Pawan Goenka-led IN-SPACe unveils ₹25 crore Technology Adoption Fund to propel India's space startups

The Indian National Space Promotion and Authorization Centre (IN-SPACe) has launched a Technology Adoption Fund (TAF) to nurture the growth of India’s space technology capabilities. The fund will support the transition of early-stage space technologies developed by Indian companies into commercially viable products. By providing partial funding to Non-Government Entities (NGEs), the TAF will aid the transition of innovative ideas from the drawing board to a market-ready stage.

“The fund will 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 ₹25 crores per project,” said Pawan Goenka, Chairman, IN-SPACe. “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,” he added.

With TAF, IN-SPACe aims to support a wide range of outcomes—from the development of new space products to the creation of intellectual property that can drive future research and development. The fund will help promote advanced space technologies and contribute to job creation along with economic growth. By funding projects that have the potential to become commercial successes, IN-SPACe is taking concrete steps toward strengthening India’s position in the global space sector, an official statement said.

“The launch of this forward-looking fund by IN-SPACe today is a major step toward enabling startups to accelerate their journey from concept to commercialisation. We welcome this initiative,” said Lt. Gen. AK Bhatt (Retd.), Director General, Indian Space Association (ISpA). “With India reaffirming its role in the global space race, private space companies and startups are playing a pivotal role in driving innovation and technological advancements in the sector. 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,” he added.

The Technology Adoption Fund is open to all eligible NGEs/companies that are ready to demonstrate the commercial potential of their innovations. In addition to financial support, the initiative will provide technical guidance and mentoring opportunities, helping companies navigate challenges during the product development phase. This comprehensive support framework is intended to ensure that innovative ideas are not only protected and refined but also brought to market efficiently.