Indian Space Research Organisation (ISRO) has signed an MoU with the National Institute of Technology (NIT), Rourkela to set up a Space Technology Incubation Centre (S-TIC).

Under this, ISRO will provide an annual Grant-in-Aid of Rs 20 million for two years to NIT-R for setting up STIC. This will be utilised for facility augmentation to carry out the research projects and product development taken from ISRO.

This collaboration with ISRO will open up new opportunities for research and development as well as space start-ups.