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Seed Fund Scheme

Seed Fund Scheme

Context:- The Indian National Space Promotion and Authorization Centre (IN-SPACe) has initiated a seed fund program. This aims to support startups engage in urban development and disaster management utilizing space technology.

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About the Seed Fund Scheme

The scheme provides seed funding to selected startups to develop their original concepts into prototypes using space technology. Additionally, startups will receive support from ISRO facilities, mentorship, and access to data algorithms. This will also include Earth Observation (EO) data for validation. The program offers financial aid of up to Rs 1 crore.

Key Features of the Seed Fund Scheme

  • Seed Funding: Startups will receive up to Rs 1 crore in financial aid along with training, networking opportunities, and mentorship support.
  • ISRO Facility Support: Selected startups will benefit from ISRO facility support, including access to Earth Observation (EO) data for concept validation.
  • Mentorship Support: The scheme includes mentorship to assist startups throughout their development journey.
  • Data Algorithm Access: Startups will have access to data algorithms as a technology transfer from the Department of Science (DoS).
  • IN-SPACe’s Role: IN-SPACe, is the nodal agency in Department of Science. It plays a pivotal role in promoting, enabling, authorizing, and supervising space activities of Non-Government Entities (NGEs).
  • Graduation Opportunities: The scheme aims to facilitate NGEs leveraging space technology for societal benefits to progress to the next level.

Focus Areas

Urban Development:

Startups have abundant opportunities in various sectors including urban planning, monitoring, and infrastructure management. Additionally, fields such as telecommunication, navigation, and broadband connectivity offer potential avenues. Moreover, there are prospects in water resources management, energy efficiency, climate and weather monitoring, disaster risk reduction, as well as public health and healthcare for these startups.

Disaster Management:

Startups specializing in geographical information systems (GIS), early warning and monitoring systems, and search and rescue operations have ample opportunities. These sectors offer promising avenues for innovation and growth.

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