The Technology Adoption Fund (TAF), a Rs 500 crore project to promote innovation and commercialization in the space industry, was introduced on February 19 by the Indian National Space Promotion and Authorization Center (IN-SPACe), the space regulator.
According to an announcement from IN-SPACe, the program provides up to Rs 25 crore in partial support for each project. Its goal is to assist private companies in advancing space technology from their infancy to economically viable solutions.
Large enterprises may obtain up to 40% help from the fund, while startups and MSMEs can receive up to 60% of their project cost, according to IN-SPACe.
Pawan K Goenka, chairman, IN-SPACe said, “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.”
IN-SPACe claims that the fund supports the goal of the Indian Space Policy, which is to encourage private sector involvement. However, IN-SPACe must first approve any licensing of the produced IP.
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