SpaceTech Innovation Network (SpIN)

In News

• Recently, The Indian Space Research Organisation (ISRO) signed an MoU with Social Alpha to launch SpaceTech Innovation Network (SpIN).

More about the news

• About Social Alpha:
  • Social Alpha is a multistage innovation curation and venture development platform for science and technology start-ups.
• About SpIN:
  • Space entrepreneurship:
    • SpIN is India’s first dedicated platform for innovation, curation, and venture development for the burgeoning space entrepreneurial ecosystem.
  • Public-private collaboration:
    • 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.
  • SpIN will primarily focus on facilitating space tech entrepreneurs in three distinct innovation categories: 
    • Geospatial Technologies and Downstream Applications; 
    • Enabling Technologies for Space & Mobility; and 
    • Aerospace Materials, Sensors, and Avionics.
• Significance of SpIN:
  • Shaping policies:
    • This novel partnership is a significant step forward in providing further stimulus to India’s recent space reform policies. 
  • Creating market potential & ecosystem:
    • It will work towards identifying and unleashing the market potential of the most promising space tech innovators and entrepreneurs in India.
    • The SPIN platform is also expected to create a level playing field for various stakeholders to collaborate and contribute to the space ecosystem in the country.
• SpIN innovation challenge:
  • In line with the partnership announcement, SpIN has launched its first innovation challenge. 
  • Areas of innovation: 
    • 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.
  • Significance of the innovation challenge:
    • 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.

Source: TH