India Launches ₹5 Billion Fund to Boost Space Innovation

The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has launched a Technology Adoption Fund worth 5 billion rupees ($57.58 million) to support early-stage space technologies and reduce import reliance. This initiative aims to provide financial support covering up to 60% of project costs for startups and SMEs, and 40% for larger companies, with a maximum cap of 250 million rupees per project. The fund is part of India's broader strategy to enhance its position in the global space market by encouraging private investment and fostering innovation. High-profile collaborations are emerging, including a joint venture between Reliance's Jio Platforms and SES for gigabit fiber internet services, as well as planned ventures involving Musk's Starlink and Amazon’s Kuiper. The government is also backing a separate 10 billion rupee venture capital fund, aimed at further strengthening the ecosystem for space startups. This initiative aligns with the global trend of commercializing space, reflecting India's ambition to become a key player in the industry.