The Indian National Space Promotion and Authorisation Centre (IN-SPACe), under the Department of Space (DoS), has launched the Technology Adoption Fund (TAF) worth ₹500 crore to support early-stage space technologies and help startups convert their innovations into commercially viable products. This initiative aligns with India’s vision to promote indigenous manufacturing of critical space components, with the government providing up to 60% financial support to selected projects.
Key Features of the Technology Adoption Fund (TAF)
1.Financial Assistance:
- Startups and MSMEs: Eligible for up to 60% of project costs, with a maximum funding cap of ₹25 crore per project.
- Larger Industries: Eligible for up to 40% financial support.
2.Objective:
- To enhance domestic R&D and strengthen India’s role as a reliable global space technology partner.
- To help startups refine their technologies, improve production processes, and meet market demands in India and abroad.
3.Additional Support:
- Apart from funding, technical mentorship and guidance will be provided.
- It aims to bridge the gap from Technology Readiness Level (TRL) 3 to TRL 9, which is the most challenging phase for a space-tech startup.
4.Complementary to Other Government Initiatives:
- TAF aligns with the Ministry of Defence’s iDEX programme and the ₹1,000 crore venture capital (VC) fund to boost India’s deep-tech and space-tech ecosystem.
- It strengthens the government’s commitment to long-term R&D and risk capital investment.
5.Implementation Timeline:
- The fund will start reviewing applications from March 2025.
- Key focus areas: Satellite technology, propulsion systems, and ground station infrastructure.
Significance of TAF
- Addresses long-standing demands for a structured funding mechanism in the space sector.
- Encourages private sector participation in India’s space industry.
- Helps in liberalizing General Financial Rules (GFRs) and promoting state-assured time-bound procurement, ensuring smoother commercialisation.
About IN-SPACe
Indian National Space Promotion and Authorisation Centre (IN-SPACe) is an independent, autonomous nodal agency under the Department of Space (DoS), established to facilitate and regulate private sector participation in India’s space industry.
Key Responsibilities
- Authorizing and supervising private space activities such as satellite and launch vehicle development.
- Sharing ISRO’s space infrastructure with private companies.
- Assessing industry demands and collaborating with ISRO to accommodate private sector needs.
- Encouraging educational institutions and research organizations to participate in space-based innovations.