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Number of spacetech startups in India is on the rise
Currently, India boasts of over 100 spacetech startups. The year 2021 was a watershed year for spacetech startups, with investments reaching US$68m, a y-o-y increase of 196%. There were a total of 47 new spacetech startups established in India in 2021. Key drivers for investment in the Indian space segment are:
- The government’s push for inclusion of private players in the space segment
- Lower costs for developing and launching satellites
- Promise of substantial Return on Investment (RoI)
- Increased market demand for geospatial data
- Technological advancement in the space industry