In an effort to advance India’s space technology sector, the Indian National Space Promotion and Authorization Centre (IN-SPACe) has unveiled the Technology Adoption Fund (TAF). This fund is designed to support early-stage space technologies developed by Indian companies, helping them transition from conceptual stages to commercially viable products.
The TAF aims to reduce India’s reliance on imported space solutions by nurturing the growth of domestic research and development (R&D). The initiative will also foster a strong partnership between the government and the private sector, positioning India as a global leader in the space industry.
Dr Pawan Goenka, Chairman of IN-SPACe, explained, “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 Crores per project.”
The Technology Adoption Fund is designed to assist Indian companies in refining their space technologies, improving production processes, and meeting the increasing market demands, both domestically and internationally. The TAF will support a wide range of outcomes from the development of cutting-edge space products to the creation of intellectual property that can drive future innovation. By doing so, the fund is expected to contribute not only to technological advancement but also to job creation and economic growth within the space sector.
IN-SPACe’s goal is to provide funding that will help bridge the gap between early-stage development and commercialization. This will enable startups to accelerate their product development and refine their technologies, ensuring that they are market-ready. The initiative is open to all eligible Non-Government Entities (NGEs) that can demonstrate the commercial potential of their innovations.
In addition to financial backing, the TAF will also provide technical guidance and mentoring opportunities to participating companies. These support systems are crucial for overcoming challenges in product development and ensuring that innovative ideas can be successfully brought to market.
The Indian Space Association (ISpA), which represents private space companies in India, lauded the initiative for its timely support of the growing space sector. Lt Gen AK Bhatt (retd.), Director General of ISpA, commented, “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.”
Welcoming the fund, he added, “We are witnessing a surge of pioneering startups developing groundbreaking 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 commercialization.”
With the TAF in place, India’s space technology ecosystem is poised for a leap forward. The fund’s efforts will help bridge critical gaps in technological development and accelerate India’s path toward becoming a key player in the global space race. Through these efforts, IN-SPACe is not only fostering innovation but also contributing to the strengthening of India’s technological and economic position on the world stage.
