IN-SPACe Launches ₹500 Crore ‘Technology Adoption Fund’ to Accelerate India’s Space Sector
The Indian National Space Promotion and Authorization Centre (IN-SPACe) has launched the Technology Adoption Fund (TAF) to support the growth of India’s space technology capabilities, with a total funding of ₹500 crore. The fund aims to transition early-stage space technologies developed by Indian companies into commercially viable products, reducing the nation’s dependence on imported solutions. The TAF will provide financial support to non-government entities (NGEs) to help innovative ideas progress from the conceptual stage to market-ready products. “The fund will offer financial support of up to 60% of the project cost for startups and MSMEs, and 40% for larger industries, with a maximum funding cap of INR 25 Cr per project,” said Pawan Goenka, chairman of IN-SPACe. IN-SPACe expects TAF to foster various outcomes, including creating new space products and intellectual property. This support will enable companies to refine their technologies, enhance production processes, and meet market demands in India and abroad. “We have designed this fund to help innovators bridge the gap between early-stage development and commercialisation. We focus on enabling practical solutions that can be quickly integrated into the space ecosystem,” he added. By funding projects with commercial potential, IN-SPACe aims to strengthen India’s position in the global space sector, promote advanced space technologies, contribute to job creation, and stimulate economic growth. The Technology Adoption Fund is available to all eligible NGEs and companies ready to demonstrate the commercial potential of their innovations. In addition to financial support, the initiative offers technical guidance and mentoring to help companies navigate product development challenges. This ensures that innovative ideas are protected, refined, and efficiently brought to market. Recently, at the Invest Karnataka 2025 panel discussion on the ‘Future of Commercial Space’, leaders acknowledged Bengaluru’s leadership in space innovation but also pointed out that the city lags behind in producing a fully integrated communication satellite. “There are small satellite-building companies, but I hope to see a four-tonne or six-tonne class communication satellite built by an Indian company and launched from Bengaluru,” former ISRO chairman S. Somanath had said. In the Union Budget 2025, announced on February 1st, the government allocated ₹20,000 crore for private-sector driven R&D, along with announcing a deep tech fund aimed at catalysing the next generation of Indian startups.
The fund will offer financial support of up to 60% of the project cost for startups and MSMEs.
The fund will offer financial support of up to 60% of the project cost for startups and MSMEs.
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["AI", "Aim", "R", "Go", "innovation", "startup", "funding", "programming_languages:R", "programming_languages:Go"]
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