India rolls out Rs 500-crore Technology Adoption Fund to boost space startups

Acknowledging industry demands to promote the manufacturing of critical space components within India, startups will now be able to secure 60% financial support from the government for their projects.The Indian National Space Promotion and Authorisation Centre (IN-SPACe), an arm of the Department of Space (DoS), on Wednesday, announced the Technology Adoption Fund (TAF) worth Rs 500 crore to support early-stage space technologies developed by companies into commercially viable products.

“Investing in domestic research and development, the TAF will…