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IN-SPACE Unveils Technology Adoption Fund to Boost Spacetech Startups.

Economy Business | Dated: 24 Feb 2025

In February 2025, the Indian National Space Promotion and Authorization Centre (IN-SPACe), under the Department of Space (DoS), launched the Technology Adoption Fund (TAF) worth Rs 500 crore to financially support Indian space technology startups and enable them to develop commercially viable products while reducing dependence on imported solutions.

🎯 Key Highlights:

  • - The fund will cover up to 60% of the project cost for startups and Micro, Small, and Medium Enterprises (MSMEs) and 40% for larger companies, with a maximum funding cap of Rs 25 crore per project.
  • - It aims to bridge the gap between early-stage development and commercialization, allowing innovators to refine their technologies, enhance production methods, and meet market demands in India and globally.

💡 Other Important Facts:

  • (i) The initiative supports the development of new space products and intellectual property, fostering research and innovation in the Indian space sector.
  • (ii) In October 2024, the Union Cabinet approved a Rs 1,000 crore Venture Capital (VC) fund for the spacetech sector through IN-SPACe, a single-window, independent nodal agency operating autonomously under the DoS.

📚 Test Your Knowledge:

Recently, which organization launched the Technology Adoption Fund (TAF) to support spacetech startups?

Correct Answer: IN-SPACe

🚀 Quick Recap: