IN-SPACe Launches Technology Adoption Fund to Propel Space Startups
NEW DELHI: The Indian National Space Promotion and Authorization Centre (IN-SPACe) has recently unveiled the Technology Adoption Fund (TAF), aimed at nurturing and advancing India’s space technology capabilities. This initiative is set to support the commercial transition of groundbreaking space technologies developed by Indian companies.
Funding Structure for Startups and MSMEs
The TAF will provide financial assistance of up to 60% of the project cost for startups and MSMEs, and 40% for larger industries, with a maximum funding limit of Rs 25 crore per project. According to IN-SPACe chairman Pawan Goenka, “This fund is designed to help innovators bridge the gap between early-stage development and commercialization.” The focus is on empowering companies to refine their technologies, enhance production processes, and cater to market demands both domestically and internationally.
Encouraging Innovation and Collaboration
With TAF, IN-SPACe aims to foster a wide array of outcomes—from the creation of new space products to the development of intellectual property that can fuel future research and advancements. This initiative is open to all eligible non-government entities (NGEs) ready to demonstrate the commercial viability of their innovations. Interested parties are encouraged to register on the IN-SPACe digital platform to access guidelines and submit applications in the required format.
Industry Response to TAF
The Indian Space Association (ISpA) has hailed the launch of TAF as a significant milestone. ISpA director general, Lt Gen AK Bhatt (retd), stated, “With India reaffirming its role in the global space race, this fund is a major step toward enabling start-ups to accelerate their journey from concept to commercialization.”
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