IN-SPACE Launches $58 Million Fund to Back Spacetech Cos

Indian National Space Promotion and Authorisation Centre (IN-SPACE) on Wednesday launched a ₹5 billion ($57.58 million) fund to help early-stage space technologies go commercial and reduce reliance on imports as India seeks to boost its market share in the global space industry.

- Reuters

The Technology Adoption Fund will also connect government bodies with the private sector, aiming to position India as a reliable partner in an increasingly competitive market, the space regulator said in a statement. "The fund will offer financial support of up to 60% of the project cost for startups and medium and small businesses, and 40% for larger industries, with a maximum funding cap of ₹250 million per project," Pawan Goenka, chairman of IN-SPACE, said.