IN-SPACe Floats Launches Adoption Fund To Back Spacetech Startups

The Indian National Space Promotion and Authorization Centre (IN-SPACe) has launched the Technology Adoption Fund to help spacetech startups. 

The fund will cover up to 60% of the project cost for startups and MSMEs, and 40% for larger companies, with a maximum funding of Rs 25 crore per project, according to Dr. Pawan Goenka, Chairman of IN-SPACe.

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“We have designed this fund to help innovators bridge the gap between early-stage development and commercialisation. This support will enable companies to refine their technologies, enhance production processes, and meet market demands both within India and abroad,” Dr. Pawan Goenka said.

The Technology Adoption Fund has been set up to boost space technology in India and reduce dependence on imported solutions. 

According to the agency, the fund will support new space products and intellectual property that drive research and innovation. In addition to financial help, it offers technical guidance and mentorship to assist companies with challenges during product development.

The fund is inviting non-government entities and companies to register on the IN-SPACe digital platform and showcase the commercial potential of their innovations. 

Last October, the Union Cabinet approved a Rs 1,000-crore venture capital fund for the spacetech sector under IN-SPACe, which operates as an independent agency within the Department of Space.

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