The Indian government has introduced the Technology Adoption Fund (TAF), valued at Rs 500 crore, to help space startups and MSMEs scale their innovations.
In addition to this, the fund, announced by the Indian National Space Promotion and Authorisation Centre (IN-SPACe), aims to foster the development of domestically manufactured space components and technologies.
By doing so, it supports the growth of India’s space industry, positioning the country as a key global player in space innovation.
The TAF will provide startups and MSMEs with up to 60% financial support for their projects, with a maximum funding cap of Rs 25 crore per project.
Larger industries will receive 40% support. The fund is designed to help companies refine technologies, improve production processes, and meet both domestic and international market demands.
Space startups have welcomed the government’s initiative, noting that it complements existing programs like the Ministry of Defence’s iDEX and the Rs 1,000 crore venture capital fund.
Apurwa Masook, CEO of Bengaluru-based startup SpaceFields, emphasized the fund’s role in boosting the country’s deep-tech and space-tech landscape, while also highlighting the importance of the long-pending space activities bill.
TAF will help startups advance their technologies from Technology Readiness Level (TRL) 3 to TRL 9, an essential phase in space product development.
This transition is crucial for moving from theoretical concepts to fully operational space technologies.
In this regard, Yashas Karanam from Bellatrix Aerospace noted that the fund will provide the capital needed for testing, space-qualification, and developing cutting-edge hardware, ensuring startups can meet the rigorous demands of the space industry.
As a result, startups will be able to progress through these critical stages, with the funding enabling them to refine their technologies and prepare for commercial deployment.
In addition to funding, TAF will offer technical guidance and mentoring to help startups overcome challenges in the product development phase.
According to the Indian Space Association (ISpA), the fund will support the transition of space concepts into commercial products, ensuring that the growing number of space startups can access the necessary financial resources to turn their ideas into reality.
The Technology Adoption Fund marks a significant step in supporting India’s space startup ecosystem.
By offering financial assistance, technical support, and industry mentoring, the fund strengthens the government’s commitment to advancing space innovation and ensuring India’s competitive position in the global space sector.
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