India Launches TAF to Boost Space Tech and Reduce Imports

The Technology Adoption Fund (TAF) was established to promote the development of space technology in India and reduce the nation's dependence on imports. Through providing partial financial assistance to non-government entities (NGEs), the TAF will aid in the development of creative ideas from the planning phase to market readiness.

The Indian National Space Promotion and Authorization Centre (IN-SPACe) declared a ₹500-crore Technology Adoption Fund (TAF), a fund aimed at assisting space technology companies, particularly startups and MSMEs, in creating commercially successful products.

The fund seeks to promote the advancement of cutting-edge space technologies and contribute to job creation and economic expansion. By funding projects that have the potential to become successful ventures, IN-SPACe is taking steps to enhance India’s position in the global space sector.

Through investments in local research and development, the TAF will promote strong cooperation between government organizations and the private sector, positioning India as a reliable global partner in the space industry.

Through TAF, IN-SPACe seeks to facilitate various outcomes—ranging from the advancement of new space products to generating intellectual property that can propel future research and development.

The Technology Adoption Fund is accessible to all qualified NGEs/companies eager to showcase the commercial viability of their innovations. Besides financial assistance, the initiative will offer technical advice and mentoring chances, helping businesses tackle challenges throughout the product development stage. This all-encompassing support system aims to guarantee that creative concepts are not only safeguarded and improved but also introduced to the market effectively.