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A three-day international space conclave titled 'Space Technology: The Next Business Frontier' will focus on entrepreneurship and networking in the space industry.

The space conclave organised by the US Consulate General, Chennai, and hosted by the Indian Institute of Technology, Madras (IIT- Madras), and the Indian Space Association (ISpA) will explore the ways to optimise business opportunities and collaboration across the Indo-Pacific region and beyond.

The three-day conclave from October 15-17 has 80 participants drawn from several Indo-Pacific nations, including India, the US, Japan, Australia, New Zealand, Singapore, South Korea, Germany, the UK, the Philippines, Malaysia and Indonesia.

In the inaugural session of the conclave, Drew Schufletowski, Minister Counselor for Economic, Environment, Science and Technology Affairs, US Embassy, New Delhi, said, "The greatest growth potential in our space relationship, and those of other Indo-Pacific partners, involve the private sector. India's space sector is undergoing a transformation with private companies taking on a more influential role in both design and production of launch vehicles, satellites, ground stations, and other elements at the heart of space exploration and applications."

Schufletowski added, "Indian firms are now building their own satellite constellations for earth observation and designing small launch vehicles to place them into low-Earth orbit. This is where space companies in the United States and across the Indo-Pacific can enhance this commercial sector momentum, through partnerships in trade, investment, and technological collaboration."

The three-day conclave will discuss the core themes of space policy, scientific research and development, and space entrepreneurship. The conclave aims to establish the Association of Space Entrepreneurs in the Indo-Pacific (ASEIP), a networking and lobbying platform focused on innovation and entrepreneurship in the space sector.

The stakeholders will recommend a future roadmap to promote international aerospace business and scientific space collaborations.

Satya Chakravarthy, professor of aerospace engineering and director of the National Centre for Combustion Research and Development (NCCRD) at IIT-Madras, delivered the inaugural address.