Private participation in the space sector
The Government has launched the Indian Space Promotion and Authorisation Centre (IN-SPACe) to promote private investment and innovation in the space sector, Minister of State for Atomic Energy and Space Dr Jitendra Singh said in a written reply to Rajya Sabha on 22 Sept 2020.
IN-SPACe will facilitate and support the Private Sector in the following ways:
Provide technical support
Share cash intensive facilities
Allow to establish temporary facilities in DOS premises
Allow to bid for requirements coming from NSIL
Partner in science and space exploration missions
IN-SPACe is the Institutional and Regulatory mechanism established by Government to facilitate greater private participation. Financial provisions are not covered under this mechanism.
Private players can participate in:
Building satellites
Building launch vehicles
Carry out launches
Develop Applications & provide space-based services
Develop subsystem and systems for space sector activities
#space #innovation #technology #incentives #investment /fiinews.com
