ISRO supported Six start-ups with aid of Rs 50 lakhs each

by Psu Connect
Date: 03-08-22

The Minister said that twenty-Four start-ups submitted their proposals, out of which six start-ups were selected and supported with a grant-in-aid of maximum of Rs 50 lakhs each.

ISRO supported Six start-ups with aid of Rs 50 lakhs each

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New Delhi: The National Space Organisation of India, ISRO has been supporting and helping the startups for better technology driven management and innovations.

Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh on Wednesday informed that six start-ups were selected and supported by ISRO with a grant-in-aid of a maximum of Rs 50 lakhs each in areas like geo spatial information, propulsion and Robotics/ AR/VR.

In Reply to a question in the Lok Sabha, Dr Jitendra Singh said, ISRO along with Atal Innovation Mission (AIM), NITI Aayog launched ANIC-ARISE-1.0 program that aims to seek, select, support and nurture technology-based innovations that solve sectoral challenges of national importance.

The Minister said that twenty-Four start-ups submitted their proposals, out of which six start-ups were selected and supported with a grant-in-aid of maximum of Rs 50 lakhs each.

ANIC-ARISE-1.0 has following three space sector challenges to get project proposals from start-ups: (i) geo spatial information, (ii) propulsion and (iii) Robotics/ Augmented Reality/Virtual Reality.

ANIC-ARISE-2.0 has been launched with four space sector challenges: (i) GIS solutions, (ii) Propulsion, (iii) Navigation & (iv) AI/ML modelling for space applications, seeking project proposals from start-ups in these areas.

Selected start-ups will be supported with a grant-in-aid of maximum of INR 50 lakhs each.