Former ISRO Chiefs Push for Space Parks to Boost Startups

S. Somanath, the former Chairman of ISRO, has proposed the creation of “Space Parks” throughout India to boost the development of space-tech startups. During his address at the Global Investors’ Meet in Bengaluru, he pointed out that the government's clear policies and financial backing are key drivers for private sector engagement. Somanath urged startups to tap into opportunities in satellite manufacturing, data services, and infrastructure development, highlighting the importance of venture capital in promoting innovation. He also mentioned that improvements in IT have made data more accessible, which has lowered government costs and allowed startups to use this information for innovative solutions. This initiative aims to establish India as a global frontrunner in commercial space activities.

Source: Economic Times