Seven Indian startups have been selected for a unique India-US space and defence collaboration programme, opening up a promising market for Indian companies, an investor involved in the project told Reuters on Friday.
The startups, including space imaging company KaleidEO, rocket makers EtherealX, and AI-driven Shyam VNL, will participate in a programme aimed at advancing defence and dual-use technologies.
The initiative, launched in September 2024 by Indian investor Indusbridge Ventures and US-based FedTech, will offer the selected companies access to the US Defense Innovation Unit, the Department of Defense, and other government agencies to explore satellite observation and emerging space and defence technologies.
Rahul Devjani, Managing Partner at Indusbridge Ventures, stated, “This programme offers valuable resources, mentorship, and essential connections with industry leaders in the US and we look forward to partnering with FedTech on this initiative to accelerate private-sector partnership between the two countries in strategic sectors – defence and dual-use technology.”
The Indian startups will have the chance to engage with major US defence players such as Northrop Grumman, Lockheed Martin, and RTX (formerly Raytheon).
These collaborations could provide them with a competitive edge in the US market, valued at approximately $1.5 billion annually.
The access to the US defence and space sector – the largest in the world – could potentially generate annual revenues ranging from $500 million to $1 billion for the Indian firms, according to sources close to the startups.
This programme comes as part of growing bilateral cooperation between India and the US in the space and defence fields.
Earlier this month, Indian National Security Advisor Ajit Doval and his US counterpart Jake Sullivan discussed further collaboration on space technology and accelerating the adoption of cutting-edge commercial technologies for military solutions.
The specifics of the programme and the selected projects are still under discussion, with more details likely to unveiled in the coming months.
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