Amazon Web Services (AWS) India Private Limited has launched its first accelerator programme called AWS Space Accelerator: India.
The Indian arm of Amazon said that the programme will provide a technical, business, and mentorship opportunity to start-ups to foster innovation in space technology with the support from T-Hub, and Minfy.
AWS’s accelerator programme is launched following the MoU it signed with ISRO and IN-SPACe in September last year, which envisions nurturing start-ups in space-tech, and supporting innovation in the sector.
The 14-week accelerator programme will provide India-based start-ups with dedicated business resources, expertise, and guidance around technology and business capabilities, and help them leverage AWS to build, grow, and scale their missions.
The programme is open to both early-stage and mature start-ups based in India whose missions support the space sector, who need a technology platform for their ideas, and who are looking to accelerate their growth and investment opportunities. Interested start-ups can learn more and register at this link by March 17th, 2024.
Start-ups qualifying for the programme can receive an array of benefits, including: up to $100,000 in AWS credits, as well as guidance from experts at ISRO, IN-SPACe, and AWS, and business and technology support from T-Hub and Minfy, an AWS Premier Partner, the company said in a press statement.
Start-ups will learn about space domain technologies and applications, and how to leverage space data and build scalable solutions using cloud computing, data analytics, and machine learning, including the potential to apply generative artificial intelligence (AI), the statement further added.
Applications for the AWS Space Accelerator: India program are now open for submission.
“Cloud computing is crucial to power the future of the space industry. It enables space-tech start-ups to harness high-performance computing resources to perform intensive data analysis, apply machine learning models, and innovate in their missions while achieving lower cost of operations, faster time-to-market, and deployment at scale,” said Clint Crosier, director, Aerospace and Satellite, AWS Inc.
“The launch of AWS’s first space accelerator for India-based start-ups directly supports our commitment to the Indian space industry through our MoU with ISRO, and IN-SPACe, announced last year,” said Shalini Kapoor, director and chief technologist, Public Sector, AWS India Private Limited.
Tracxn which provides data insights said in its latest report that the spacetech sector which used to be dominated by the government players, has witnessed a significant surge in private sector participation.
From raising a modest $35 million between 2010 and 2019, the sector experienced a meteoric rise in 2020, securing a remarkable $28 million in funding. This trend continued, reaching $96 million in 2021 and an impressive $112 million in 2022, marking a 17 per cent increase from the previous year.
The Indian spacetech sector has already attracted $62 million in funding for the year 2023, reflecting a substantial 60 per cent increase compared to the same period last year, the firm added.