India’s TeamIndus Contends for $20-Million Lunar XPrize

Limiting state investment to 10%, Google’s Lunar XPrize aims to encourage private investment in space technology and development of low-cost systems for space exploration. Bangalore-based startup TeamIndus, the only Indian team in the Google Lunar XPRIZE competition, is building a privately funded Spacecraft capable of soft landing on the Moon by 2017. TeamIndus was one of five teams selected to compete in the Milestone prizes and successfully won $1M as a Milestone prize for its landing technology, last year, reports Tech Crunch.

Funded by over a dozen high net worth individuals, and supported by private companies such as Larsen & Toubro and Tata Communications, TeamIndus will book a Polar Satellite Launch Vehicle’s launch slot with the Indian Space and Research Organization.

Logo of TeamIndus

“TeamIndus’ mission is a celebration of all things great about India – the audacious goal, the young bright engineers, the can-do entrepreneurial spirit, partners who commit their resources, and the new breed of world-class entrepreneurs who have supported our mission – all of whom are united by a vision to deliver a best-in-class technology outcome entirely out of India,” declares the company website.

Rahul Narayan, founder of Axiom Research Labs and head of TeamIndus, says, “Our long-term vision is to become a deep-tech aerospace company which solves system level problems. GLXP is the first marquee manifestation of the kinds of problems we’d like to solve,” reports Outlook Business.

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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