Space regulator IN-SPACe announces Rs 6 crore seed fund for startups developing AI applications | India News
New Delhi: Space promoter and regulator In-Space on Wednesday announced an AI inspired seed funding scheme of Rs 6 crore for startups or individuals interested in developing AI applications in the space sector.The seed funding initiative aims to accelerate AI-driven innovation across India’s private space ecosystem through targeted financial and institutional support. Vinod Kumar, Director, Directorate of Publicity, Indian National Space Promotion and Authorization Centre, made the announcement while addressing a special session titled “Beyond Earth: How AI is Powering the Next Era of Space Exploration” at the AI Impact Summit in Delhi.talking to TOI On the sidelines of the event, Kumar said, “Nowadays, AI applications are being used in the space sector and on the ground in orbit. AI is now in every part of the space sector. Keeping this in mind, we have announced this new seed fund for any applicant who can replace any traditional method in the space sector with an AI application. We will invite applications from such individuals, startups, companies and provide grants or shortlists of five organizations. Each for such AI applications. 1 crore has been announced.Asked whether the amount of the grant would be increased, the director said, “Tk 6 crore is the initial seed fund. Tk 1 crore is enough for the application part. When a company idea is developed, we have a technology adoption fund for that purpose, where we will provide Tk 35 crore to the company. Even venture capital fund up to Tk 60 crore is available for such companies.” Last date for receipt of applications is 20th March.On how prevalent AI is in ISRO’s day-to-day operations, the INSPACe director said, “AI is being used for data analytics like threat detection, AI is being used to process data from satellites, even the humanoid robot ‘Byomitra’ built for the Gaganyaan mission is using AI. Thousands of solar cells, we use AI.” AI has infiltrated our system.“He also revealed that “a fully autonomous and advanced version of Byommitra, based on AI, will be used on the upcoming Indian space station that will arrive by 2035”.On how INSPACE is helping startups, the director said, “Currently, there are 390 space startups. We have received 850+ applications from startups in various areas of the space sector, who are seeking our help. We have designed 12 courses in the space sector. And, more than 58 colleges have added Place Application to their curriculum. Many private companies have set up their own space facilities. But where companies are not able to set up their own, INSPACe or Isro provide assistance or hand-holding.“The director said, “Both space and AI are growing sectors, and their convergence has strong potential to transform how we explore and operate in complex and remote environments through autonomous and intelligent decision-making. We are excited to see how private companies use this opportunity to develop solutions that serve national priorities in the long term.”
