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News: IN-SPACe officially announced that TAF will promote space technology development. The initiative is expected to accelerate innovation and support space startups.
About Technology Adoption Fund (TAF)
- The Technology Adoption Fund (TAF) is an initiative launched by the Indian National Space Promotion and Authorization Centre (IN-SPACe) to support and accelerate the development of India’s space technology sector.
- The fund is designed to assist startups, MSMEs, and larger industries in transforming their early-stage space technologies into commercially viable products.
- Key Objectives of TAF
- Encourage domestic innovation in space technology.
- Reduce India’s reliance on imported space solutions.
- Foster collaboration between government bodies and private players.
- Enable the commercialization of cutting-edge space technologies.
- Funding Structure
- Startups and MSMEs: Up to 60% of project cost covered.
- Larger industries: Up to 40% of project cost covered.
- Maximum funding per project: Rs 25 crore.
- Benefits of TAF
- Bridges the gap between innovation and market-ready solutions.
- Helps companies refine their technologies and production processes.
- Positions India as a global leader in space technology.
- Promotes the creation of intellectual property (IP) for future R&D.
