February 20, 2025: Technology Adoption Fund has announced a Rs. 500 Cr Fund to assist startups in the spacetech sector. Launched by IN-SPACe ( The Indian National Space Promotion and Authorization Centre) the fund will offer financial assistance covering up to 60% of the project cost for startups and MSMEs, and 40% for larger companies, with a maximum funding limit of Rs 25 crore per project, according to Dr Pawan Goenka, Chairman, IN-SPACe.
“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,” Goenka added.
IN-SPACe Fund Fast Track Space Tech Sector
The fund has been introduced to augment the growth of space technology in India and decrease reliance on imported solutions, the nodal agency stated, adding that, through this initiative, it aims to support various advancements, including the development of new space products and intellectual property that will fuel research and innovation.
Beyond financial support, the initiative offers technical guidance and mentoring to help companies overcome challenges during product development. The new fund has invited eligible non-government entities and companies to demonstrate the commercial potential of their innovations by registering on the IN-SPACe digital platform.
In October 2024, the Union Cabinet approved a Rs 1,000-crore venture capital fund for the spacetech sector under the aegis of IN-SPACe, a single-window, independent nodal agency that functions autonomously within the Department of Space.
IN-SPACe is tasked with promoting, facilitating, authorizing, and overseeing various space-related activities undertaken by Non-Governmental Entities (NGEs). Its responsibilities include supporting the development of launch vehicles and satellites, enabling space-based services, granting access to space infrastructure managed by DOS/ISRO, and fostering the creation of new space facilities and infrastructure.
India’s space program has evolved over more than five decades with a strong emphasis on application-driven initiatives, aiming to make space technology accessible for public benefit. As a result, it has emerged as one of the world’s six largest space agencies. ISRO operates an extensive fleet of geostationary (GEO) communication satellites and low Earth orbit (LEO) remote sensing satellites, meeting the increasing demand for high-speed communication and advanced earth observation capabilities.
The organization operates through three key directorates: the Promotion Directorate (PD), which drives industry engagement; the Technical Directorate (TD), which ensures technical excellence; and the Program Management and Authorization Directorate (PMAD), which oversees project execution and regulatory approvals.
IN-SPACe encourages private sector involvement in space activities, strengthen the domestic space economy, and advance space technology frontiers, contributing to a self-reliant and progressive AatmaNirbhar Bharat (आत्मनिर्भर भारत).
