IN-SPACe launches Rs 500 crore technology adoption fund to boost space innovation

Picture source: IN-SPACe

Space regulator Indian National Space Promotion and Authorization Center (IN-SPACe) on February 19 launched the Technology Adoption Fund (TAF), a Rs 500 crore initiative to boost innovation and commercialisation in the space sector.

The scheme offers partial funding of up to Rs 25 crore per project, IN-SPACe said in a release. It is aimed to help private players advance space technologies from early development stages to commercially viable products.

The fund will support startups and MSMEs with up to 60 percent funding of their project cost, while large industries can receive up to 40 per cent support, IN-SPACe said.

Pawan K Goenka, chairman, IN-SPACe said, "We have designed this fund to help innovators bridge the gap between early-stage development and commercialization. This support will enable companies to refine their technologies, enhance production processes, and meet market demands both within India and abroad. Our focus is on enabling practical solutions that can be quickly integrated into the space ecosystem.”

According to IN-SPACe, the fund aligns with the Indian Space Policy’s objective of fostering private sector participation. However, any licensing of the developed IP will require prior approval from IN-SPACe.

“NGEi (Non-Government Entities in India) shall capitalize their intellectual property (IP) and commercialize their innovations by productionizing the product developed under this scheme on their own, and/or by licensing their IP to third parties,” the guidelines state.

The proposals eligible for funding should fall in key areas such as Earth observation, navigation, communication satellites, launch vehicles, space situational awareness, human spaceflight, and ground applications.

Indian Space Association director general Lt Gen (retd) AK Bhatt said, "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 start-ups to accelerate their journey from concept to commercialization We welcome this initiative."