Rs 1,000 crore earmarked for venture fund for space start-ups: Jitendra Singh
On 6 October 2024, in India, Union Minister Dr Jitendra Singh said Rs 1,000 crore has been earmarked for a Venture Fund for space start-ups, and that the sector now has over 200 start-ups.
Summary
On 6 October 2024, in India, Union Minister of State (Independent Charge) for Science and Technology and MoS for the Department of Space Dr Jitendra Singh said Rs 1,000 crore has been earmarked for a Venture Fund for space start-ups, a decision taken within the first 100 days of the government's third term. He said that since the space sector was opened to private players about four years ago, with NSIL as a new PSU and IN-SPACe as the interface with the private sector, space start-ups have grown from a single digit to over 200. He referred to Vikram-S as India's first private rocket.
Key facts
- Date
- 6 Oct 2024
- Fund
- Rs 1,000 crore Venture Fund for space start-ups
- Space start-ups
- From single digit to 200+
- Interface with private sector
- IN-SPACe
- First private rocket
- Vikram-S
Practice MCQs 3 questions
According to Dr Jitendra Singh on 6 October 2024, how much has been earmarked for a Venture Fund for space start-ups?
Show answer
Correct answer: C — Rs 1,000 crore
PIB (6 Oct 2024): Rupees 1,000 crore has been earmarked for Venture Fund to Space StartUps, said Dr Jitendra Singh.
As per Dr Jitendra Singh in October 2024, India's space sector now has about how many start-ups?
Show answer
Correct answer: A — 200 plus
PIB (6 Oct 2024): 'From one digit we are now 200 plus StartUps in Space sector.'
Which rocket did Dr Jitendra Singh refer to as India's first private rocket?
Show answer
Correct answer: D — Vikram-S
PIB (6 Oct 2024): he referred to India's first private Rocket, Vikram-S.