Amazon Web Services (AWS) has launched an accelerator programme to foster early-stage and mature startups in the spacetech sector and to boost their development with support from Telangana’s startup incubator T-Hub and Minfy.
Under the programme, T-Hub will help startups with insights into business establishment, fundraising strategies and pitch presentations, AWS said in a statement.
Meanwhile, Minfy’s technical experts will run a host of sessions on foundational AWS knowledge and advanced cloud architecture.
AWS will select the startups based on their innovation skills, product-market fit, the value that they can bring to spacetech innovation and space sustainability, creative application of AWS technology to solve problems and the team’s ability to deliver on the identified opportunity.
“The launch of AWS’s first space accelerator for India-based startups directly supports our commitment to the Indian space industry through our MoU with ISRO, and IN-SPACe, announced last year. India has world-class talent in the space sector, and we look forward to collaborating with ISRO, IN-SPACe, T-Hub and Minfy through this initiative to nurture space-tech innovation in the country,” said AWS India’s director and chief technologist Shalini Kapoor.
The company’s aerospace and satellite director Clint Crosier said that for the future of spacetech startups, cloud computing is going to be crucial.
He added that cloud computin enables spacetech startups 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.
In September last year, the company inked a memorandum of understanding (MoU) with Indian Space Research Organization (ISRO) and Indian National Space Promotion and Authorization Centre (IN-SPACe) to support spacetech innovations through cloud computing.
It was aimed at offering the Indian spacetech startups with facilities such as research institutes and students with access to cutting-edge cloud technologies that accelerate the development of new solutions in the space sector.
According to Inc42’s Indian Spacetech Startup Landscape & Market Opportunity Report 2023, the sector is estimated to reach $77 Bn by 2030 at a 26% CAGR.