According to a reply by Dr Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for Prime Minister’s Office, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions to Rajya Sabha, Indian National Space Promotion and Authorisation Centre (IN-SPACe) has launched Technology Adoption Fund (TAF) scheme for promoting the Indian industry especially start-ups towards commercialisation of early-stage space technologies.
The objective of the fund is:
- Upgradation of the existing space technologies from Technology Readiness Level 3 or 4 (TRL-3/4) to TRL 7/8 (or higher) towards commercialisation.
- Development of innovative products.
- Import substitution of components whose technologies have not matured in the Indian industry.
The criteria for start-ups to qualify for financial support are:
- The start-up should be under Indian management and control.
- The proposal of the start-up shall have potential commercial value.
- The start-up shall not source any funding from any other central and
- state government 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 start-ups working in niche space technologies by enhancing the domestic technical capabilities.
