Dhruva Space reposted this
We are excited by the Government of India's commitment to enhancing equity support, which will instill confidence in the investment community to channel funds into India’s thriving private Space sector. The allocation of INR 1000 crore to the approved venture fund under IN-SPACe is poised to drive innovation and strengthen the entrepreneurial ecosystem across the Space industry. We hope this capital infusion will not only accelerate the ecosystem’s growth trajectory but also enhance our ability to attract additional investments, catalysing a multiplier effect for Dhruva Space’s later-stage development, particularly as we establish our 280,000 sq-ft spacecraft manufacturing facility and fulfill orders for Space missions for global customers, enabling Dhruva Space to compete on the global stage. I’d like to add that this support enables early-stage and later-stage startups to boldly innovate and pioneer next-gen products. It enables the Space sector to focus on breakthrough technologies and market expansion, allowing us to try and be ahead of the curve in the global market: Mr Sanjay Nekkanti, Co-Chair, FICCI Committee on Space & Geospatial Applications and CEO & Co-founder, Dhruva Space.