WHAT ARE THE JUSTIFICATIONS FOR PRIVATIZING SPACE TECHNOLOGY?

Putting Chandrayaan 3 on the moon & 80 lakh Indians watching it live is only the start. The cost-benefit of building space tech in India & selling globally will unfold this decade - here's how 👇

Venturing beyond the moon with Chandrayaan 3 and captivating 8 million Indian viewers live is just the beginning. The forthcoming decade will unravel the economic viability of nurturing and disseminating India's space technology globally. Explore the journey below:

Let's be clear, capturing a stake in the $450 Billion global space industry goes beyond focusing solely on the government-owned ISRO. What's imperative is a collaborative approach involving public and private entities in technological advancements and more.

In 2019, the Union Government established the second space organization—IN-SPACe, tasked with overseeing:

• Resource sharing under DRDO/ISRO.
• Development of new infrastructure.
• Cultivation of talent within the Indian space ecosystem.

The challenge lies in the substantial upfront capital required before any assurance of future revenue, hindering space-tech companies in their early funding rounds. Manastu Space ($3 Million) and AgniKul Cosmos (~$26 Million) have opted for equity, a path chosen by a select few.

Yet, the space-tech realm is undeniably capital-intensive 💰💰💰. 

Consider SpaceX, with its reusable rockets, charging $67 million per satellite launch—more than the cumulative funding of any Indian space-tech startup.

To position India as the globe's preferred satellite-launching nation, three critical challenges must be addressed ⏬

Capital Ignition 🔥

The fundamental issue is enabling smaller players to conduct satellite launches, reinvesting the revenue generated. Additionally, India lacks late-stage investors in this domain.

Component Shortage 🛠

A scarcity persists as few local or foreign entities manufacture components in India. Production-linked incentives can remedy this, fostering an ecosystem of Tier 2/3/4 vendors.

Talent Shortage 🫂

Despite over 350,000 pursuing degrees in Aerospace Engineering and Operation Technicians annually, India grapples with talent acquisition due to outdated curricula. Speak to any space tech founder, and they'll lament this predicament.

We have many people studying aerospace engineering and operation technicians each year, but India still struggles to find skilled individuals because the education programs are not up to date. If you talk to anyone starting a space tech company, they will complain about this issue. However, solving these problems is doable; we just need the determination to fix them. It's crucial for both public and private partners to work together, learning from past mistakes like the Team Indus <> ISRO situation.