Space regulator IN-SPACe launches tech fund to accelerate startups’ growth | India News – The Times of India
NEW DELHI: Space regulator and promoter Indian National Space Promotion and Authorization Centre (IN-SPACe) on Wednesday announced the launch of Technology Adoption Fund (TAF) to nurture and support the growth of India’s space technology capabilities. The fund is designed to support the transition of early-stage space technologies developed by Indian companies into commercially-viable products.
By providing partial funding to non-government entities, TAF will support the transition of innovative ideas from the drawing board to a market-ready stage. TAF has been created to promote the development of space technology within India while reducing the nation’s dependence on imported solutions. Investing in domestic research and development, TAF will help build a strong partnership between govt bodies and the private sector and position India as a reliable global partner in the space industry.
“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 Rs 25 crore per project,” said IN-SPACe chairman Pawan Goenka. “We have designed this fund to help innovators bridge the gap between early-stage development and commercialisation. This support will enable companies to refine their technologies, enhance production processes, and meet market demands both within India and abroad. Our focus is on enabling practical solutions that can be quickly integrated into the space ecosystem”, he said.
With TAF, IN-SPACe aims to support a wide range of outcomes—from the development of new space products to the creation of intellectual property that can drive future research and development.
TAF is open to all eligible NGEs/companies that are ready to demonstrate the commercial potential of their innovations. Interested parties are encouraged to register on the IN-SPACe digital platform to review guidelines documents and to submit their applications in the prescribed format.
Industry representative Indian Space Association (ISpA) called it a big step. ISpA director general, Lt Gen AK Bhatt (retd) said, “With India reaffirming its role in the global space race, private space companies and startups are playing a pivotal role in driving innovation and technological advancements in the sector… The launch of this forward-looking fund by IN-SPACe today is a major step toward enabling start-ups to accelerate their journey from concept to commercialisation. We welcome this initiative.”
NEW DELHI: Space regulator and promoter Indian National Space Promotion and Authorization Centre (IN-SPACe) on Wednesday announced the launch of Technology Adoption Fund (TAF) to nurture and support the growth of India’s space technology capabilities. The fund is designed to support the transition of early-stage space technologies developed by Indian companies into commercially-viable products.
By providing partial funding to non-government entities, TAF will support the transition of innovative ideas from the drawing board to a market-ready stage. TAF has been created to promote the development of space technology within India while reducing the nation’s dependence on imported solutions. Investing in domestic research and development, TAF will help build a strong partnership between govt bodies and the private sector and position India as a reliable global partner in the space industry.
“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 Rs 25 crore per project,” said IN-SPACe chairman Pawan Goenka. “We have designed this fund to help innovators bridge the gap between early-stage development and commercialisation. This support will enable companies to refine their technologies, enhance production processes, and meet market demands both within India and abroad. Our focus is on enabling practical solutions that can be quickly integrated into the space ecosystem”, he said.
With TAF, IN-SPACe aims to support a wide range of outcomes—from the development of new space products to the creation of intellectual property that can drive future research and development.
TAF is open to all eligible NGEs/companies that are ready to demonstrate the commercial potential of their innovations. Interested parties are encouraged to register on the IN-SPACe digital platform to review guidelines documents and to submit their applications in the prescribed format.
Industry representative Indian Space Association (ISpA) called it a big step. ISpA director general, Lt Gen AK Bhatt (retd) said, “With India reaffirming its role in the global space race, private space companies and startups are playing a pivotal role in driving innovation and technological advancements in the sector… The launch of this forward-looking fund by IN-SPACe today is a major step toward enabling start-ups to accelerate their journey from concept to commercialisation. We welcome this initiative.”
var s = document.createElement('script'); s.src="https://survey.survicate.com/workspaces/0be6ae9845d14a7c8ff08a7a00bd9b21/web_surveys.js"; s.async = true; var e = document.getElementsByTagName('script')[0]; e.parentNode.insertBefore(s, e); })(window); }
}
window.TimesApps = window.TimesApps || {}; var TimesApps = window.TimesApps; TimesApps.toiPlusEvents = function(config) { var isConfigAvailable = "toiplus_site_settings" in f && "isFBCampaignActive" in f.toiplus_site_settings && "isGoogleCampaignActive" in f.toiplus_site_settings; var isPrimeUser = window.isPrime; var isPrimeUserLayout = window.isPrimeUserLayout; if (isConfigAvailable && !isPrimeUser) { loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive); loadFBEvents(f.toiplus_site_settings.isFBCampaignActive); loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections); } else { var JarvisUrl="https://jarvis.indiatimes.com/v1/feeds/toi_plus/site_settings/643526e21443833f0c454615?db_env=published"; window.getFromClient(JarvisUrl, function(config){ if (config) { const allowedSectionSuricate = (isPrimeUserLayout) ? config?.allowedSurvicatePrimeSections : config?.allowedSurvicateSections loadGtagEvents(config?.isGoogleCampaignActive); loadFBEvents(config?.isFBCampaignActive); loadSurvicateJs(allowedSectionSuricate); } }) } }; })( window, document, 'script', );
