According to Pawan Goenka, chairman, Indian National Space Promotion and Authorisation Centre (IN-SPACe), the organisation is hoping to make the first disbursal from Rs 10 billion venture capital fund aiming to boost the space technology during first quarter of financial year 2025-2026.
The fund is expected to support approximately 40 start-ups in the sector and will accelerate the private space industry’s growth.
As per Goenka, the request for proposal (RFP) has been floated for appointing fund managers and the the proposed Space Law is in draft form and will come out with a public consultation in a couple of months.
In addition, IN-SPACe has announced that Ananth Technologies Limited (ATL) has been authorised to develop and operate geostationary (GSO) satellite in kurtz-above (Ka)-band. The company will be the first private Indian satellite operator to provide GSO communication satellite to the country.
ATL, under the announcement of opportunity (AO), will leverage India’s International Telecommunication Union (ITU) filings in Ka-band to develop a high-throughput satellite. ATL will oversee the entire project, including satellite design, launch, and operations, along with handling critical frequency coordination and ITU compliance.
The satellite will feature multi-beam technology and aims to enhance connectivity across India. The company will also leverage Indian Space Research Organisation’s (ISRO) expertise on building and launching the satellite.
