New Delhi: space regulator and promoter of the National Space Promotion and Authorization Center (In space) announced the launch of Technology adoption funds (TAF) to maintain and support the growth of the capacities of India spatial technology. The fund is designed to support the transition of space technologies at an early stage developed by Indian companies in commercially viable products.
By providing partial financing to non -government entities, TAF will support the transition of innovative ideas for the drawing board at a ready -made stage. TAF was created to promote the development of spatial technology within India while reducing the country’s dependence on imported solutions. Investing in interior research and development, TAF will help establish a solid partnership between government organizations and the private sector and will position India as a reliable global partner in the space industry.
“The fund will offer financial support up to 60% of the cost of the project for startups and MPMEs, and 40% for large industries, with a maximum funding ceiling of RS 25 crosses by project,” said the president of The Pawan Goenka area. “We have designed this fund to help innovators fill the gap between the development and marketing of early stages. This support will allow companies to refine their technologies, improve production processes and respond to market demands in India and abroad. Our goal is to allow practical solutions that can be quickly integrated into the space ecosystem, “he said.
With Taf, In Space aims to support a wide range of results – from the development of new space products to the creation of intellectual property that can stimulate future research and development.
TAF is open to all eligible NGEs that are ready to demonstrate the commercial potential of their innovations. Interested parties are encouraged to register on the digital platform in the space to examine directive documents and to submit their requests in the prescribed format.
The representative of the Indian Indian Space Association (ISPA) representative described it as a large stage. The director general of ISPA, Lieutenant-General Ak Bhatt (RETD), said: “With India, reaffirming its role in the world race in space, private space companies and startups play a central role In the conduct of innovation and technological progress in the sector … The launch of the launch of the launch of the launch of the launch of the launch of this Fund turned to the future by IN SPACE today is a step is a step Major to allow the start-ups to accelerate their concept background to marketing. We welcome this initiative.