IN-SPACe announces ₹1 crore funding scheme for space startups

IN-SPACe announces ₹1 crore seed funding scheme for space startups

  • The Indian National Space Promotion and Authorization Centre (IN-SPACe) has announced a Rs 1 crore seed fund scheme for early-stage space start-ups, to bolster the space industry in the country.
  • Under this scheme, the selected startups would get a grant of up to ₹1 crore in instalments.
  • Eligible startups
    • Startups recognised by the DPIIT (department for promotion of industry and internal trade) and owned 80% by Indians.
    • Those startups who have not availed more than Rs 50 lakh through any other Central Government Scheme.
    • Early-stage start-ups that use space technology to address upstream/ midstream and downstream challenges in the sector.

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