Union Minister Jitendra Singh unveiled a ₹1,000-crore funding program for Indian space sector startups to improve their global competitiveness. The fund will be operated by SIDBI Venture Capital Limited and will invest ₹150 crore in FY 2025-26, expanding to ₹250 crore per annum over the following...
Union Minister Jitendra Singh unveiled a ₹1,000-crore funding program for Indian space sector startups to improve their global competitiveness. The fund will be operated by SIDBI Venture Capital Limited and will invest ₹150 crore in FY 2025-26, expanding to ₹250 crore per annum over the following three years. This is as part of the government's larger ₹10,000-crore corpus for space technology.
The plan is aligned with the Indian Space Policy 2023 aimed at encouraging private sector participation and innovation in space technology. Minister Singh emphasized that India, which joined the space arena late, is now at the forefront of the world in innovation and indigenization.
This investment will be utilized to address risk capital concerns and catalyze growth in India's successful space economy, further deepening its international presence.