- The TAF has been created to promote the development of space technology within India while reducing the nation’s dependence on imported solutions
- 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: Dr Pawan Goenka, Chairman, IN-SPACe
- The Technology Adoption Fund is open to all eligible NGEs/companies that are ready to demonstrate the commercial potential of their innovations
- Interested parties are encouraged to register on the IN-SPACe Digital Platform (IDP) at inspace.gov.in/taf to review the Guidelines Document and to submit their applications in the prescribed format
NE BUSINESS BUREAU
AHMEDABAD, FEB 19
The Indian National Space Promotion and Authorization Centre (IN-SPACe) on Wednesday announced the launch of the Technology Adoption Fund (TAF) to nurture and support the growth of India’s space technology capabilities. This fund is designed to 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 support the transition of innovative ideas from the drawing board to a market-ready stage.
The TAF has been created to promote the development of space technology within India while reducing the nation’s dependence on imported solutions. Investing in domestic research and development, the TAF will help building a strong partnership between government bodies and the private sector and position India as a reliable global partner in the space industry.
“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 Dr 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.
The Technology Adoption Fund is open to all eligible NGEs/companies that are ready to demonstrate the commercial potential of their innovations. Interested parties are encouraged to register on the IN-SPACe Digital Platform (IDP) at www.inspace.gov.in/taf to review the Guidelines Document and to submit their applications in the prescribed format.
In addition to financial support, the initiative will provide technical guidance and mentoring opportunities, which will help 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.
