NEW DELHI: The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has selected three of the country's space startups as the first set of non-governmental entities (NGEs) for funding under its Technology Adoption Fund scheme.
The startups are Bengaluru-based companies Astrobase Space Technologies and SatSure Analytics India and TM2SPACE Technologies from Hyderabad.
While funding has been provided to Astrobase for developing a high-thrust closed-cycle liquid rocket engine for space launch vehicles, SatSure will build a large Earth observation model (LOM) designed to serve as India's foundational AI platform for remote sensing applications.
Meanwhile, TM2SPACE will develop an indigenous AI-powered star tracker system for satellites, enabling the pointing accuracy required for high-resolution imaging and communication missions.
In a statement, Dr Pawan Goenka, chairman of IN-SPACe, said, "With this fund, our vision is to bridge the critical gap between early-stage development and commercial success. By offering this financial support, we are empowering the private sector to work on cutting-edge space technologies."
The Technology Adoption Fund scheme is designed to support Indian industry in absorbing, adapting, and commercialising advanced space technologies.
The startups were shortlisted for funding under the scheme after a multi-stage evaluation process conducted by an expert committee with members from ISRO, the Department for Promotion of Industry and Internal Trade, the Department of Science and Technology, industry, academic institutions, and IN-SPACe.