IN-SPACe launches Technology Adoption Fund to boost India's space sector

The Indian National Space Promotion and Authorization Centre (IN-SPACe) has introduced a new Rs 500 crore Technology Adoption Fund (TAF) designed to propel India’s space industry by converting early-stage innovations from local companies into viable commercial products.

The fund, intended for non-government entities (NGEs), will provide partial financial support for projects and offers an alternative to imported space technology solutions.

Offering financial support of up to 60% of the project cost

Explaining the fund’s structure, IN-SPACe Chairman Dr Pawan Goenka said that the fund would 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 crore per project. 

"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," Goenka added.

Aiming to cover a broad range of technologies

IN-SPACe, which oversees private sector participation in India’s space programs, envisions the TAF as a catalyst for boosting the country’s domestic research and development capabilities. By emphasizing Indian-made solutions, it hopes to position the nation as a reliable global partner.

The agency aims for the fund to cover a broad range of technologies, from new products to intellectual property that could spur further research, all of which align with India’s aspirations for rapid growth in the global space market.

“The Technology Adoption Fund is open to all eligible NGEs/companies that are ready to demonstrate the commercial potential of their innovations,” the agency said in a statement.

Prospective applicants can visit the IN-SPACe Digital Platform at www.inspace.gov.in/taf for information on guidelines and to submit proposals.

The TAF is expected to start reviewing applications from March 2025, focusing on key areas including satellite technology, propulsion systems, and ground station infrastructure, IN-SPACe said in a statement.

Notably, The TAF launch also comes with additional perks: recipients will have access to mentoring and technical consultation to aid in product development and market rollout, reducing the lag often seen between concept and commercialization.

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."