BENGALURU: Startups can now leverage the Seed Fund Scheme announced by the Indian National Space Promotion and Authorization Centre (IN-SPACe) to build solutions in the areas of Urban Development and Disaster Management by using space technology. IN-SPACe -- the commercial arm of the Indian Space Research Organisation (ISRO) -- announced the scheme on Monday and it is extended to organisations that can improve the quality of life for people and communities in India and around the world.
The scheme was launched in collaboration with the National Remote Sensing Centre (NRSC), ISRO, that will provide opportunities for Non-Government Entities (NGEs) to foster a framework to engage with startups in the country. The last date of application for the Seed Fund Scheme is December 20, 2023.
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 (DoS). The scheme can provide financial assistance up to Rs 1 crore to startups, including mentorship support, training and networking opportunities.
“The role of the space sector is crucial to the overall development of the national economy, and IN-SPACe has been bringing out schemes from time to time for promoting space technology for the benefit of the common man. The Seed Fund Scheme is a part of IN-SPACe’s efforts to provide a special thrust to enhance space activity capabilities of the nation with the active participation of startups,” IN-SPACe Chairman Pawan Goenka said.
For urban development, startups in the domain 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, and healthcare, can apply.
For disaster management organisations specialising in the domains of Geographical Information Systems (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. The applications to the Seed Fund Scheme should be made only through the IN-SPACe Digital Platform (IDP). More details on eligibility criteria and the nature of financial assistance can be found on the website inspace.gov.in.