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Bengaluru, June 17, 2024: Recognizing the rising interest in space exploration among young entrepreneurs, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) has launched the Pre-Incubation Entrepreneurship (PIE) Development Program, a pioneering initiative designed to support and nurture early-stage space startups. The PIE Development program will cultivate and empower the next generation of space tech innovators, providing them with the tools and guidance necessary to transform their space dreams into reality.
The 21-month program will guide aspiring entrepreneurs through a comprehensive journey divided into distinct phases of ideation, innovation, and prototype development. The program will ensure that budding entrepreneurs receive structured support at each critical stage of development.
Dr. Pawan Goenka, Chairman of IN-SPACe, emphasized the importance of this initiative: “India’s space sector is poised for exponential growth, and young entrepreneurs are crucial to driving this expansion. The PIE program will provide them with a launchpad, equipping them not only with technical expertise but also with the business acumen needed to navigate the complexities of the space industry. The early-stage support will help to unlock the potential of innovative minds and contribute to India’s leadership in the global space industry.”
The PIE Development Program will help young entrepreneurs transform their innovative ideas into prototypes by fostering a collaborative learning environment giving participants an opportunity to connect with and learn from seasoned mentors, handpicked from leading research institutions, incubators, academia, and prominent space industry players. This direct access to industry veterans and subject matter experts will provide invaluable insights, feedback, and networking opportunities. It will inculcate a culture of innovation in entrepreneurs, propelling scientific advancements that generate socio-economic benefits, contribute to broader economic development and create new job opportunities in India’s space sector.
As per guidelines of the program, applicants must be Indian citizens graduating in 2024 or already graduates, they should not have received any grants, funding, or monetary support from private or government schemes and all submissions must be original work to qualify for this program. Start-ups registered with the Department for Promotion of Industry and Internal Trade (DPIIT) on or after July 1, 2022, are classified as early-stage start-ups.
This program will target students in technical courses or those with a strong interest in space technology, expected to graduate in 2024, or pursuing Master’s or Doctorate programs and early-stage start-ups focusing on space technologies and aiming to develop entrepreneurial ventures.
IN-SPACe invites aspiring space entrepreneurs and early-stage start-ups to apply for the PIE Development Program. This is a unique opportunity to be part of a transformative journey, gaining access to unparalleled resources, mentorship, and a platform to showcase their innovations. For more information and application details, please visit www.inspace.gov.in