India tells the success story of significant startups that develop solutions to make the country a global leader in the space industry.
At the AWS Summit, Clint Crosier, the director of the AWS Aerospace and Satellite business, called India the next space technology hub. AWS sees India as a significant growth market and plans on investing over $16 billion in Indian infrastructure by 2030.
“We’re investing in the Indian people, the Indian economy, and Indian technology. We want to make our technology available and believe it can do wonderful things in India,” said Crosier, a former US Air Force Major General who has more than three decades of experience in space missions.
To Infinity and Beyond
Ten years ago, India only had one startup, now it has at least 190 space technology startups, Crosier said. Last year, space startups raised $120 million in new funding, a rate that is doubling or tripling annually.
India also has a huge intellectual capital. “The best technologists in the world come from India. When the thought of scaling in different countries came up, India was clearly the right place to start,” Crosier said.
India’s space business is currently valued at $8 billion, accounting for a meagre 2% of the worldwide space economy. However, by 2033, Crosier believes it is expected to be $44 billion.
Crucially, the government expenditure component, which has been significant in recent years, is predicted to shrink from 27% in 2021 to less than 18% by 2040. These factors will help rapid growth of its dynamic private space startup ecosystem.
Wings of Fire
The once-dominant state-run ISRO has given way to many rapidly growing entrepreneurs.
These endeavours cover a wide range of industries, including Earth observation applications (Pixxel), space-based data analytics (Bellatrix Aerospace), satellite manufacturing (Agnikul Cosmos), and launch vehicle development (Skyroot Aerospace).
India’s cost advantage in space missions, combined with ISRO’s technological knowledge, gives entrepreneurs a distinct advantage, luring global clients and paving the way for India to become a significant space power.
For example Kawa Space, which Crosier mentioned in his talks, signals intelligence and maritime domain awareness as a service.
He also highlighted the significant role of Blue Sky Analytics in the fight against climate change. The company is leveraging satellite data, AI, and cloud technology to make a substantial impact.
Another key player is T-hub, a renowned accelerator and incubator in India, sponsored by the Indian government, and a part of the AWS Space Tech Accelerator Program. Crosier emphasised the importance of their participation in the program.
Crosier also emphasised India’s significant role as a pioneer in quantum key distribution. This technology enables real-time data distribution with a low-latency key.
He also introduced GIS Kernel, a Pune-based startup, which is involved in building satellites for quantum key distribution. Crosier hailed India’s leadership in this field, fostering a sense of pride and appreciation.
Apart from these, there is KCP Infra that has delivered Integrated Air Drop Test (IADT) – Crew Module Structure to ISRO for the Gaganyaan mission.
Another company helping India achieve the dream of sending a man in space is Tata Elxsi, which has designed and developed the crew
module recovery models (CMRM) for the recovery team training for the space mission. Pushpak Aerospace, another Bangalore-based startup, is delivering aerospace components for ISRO.
Credit Goes to ISRO and IN-SPACe
ISRO, which has been a pioneer in space exploration in the country, has been collaborating with these startups providing them with the much-needed fuel to carry on.
For instance, technological firms like Ananth and Data Patterns are the core manufacturers of ISRO’s ground stations, nano satellites, and automated test equipment. Dhruva Space manufactures satellites for missions in Low Earth Orbit (LEO) and beyond.
Through the help of ISRO, Skyroot became the first private Indian startup to successfully test liquid propulsion engines and a 3D printed cryogenic engine. It launched India’s first private rocket, Vikram-S, in 2022.
To facilitate private sector participation, the government has created the Indian National Space Promotion and Authorisation Centre (IN-SPACe), as a single-window, independent, nodal agency.
Going Long on India
Not just AWS, major space-tech companies are investing in India. Elon Musk’s SpaceX has been collaborating with Indian space startups for a long time.
Last year, it launched Indian startup Azista BST Aerospace’s satellites for remote-sensing capabilities. The company claims it can produce 50 satellites in a year and its spacecraft for 20% less cost than rivals elsewhere.
Musk, who is set to visit India soon, will meet some startups and will be exploring investment opportunities in EVs, space exploration, and satellite-based services
Major players, including Jeff Bezos’ Blue Origin, which, like Musk’s SpaceX, provides launch services among other things, met with the Indian government and entrepreneurs several times over the past two years to discuss manufacturing collaborations.
Recently, The US-headquartered Space Exploration and Research Agency (SERA), in collaboration with Blue Origin, announced India as a “partner nation” in its human flight program for citizens.
GIC, the Singapore sovereign wealth fund, and Sherpalo Ventures, based in Silicon Valley, have both invested in Indian space startups.
Sky Is No Longer The Limit
In Crosier’s words, government support, investment flows, number of tech companies, and policy environment give India the best opportunity to boost the space industry through partnerships with startups.
He said that India’s space agency is already riding high with its past successful missions. “In the future, we are going to see continued investment and funding,” shared Crosier.
This influx of capital will enable startups to build infrastructure, advance technology, attract talent, and enhance launch capabilities. India has a large talent pool of skilled engineers and technologists that companies want to tap into and support.
