(MENAFN- KNN India) New Delhi, Nov 11 (KNN) In a bid to boost innovation and entrepreneurship in India's expanding space ecosystem, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) and SIDBI Venture Capital Ltd have signed a Contribution Agreement to operationalise the Rs. 1,000-crore Venture Capital Fund dedicated to the country's space sector.

The fund approved by the Union Cabinet in October 2024 and cleared by SEBI on October 31, 2025 will support startups across the entire space value chain. It aims to provide early-stage and growth capital to companies developing launch vehicles, satellites, payload systems, in-space services, earth observation tools, and communication platforms.

SIDBI Venture Capital Ltd, appointed as the fund manager in March 2025, will leverage its deep experience in supporting early-stage and technology-led enterprises across sectors.

“This dedicated fund will give young companies the capital and confidence to innovate boldly,” said Arup Kumar, MD and CEO of SVCL. He emphasized that SVCL is committed to empowering deep-tech and frontier-technology entrepreneurs, with the space sector representing one of the most promising frontiers for national growth. The fund will target early- and growth-stage startups working on satellite systems, launch technologies, in-space services, and communication platforms.

Lochan Sehra, Joint Secretary at IN-SPACe, called the fund“a major enabler for India's private space sector,” adding that it will give startups the financial runway to test ideas, build indigenous technologies, and scale confidently. With this move, IN-SPACe continues to advance India toward a self-reliant and globally competitive space industry, reinforcing its vision of fostering innovation through policy and funding support.

The operationalisation of this fund represents a significant step toward building a strong, innovation-driven, and future-ready space industry for India.

(KNN Bureau)

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