Karnataka Launches Draft Space Tech Policy at Bengaluru Tech Summit
The Karnataka government unveiled its Draft Space Technology Policy 2024-2029 at the 27th Bengaluru Tech Summit on Thursday. With this, the government wants to position itself as a leading player in India’s burgeoning space sector. The policy aims to transform the state into a global hub for space technology, targeting a 50% share of the national market. The event, which focused on the evolving space technology landscape, featured a keynote session attended by prominent figures. During the session, the Karnataka government and DRDO signed a Memorandum of Understanding (MoU) to promote the state’s defence industrial ecosystem. The collaboration aims to enhance research and development, support startups, and bolster Karnataka’s position in defence and space technologies. There were also announcements on policies according to which non-governmental entities will work in space, the ‘foreign direct investment’ policy, and the ‘’ policy according to which the satellite recorded data will be available for free. About the Policy Announcements Dr S. Somanath, chairman of the Indian Space Research Organisation (ISRO), outlined its achievements and future plans and said, “India’s private sector has grown substantially, with startups now demonstrating capabilities in launch vehicle and satellite manufacturing.” Somanath outlined ISRO’s achievements and future plans, noting, “India’s private sector has grown substantially, with startups now demonstrating capabilities in launch vehicle and satellite manufacturing.” He highlighted Bengaluru’s emergence as a destination for new space companies, crediting the Indian Space Policy 2023 for accelerating innovation in the sector. “Today, India’s space economy is just 2% and should increase to 10% as compared to the global space tech economy,” he said. Anne Neuberger, the United States’ deputy national security advisor, underscored the significance of international collaboration, stating, “The India-US partnership in space technologies can drive innovation in areas like earth observation, cybersecurity, and private sector investments.” She emphasised the role of private companies from both nations in advancing growth. Das discussed India’s rise as a global defence technology leader. He stated, “The defence sector presents a $138 billion opportunity in the coming years, with a target of $5 billion in exports over the next five years.” He called for closer collaboration between academia, industry, and research institutions to foster innovation. The Draft The Draft Karnataka Space Technology Policy introduces several strategic initiatives aimed at strengthening the state’s space sector and boosting its national and global presence. Skill development programs will prepare students and professionals for employment in domestic and international space companies, addressing industry needs and enhancing career readiness. Investment incentives are designed to attract both domestic and foreign investments, fostering economic growth and innovation within Karnataka’s space technology ecosystem. The policy includes plans to develop dedicated manufacturing parks and testing centres, which would provide essential infrastructure for space companies across the state. Support for startups and MSMEs will focus on promoting research, intellectual property creation, and marketing, enabling small enterprises to thrive in the space sector. Efforts to raise public awareness and adoption of space technologies will include promoting their use in governance and private industries, as well as developing digital public goods for geospatial solutions. The policy also emphasises socio-economic benefits, aiming to create revenue-linked incentives for space technology applications.Kris Gopalakrishnan, Chairman of Axilor Ventures, who anchored the session, talked about the India-US collaboration, stating, “Cooperation between the two nations will be pivotal for innovation and growth in the space sector.”
“Today, India’s space economy is just 2% and should increase to 10% as compared to the global space tech economy,” said Dr S. Somanath, chairman at ISRO.
"Today, India’s space economy is just 2% and should increase to 10% as compared to the global space tech economy,” said Dr S. Somanath, chairman at ISRO.
["Space Tech"]
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["AI", "Aim", "R", "Go", "Git", "GAN", "innovation", "startup", "programming_languages:R", "programming_languages:Go"]
An information designer who loves to learn about and try new developments in the field of tech and AI. She likes to spend her spare time reading and exploring absurdism in literature.