SpaceTech Innovation Network

Syllabus: General Studies Paper 3

The Indian Space Research Organisation (ISRO) has signed an MoU with Social Alpha, a multistage innovation curation and venture development platform for science and technology start-ups, to launch SpaceTech Innovation Network (SpIN).

About the SpaceTech Innovation Network (SpIN)

• SpIN is India’s first dedicated platform for innovation, curation, and venture development for the burgeoning space entrepreneurial ecosystem.
• The space agency said that the tie-up is a one-of-a-kind public-private collaboration for start-ups and SMEs in the space industry.
• This novel partnership is a significant step forward in providing further stimulus to India’s recent space reform policies and will work towards identifying and unleashing the market potential of the most promising space tech innovators and entrepreneurs in India
• SpIN will primarily focus on facilitating space tech entrepreneurs in three distinct innovation categories: 
• Geospatial Technologies and Downstream Applications 
• Enabling Technologies for Space & Mobility
• Aerospace Materials, Sensors, and Avionics.

Significance of the programme

• Space applications cut across various domains from earth to sky. Innovative technologies are expected to bring a paradigm shift in utilising the space applications to maximise the economic, social, and environmental benefits for the larger society.
• SpIN has launched its first innovation challenge. 
• Early-stage start-ups for developing solutions in areas of maritime and land transportation, urbanisation, mapping, and surveying, disaster management, food security, sustainable agriculture, environmental monitoring, and natural resources management, among others are encouraged to apply.
• The selected start-ups and innovators will be able to access both Social Alpha’s and ISRO’s infrastructure and resources as per the prevailing guidelines.
• They will be provided active hand-holding in critical areas, including access to product design, testing and validation infrastructure, intellectual property management, go-to-market strategy, and access to long-term patient capital, among other technical and business inputs.

Question: What are the major objectives of the SpaceTech Innovation Network (SpIN) launched by ISRO and Social Alpha?