The Indian National Space Promotion and Authorization Centre (IN-SPACe) has rolled out the Technology Adoption Fund (TAF) worth INR 500 Cr to financially support the nation’s space technology startups and enable them to build commercially viable products while reducing dependence on imported solutions.

Key Points

• IN-SPACe launched INR 500 Cr Technology Adoption Fund to support spacetech startups with funding up to INR 25 Cr per project
• The fund will cover 60% of project costs for startups/MSMEs and 40% for larger industries, focusing on satellite technology, propulsion systems and ground station infrastructure
• The initiative follows the government's INR 1,000 Cr VC fund announcement and comes amid rising spacetech investments, which crossed $100 Mn annually