In February 2018, SpaceX announced that they would be launching two tourists into space this year – in a rocket designed to go past the moon! This is the latest in a series of space-related announcements that have captured the interest of the public.
However, while most private space companies are based out of America and Europe, is there any future for Indian companies in the industry? After all, the space market is going to be worth nearly $3 trillion in 30 years, according to the Bank of America.
We talk to Ankit Bhateja, founder of Indian space startup Xovian Technologies, about his personal experiences in the space industry and the future of Indian space startups in general.
One of the major takeaways from his interview is the difficulty in convincing investors to fund space startups. Because of the complicated nature of profit-making, and the long-term goals that include years and millions of dollars in research, most Indian investors prefer to bet on short term winners.
However, Xovian Technologies is an exception to the rule. A bootstrapped firm that has investors chasing their products, Bhateja and his co-founder started their company by initially building a fully-functioning satellite in a soda can for a competition in an American college. Since then, they have moved back to India to promote space research to indigenous students, as well as start their own company.
You can also listen to this episode of Startup Stars in podcast format here.