The Indian National Space Promotion and Authorisation Centre (IN-SPACe) said it would fund the private sector to convert early-stage space technologies developed by them into commercially viable products.

The Rs 500 crore Technology Adoption Fund (TAF), launched by India's space promoter, aims to encourage development of space technologies by domestic companies to reduce import dependence.

What is IN-SPACe?

• Indian National Space Promotion and Authorisation Centre (IN-SPACe) is a single-window, independent, nodal agency that functions as an autonomous agency in the Department of Space (DOS). 

• It was created for promoting, authorising and overseeing the activities of non-government entities (NGEs) in the space sector.

• As the space sector was opened up to private enterprises and startups to undertake space activities to promote, handhold, regulate and authorise their activities, an autonomous nodal agency attached to the Department of Space was formed. 

• This will enhance the diffusion of space technology and boost the space economy within the country. 

• IN-SPACe will permit and oversee the activities of private enterprises and startups.

• It regulates space activities, including the building of launch vehicles and satellites and providing space-based services as per the definition of space activities.

• The agency acts as an interface between ISRO and NGEs and assesses how to utilise India’s space resources better and increase space-based activities. 

• It permits the sharing of space infrastructure of ISRO and the establishment of temporary facilities within the premises of ISRO.

• It also assesses the needs and demands of private players, including educational and research institutions, and explores ways to accommodate these requirements in consultation with ISRO.

Purpose of the Technology Adoption Fund

• The fund will offer financial support of up to 60 per cent of the project cost for startups and MSMEs, and 40 per cent for larger industries, with a maximum funding cap of Rs 25 crores per project.

• The fund is open to all eligible non-government entities that are ready to demonstrate the commercial potential of their innovations. 

• By providing partial funding to non-government entities (NGEs), the Technology Adoption Fund will support the transition of innovative ideas from the drawing board to a market-ready stage.

• In addition to financial support, the initiative will provide technical guidance and mentoring opportunities, which will help companies navigate challenges during the product development phase. 

• Investing in domestic research and development, the TAF will help build a strong partnership between government bodies and the private sector and position India as a reliable global partner in the space industry.

• With this fund, IN-SPACe aims to support a wide range of outcomes —  from the development of new space products to the creation of intellectual property that can drive future research and development.

(The author is a trainer for Civil Services aspirants.)