In News:

IN-SPACe, India’s space sector regulator under the Department of Space, has launched the Technology Adoption Fund (TAF) to accelerate the commercialization of indigenous space technologies.

About TAF:

• Objective: To bridge the gap between early-stage innovation and market-ready space solutions developed by Indian startups, MSMEs, and industries.
• Goal: Reduce dependence on imported technologies and strengthen India's position in the global space sector.

Key Features:

• Financial Support:
  • Startups/MSMEs: Up to 60% of project cost.
  • Larger industries: Up to 40%.
  • Funding cap: ?25 crore per project.
• Eligibility: Open to all non-government entities (NGEs) with commercially viable space innovations.
• Support Provided:
  • Partial funding for development and commercialization.
  • Technical mentoring and guidance.
• Focus Areas: Launch vehicles, satellites, space-based applications, and related services.
• Outcomes Expected:
  • Development of new space products.
  • Intellectual property generation.
  • Enhanced production capabilities.
  • Economic growth and job creation.

About IN-SPACe:

• Established: 2020
• Ministry: Department of Space
• Location: Ahmedabad, Gujarat
• Role: Single-window agency promoting private participation in India's space ecosystem.
• Functions:
  • Authorizes and monitors private sector space activities.
  • Facilitates access to ISRO infrastructure.
  • Collaborates with academia, industry, and research bodies.

Significance:

• Encourages private innovation in space tech.
• Aligns with the larger vision of making India a hub for space entrepreneurship.
• Strengthens India’s self-reliance and competitiveness in global space technology.