became the first company to receive approval from Indian space regulator IN-SPACe for providing satellite broadband services. "</p>

<p>The company is soon to roll out space-based communication services in India. Marking a significant milestone for India's burgeoning satellite communication sector, the Telecommunications Bill, 2023, recently secured legislative approval with its passage through both houses of Parliament. This landmark legislation paves the way for the administrative allocation of satellite spectrum in India" the industry body said.&nbsp;</p>

<p>Outlining some of the major achievements of Indian space startups, ISPA said that&nbsp;</p>

<p>Dhruva Space launched its 3U and 6U Satellite Orbital Deployers and its Dhruva Space Satellite Orbiter Link (DSOL) onboard ISRO's PSLV C55, as part of POEM-2. Satellite firm Azista-BST launched its maiden satellite, the&nbsp;ABA First Runner (AFR) on a SpaceX rocket.</p>

<p>Hyderabad-based Launch vehicle firm&nbsp;Skyroot Aerospace inaugurated India’s largest private integrated rocket development facility under a single roof. It also unveiled Vikram-1, a multi-stage launch vehicle that stands seven stories tall, with a payload capacity of approximately 300 kg and the ability to deploy satellites into lower earth orbit (LEO).</p>

<p>Chennai-based rocket firm Agnikul Cosmos&nbsp;Agnikul announced the completion of ground tests and unveiled their rocket, at their private launch facility within the ISRO spaceport at Sriharikota.&nbsp;</p>

<p>"As the private space sector in India propels forward with unprecedented collaborations, groundbreaking launches, and visionary policies, the Indian private space industry is set for a revolution in 2024"&nbsp;Lt. Gen. AK Bhatt, Director General, Indian Space Association opined.&nbsp;</p>


In 2023, India witnessed the emergence of 54 new space startups, thereby taking the total number of fledgling firms in the sector to 204. In this year alone, the Indian space startups received a funding of $123.

In 2023, India witnessed the emergence of 54 new space startups, thereby taking the total number of fledgling firms in the sector to 204. In this year alone, the Indian space startups received a funding of $123.9mn, thereby taking the total funding in this sector to $380.25mn, according to the Indian space industry body Indian Space Association (ISPA). "The Indian space startups have become a strong pillar for the private space industry in the last decade, especially after the landmark move of opening the Indian space sector to private companies by our Prime Minister Narendra Modi back in 2020," said Lt. Gen. AK Bhatt (Retd), Director General, ISPA. Until 2020, only the Government-run ISRO had been permitted to carry out end-to-end space activities including designing and developing rockets, and satellites, launching the rockets and spacecraft, etc. Also read | Indian firm Skyroot unveils 7-storeys tall spacefaring rocket 'Vikram-1' Until the space sector reforms, the private firms and startups remained as mere suppliers of components to the Indian Space Research Organisation. Reforms enabled private firms and startups to seek the government's support to carry out a wide range of space activities, with approvals from the sectoral regulator, the government-run IN-SPACe (Indian National Space Promotion and Authorisation Centre). Outlining the highlights of the year, ISPA emphasised the announcement of the New Space Policy 2023, by the Indian government. Also watch | Chandrayaan-3 mission: Boosting India's space industry × Though the intent of liberalising the space sector had been stated by the government in June 2020, the policy in black and white came in April 2023, said ISPA. This is a landmark policy because it allows private players to carry out all activities in all possible verticals, from launch vehicles, to communications, applications, etc. On the progress towards making satellite internet available in India, ISPA mentioned that OneWeb India recently became the first company to receive approval from Indian space regulator IN-SPACe for providing satellite broadband services. " The company is soon to roll out space-based communication services in India. Marking a significant milestone for India's burgeoning satellite communication sector, the Telecommunications Bill, 2023, recently secured legislative approval with its passage through both houses of Parliament. This landmark legislation paves the way for the administrative allocation of satellite spectrum in India" the industry body said. Outlining some of the major achievements of Indian space startups, ISPA said that Dhruva Space launched its 3U and 6U Satellite Orbital Deployers and its Dhruva Space Satellite Orbiter Link (DSOL) onboard ISRO's PSLV C55, as part of POEM-2. Satellite firm Azista-BST launched its maiden satellite, the ABA First Runner (AFR) on a SpaceX rocket. Hyderabad-based Launch vehicle firm Skyroot Aerospace inaugurated India’s largest private integrated rocket development facility under a single roof. It also unveiled Vikram-1, a multi-stage launch vehicle that stands seven stories tall, with a payload capacity of approximately 300 kg and the ability to deploy satellites into lower earth orbit (LEO). Chennai-based rocket firm Agnikul Cosmos Agnikul announced the completion of ground tests and unveiled their rocket, at their private launch facility within the ISRO spaceport at Sriharikota. "As the private space sector in India propels forward with unprecedented collaborations, groundbreaking launches, and visionary policies, the Indian private space industry is set for a revolution in 2024" Lt. Gen. AK Bhatt, Director General, Indian Space Association opined.

Rewind 2023: India has 204 space startups, sector received $123mn investments

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Rewind 2023: India has 204 space startups, sector received $123mn investments