ISRO inks MoU to establish SpaceTech Innovation Network

The Indian Space Research Organisation (ISRO) has signed an MoU with Social Alpha, a multistage innovation curation and venture development platform for science and technology start-ups, to launch SpaceTech Innovation Network (SpIN).

SpIN is India’s first dedicated platform for innovation, curation, and venture development for the burgeoning space entrepreneurial ecosystem. The space agency said that the tie-up is one-of-a-kind public-private collaboration for start-ups and SMEs in the space industry.

“This novel partnership is a significant step forward in providing further stimulus to India’s recent space reform policies and will work towards identifying and unleashing the market potential of the most promising space tech innovators and entrepreneurs in India,” the space agency said. It added that SpIN will primarily focus on facilitating space tech entrepreneurs in three distinct innovation categories: Geospatial Technologies and Downstream Applications; Enabling Technologies for Space & Mobility; and Aerospace Materials, Sensors, and Avionics.

“Innovative technologies are expected to bring a paradigm shift in utilising the space applications to maximise the economic, social, and environmental benefits for the larger society. I wish the SpIN platform would create a level playing field for various stakeholders to collaborate and contribute to the space ecosystem in the country,” said S. Somanath, Chairman, ISRO.