In the near future, we might see space technology opening new frontier for Indian entrepreneurs and startups, according to a statement made by ISRO chairman A S Kiran Kumar.

Speaking at the recently concluded IIMA’s Red Brick Summit (RBS), Kumar said that there are tremendous opportunities opening up with the fast-evolving technology, and there is growing scope for collaboration between public and private sectors.

Kumar further revealed that currently there is a huge demand for location-based services and geospatial technology for various applications such as vehicle tracking.

ISRO provides data and computational facilities from its centres such as Hyderabad for geospatial data, and Ahmedabad for weather-related data. While there are inputs available in the form of data, this informations needs to be explored by entrepreneurs for coming up with innovative solutions.

Kumar believes that opportunities can be conceived through alternate applications on the basis of the hardware being developed by ISRO. Giving the example of a Bengaluru company developing a new thruster technology for ISRO, Kumar mentions that entrepreneurs can even consider solving a particular problem by inventing suitable technology.

Space technology is technology developed by space science or the aerospace industry for use in spaceflight, satellites, or space exploration. Space technology includes spacecraft, satellites, space stations, and support infrastructure, equipment, and procedures.

Kumar also used the platform to discuss the role management students are capable of playing in space technology. According to him, management students can make their place in the sector by following two main paths: they can enter the technology development field and provide solutions to ISRO in terms of launch vehicles, satellites, etc; or make use of the already developed technology to provide it to the consumers.

Kumar firmly opinions that the younger generation of the country is more fearless than its predecessors and is always up for a challenge. He said, "Globally, the situation is changing fast and there are opportunities in research and development, as space exploration is the new frontier."

While presenting at the conference, Kumar took the attendees through India's journey into space through the various missions executed by the country and their outcomes. He also shared that the highly publicised Mars Orbiter Mission (MOM) can now be considered as a hit, as it completed 1,000 days in the Mars orbit in June this year. He also highlighted that successful satellite launch vehicles such as PSLV and GSLV show us how India’s space technology has evolved over the years and the potential the country holds.

This development was first reported in The Times of India.

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