IN-SPACe Launches Rs 500 Crore Fund to Support Space Technology Development

The Indian National Space Promotion and Authorization Center (IN-SPACe) has introduced a Rs 500 crore Technology Adoption Fund (TAF) to facilitate the transition of early-stage space technologies into commercially viable products. The initiative, announced on February 19, aims to support private enterprises, including startups and MSMEs, in advancing their innovations.

The fund provides partial financial support, covering up to 60 percent of project costs for startups and MSMEs, and up to 40 percent for larger companies. Each project can receive up to Rs 25 crore in funding, according to IN-SPACe.

The initiative aligns with the Indian Space Policy’s objective of increasing private sector participation in space technology development. However, intellectual property developed under the scheme will require prior approval from IN-SPACe for licensing to third parties.

Proposals eligible for funding must focus on key areas such as Earth observation, navigation, communication satellites, launch vehicles, space situational awareness, human spaceflight, and ground applications.

IN-SPACe chairman Pawan K Goenka stated that the fund is intended to bridge the gap between early-stage development and commercialization, enabling companies to refine their technologies and enhance production processes.

Indian Space Association director general AK Bhatt noted that financial support at this stage is critical for startups developing new space solutions and described the fund as a step toward accelerating commercialization.