This article is published in Aerospace Daily & Defense Report part of Aviation Week Intelligence Network (AWIN), and is complimentary through Nov 04, 2024. For information on becoming an AWIN Member to access more content like this, click here.
Indian startup Agnikul Cosmos is developing space launcher technologies.
The Indian government has approved plans for a space investment fund, saying it has earmarked INR10 billion ($118 million) for the effort on a multiyear basis.
The money would be allotted annually in funding blocks stretching out to 2030, the Indian government said Oct. 25. The government has tentatively earmarked 2025-26 funding at INR1.5 billion, followed by annual allocations of INR2.5 billion and INR1 billion in the final year of the plan, it said.
”With nearly 250 space startups emerging across the value chain, timely financial support is crucial to ensure their growth and prevent talent loss overseas,” the government said. “The proposed government-backed fund will boost investor confidence, attract private capital and signal the government’s commitment to advancing space reforms.”
The money will be run by In-Space, an organization set up as part of the 2020 space sector reform initiative.
“The proposed fund is expected to boost employment in the Indian space sector by supporting startups across the entire space supply chain—upstream, midstream and downstream,” the government said, adding that it would “help businesses scale, invest in R&D and expand their workforce.”
Related Content
