New Delhi: On February 19, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) announced a ₹500-crore Technology Adoption Fund (TAF), a corpus which will support space technology firms, especially startups and MSMEs, in developing commercially-viable products.
The TAF has been created to promote the development of space technology within India while reducing the nation’s dependence on imported solutions. The TAF, by providing partial funding to non-government entities (NGEs) will support the transition of innovative ideas from the drawing board to a market-ready stage. Investing in domestic research and development, the TAF will help build a strong partnership between government bodies and the private sector and position India as a reliable global partner in the space industry.
Pawan Goenka, Chairman, IN-SPACe, said, “The fund will offer financial support of up to 60 per cent of the project cost for startups and MSMEs, and 40 per cent for larger industries, with a maximum funding cap of ₹25 crore per project.”
He added, “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.”
IN-SPACe with TAF, 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. The fund will help promote advanced space technologies and contribute to job creation along with economic growth. By funding projects that have the potential to become commercial successes, IN-SPACe is taking concrete steps toward strengthening India’s position in the global space sector.
The Technology Adoption Fund is open to all eligible NGEs/companies that are ready to demonstrate the commercial potential of their innovations.
AK Bhatt, Director General, Indian Space Association (ISpA), 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. We are witnessing a surge of pioneering startups developing ground-breaking solutions for the space industry. But to turn these concepts into practical products that can be offered to a new marketplace, there must be sufficient funding, especially from government institutions at this specific stage.”
“ The launch of this forward-looking fund by IN-SPACe today is a major step toward enabling startups to accelerate their journey from concept to commercialisation. We welcome this initiative,” he added.
The initiative, in addition to financial support, will provide technical guidance and mentoring opportunities, which will help companies navigate challenges during the product development phase. This comprehensive support framework is intended to ensure that innovative ideas are not only protected and refined but also brought to market efficiently.
