October 24, 2024 5:12 PM

Cabinet approves ₹1,000 crore venture capital fund to boost space sector startups

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the creation of a ₹1,000 crore Venture Capital Fund dedicated to the space sector, under the supervision of the Indian National Space Promotion and Authorization Center (IN-SPACe). Announcing the decision, Information and Broadcasting Minister Ashwini Vaishnaw said the fund aims to support the development of space startups, with a planned deployment period of up to five years from the start of operations. “The Union Ca...