The universe holds many secrets, and so far, human civilization has been successful in achieving several milestones to unravel a few of them. It was all possible due to the development and evolution of space exploration technologies to send sophisticated probes, instruments, rockets, and equipment. However, there is still more to understand and make space exploration accessible to human citizens, much like exploring the ocean’s depths.
While countries worldwide are striding at a significant pace to leave an unbelievable impression behind, India is definitely not lagging the race. India was the first country to send a space probe to Mars at an exceptionally low cost, setting a global benchmark for cost-effective space exploration. The cost of India’s Mars Mission (Mangalyaan) was $78 million, which is a fraction of the $671 million of the US National Aeronautics and Space Administration’s program.
Space research and innovation are essential components, especially in India, where Top Space Startups in India are emerging as significant contributors to the country’s progress. Startups are the drivers of innovation, bringing new perspectives to tasks that are better and more efficient than conventional methods. The rise of Indian tech-based space startups shows that we are competing globally in the space exploration and innovation race.
Startups are integral to the innovation ecosystem; they prioritize agility, embrace space technology, invest heavily in R&D, and pursue high-risk and high-rewarding projects. Let’s explore some innovations by Indian space startups:
Magnesium is a lightweight structural metal with high damping and highly biocompatible properties. However, some of its features, like flammability, proneness to galvanic corrosion, reduced creep resistance, and low ductility, make it difficult for scientists and engineers to use it for projects where weight reduction is crucial.
However, Hindustan Magnesium, a Hyderabad-based space tech startup, has successfully developed casting technology for several Magnesium alloys that can be used for space technology applications. The startup has established an end-to-end manufacturing process to handle Magnesium and coating solutions to address corrosion and reactivity issues.
Space is a challenging environment, and traditional ultrasound scanners are bulky, requiring a considerable amount of power and trained personnel to operate. Ultrasound scans are essential for medical analysis for astronauts and structural analysis for spacecraft. Ultrasound scanners use high-frequency sound waves to create clear and detailed images of internal structures, like internal organs, blood vessels, tissues, and signs of weakness and thermal expansion in spacecraft structural components.
Nveeas Labs has built a prototype of AI-based phased ultrasound scanners that are portable, lightweight, and easy to use. The AI integration allows the system to interpret the ultrasound images to improve diagnostic accuracy automatically. Because of automation, fewer trained workers are required, and it also helps speed up the diagnostic process.
Fuel tanks are critical for rockets. The current fuel tanks are bulky and carry cryogenic fuel, which increases their weight. If the weight is somehow reduced, then the rocket can carry more payload weight. Onnes, a Hyderabad-based space tech startup, focuses on using carbon polymers (Carbon Fibre Reinforced Plastic (CFRP) to design and manufacture next-gen fuel tanks that are extremely lightweight, strong, durable, and seal-tight, just like metals.
Due to the growing demand, the last few years have seen a boom in space startups worldwide. The spacetech sector is estimated to be worth $77 billion by 2030, according to Inc42’s Indian Spacetech Startup Landscape & Market Opportunity Report 2023. The growth in Space Tech startups in the last 6-7 years is a result of the announcement of the draft space activities in 2017.
According to DataLabs by Inc42, there are about 120 active space startups in India, with 64% emerging in the last six years. Some of them include Aadyah Aerospace, Agnikul, Astrogate Labs, Bellatrix Aerospace, Blue Sky Analytics, and more. The rise of space startups can be attributed to the massive support from the central government in all aspects, including funding, technology access, and infrastructure support through startup accelerators in India and startup incubators in India.
The Indian Government is focusing on every sector of the economy because each sector plays a crucial role in contributing towards the growth of our country. From the defence industry to space, the government has launched several initiatives and policies to create a sound and conducive startup ecosystem because they have the potential to change conventional methods.
In the 2024-25 Union Budget, the finance minister, Nirmala Sitharaman, announced setting up a VC (venture capital) fund of Rs.1000 crores to support the growth of space tech startups. Around 100 startups have registered with ISRO (Indian Space Research Organization), and Microsoft has partnered with ISRO in January 2023 to boost the growth of Indian Spacetech startups.
Besides the Government, there are accelerators and incubators that support startups, helping them scale rapidly and refine their working models or original products. AIC T-Hub is one of the startup accelerators in India with the world’s largest ecosystem of startups, focusing critically on space tech, semiconductors, EVs or mobility, sustainability, and the healthcare industry.
The Space Tech program encourages space visionaries to position themselves as the revolutionary and transformative force in the space industry. It focuses on assisting startups in commercializing their innovations by providing them with the necessary business insights, guidance from experienced industry experts, access to working capital, and so much more.
Through these resources, the accelerators not only aid startups by supporting and improving their innovations but also help pave the way for groundbreaking technologies.
There are challenges in the aerospace industry, and startups have the agility and passion to resolve the problems with innovative solutions. The possibilities are limitless when it comes to innovation; however, necessary support is required to help the startups grow in the right direction. Given the industry’s competitive nature, it might be easy to stray from the path, but mentors from accelerator and incubator programs help space tech startups focus on improving their product features and rapidly scaling up.