IN-SPACe has launched Technology Adoption Fund (TAF) scheme for promoting the Indian industry especially start-ups towards commercialization of early-stage space technologies.

The objective of the fund is:

1. Upgradation of the existing space technologies from TRL-3/4 to TRL 7/8 (or higher) towards commercialization.
2. Development of innovative products.
3. Import substitution of components whose technologies have not matured in the Indian industry.

The criteria for startups to qualify for financial support are:

1. The startup should be under Indian management and control.
2. The proposal of the startup shall have potential commercial value.
3. The startup shall not source any funding from any other central & state govt departments and/or ministries for the project forming the subject of their proposal(s).

The scheme aims at making India self-sufficient and import substitution for complex space technologies thus aligning with Aatmanirbhar Bharat and also aims at supporting the startups working in niche space technologies by enhancing the domestic technical capabilities.

This information was given by Union Minister of State (Independent Charge) for Science and Technology, Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Dr. Jitendra Singh in a written reply in the Rajya Sabha today.

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NKR/PSM