India, 5th December 2023 – T-Hub, a pioneering startup incubator in India, has unveiled its Space Tech Incubation Program under the AIC T-Hub Foundation initiative, in collaboration with the Atal Innovation Mission (AIM). This strategic move aims to nurture innovation and stimulate growth within the burgeoning SpaceTech entrepreneurial landscape in India.
The program is set to empower ten carefully selected SpaceTech firms across the country, evaluating them based on criteria such as founder experience, product innovation, and a robust business model. These startups will receive exclusive access to a wide array of resources, including grants, venture capitalists, state-of-the-art engineering laboratories, global mentors, industry experts, service providers, and the invaluable insights of seasoned SpaceTech entrepreneurs. Among the selected startups are Onnes, Nveeas Labs, Spantrik, STEM & Space, TaraMandal, and Hindustan Magnesium Products Private Limited.
Selected startups will undergo a dynamic curriculum encompassing intensive mentorship, product-market-fit, corporate connections, investor access, and go-to-market activities, all meticulously designed to accelerate their growth trajectory. The program will actively involve top founders from leading space companies such as Skyroot and Dhruva Space, dedicating their invaluable time and expertise to nurturing and mentoring the participating startups.
Mahankali Srinivas Rao, CEO of T-Hub, expressed, “The launch of our Space Tech Program marks a significant step towards building a thriving and collaborative environment for startups in this transformative industry. Our program is designed to empower SpaceTech startups by providing a robust ecosystem with unparalleled access to essential resources.”
Rajesh Adla, CEO of AIC T-Hub Foundation, added, “We are excited to introduce the Space Tech Incubation Program under the AIC T-Hub Foundation. This initiative underscores our commitment to providing a nurturing ecosystem where startups can thrive, fostering a new wave of advancements in space technology. We are excited about the possibilities this collaboration holds and the transformative impact it can have on shaping the future of the space industry in India.”
Moreover, the program adopts a collaborative approach by forming strategic partnerships with key players in the space tech ecosystem, including space agencies, investment bodies, and corporate companies. The launch event featured eminent dignitaries, including Mahankali Srinivas Rao, CEO of T-Hub, Dr. G Satheesh Reddy, Former DRDO Chairman & Former Scientific Adviser to Raksha Mantri, Ministry of Defence, Govt of India, Pawan Kumar Chandana of Skyroot Aerospace, Sanjay Nekkanti of Dhruva Space, and Hitendra Gandhi from the Government of Western Australia. Their presence underscored the program’s significance, highlighting a collaborative effort to drive innovation in India’s SpaceTech sector.