Indian space agency, Indian Space Research Organization (ISRO), will now be able to sell its research and development work in space technology to private players in India.
On Tuesday, the Union Cabinet chaired by Prime Minister Narendra Modi gave its approval for setting up of a new company under the Department of Space (DoS), to commercially exploit the research and development work carried out by ISRO and its constituent units.
To recall, ISRO, which possess 17 million gigabytes of massive geo-spatial data to be explored, has already opened up its indigenous technology of lithium-ion batteries to local startups in June last year.
Last month, ISRO announced that it has selected ten companies for transfer of its Lithium-ion cell technology.
This move from ISRO and the govenment will definitely prove as landmark decision to change course of Space Technology industry in India especially start-up ventures, which are more keen on e-commerce and online ventures and show virtually no interest in space tech domain. Moreover, the decision will also allow private companies to access the breakthrough technologies that have remained in ISRO’s “Walled Garden”.
The new company, the name of which is yet to be finalized, will take license from DoS/ISRO and sub-license to industries for the technology transfer from ISRO.
According to ISRO Chief, Mr K Sivan, “ISRO has developed technologies in materials, chemicals and others. These can be transferred so that people can benefit.”
The following areas/avenues provide opportunities for private players to commercially exploit ISRO programmes:
Recently, ISRO announced Young Scientist Programme where in the space agency will encourage young students in India to develop ‘scientific payloads’ that can be launched by ISRO.
Source – NDTV, Business Insider
Like this content? Sign up for our daily newsletter to get latest updates.
This site uses Akismet to reduce spam. Learn how your comment data is processed.
We Dont Spam !