RT team
The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has unveiled a ₹500-crore Technology Adoption Fund (TAF) to support startups and MSMEs in India’s space technology sector. This initiative aims to help these firms transition innovative concepts into commercially viable products, reducing reliance on imports and fostering domestic space advancements.
The TAF will provide partial funding to non-government entities (NGEs), covering up to 60% of project costs for startups and MSMEs and 40% for larger industries, with a maximum allocation of ₹25 crore per project. The goal is to bridge the gap between early-stage development and commercialization, enabling companies to refine technologies, improve production processes, and meet global market demands.
Chairman Pawan Goenka emphasized the fund’s role in building strong public-private partnerships and positioning India as a reliable global space partner. Additionally, it aims to foster intellectual property creation and advanced technological solutions, contributing to job creation and economic growth.
Director General of the Indian Space Association (ISpA), AK Bhatt, lauded the initiative, highlighting its significance in empowering startups to transform innovative ideas into market-ready solutions.
Beyond financial aid, the program offers technical guidance and mentorship, ensuring that projects navigate development challenges efficiently. Open to eligible companies, this comprehensive support framework underscores India’s commitment to strengthening its global space sector leadership and driving innovation in the industry.
TAF marks a pivotal step in accelerating India’s progress in the global space race by nurturing its dynamic private sector and entrepreneurial ecosystem.
