IN-SPACe, space industry, startups, investors say Rs 1,000-crore VC fund to catalyse growth

NEW DELHI: The Centre’s proposal to set up a Rs 1,000-crore venture capital (VC) fund for the space sector will give a major boost to the new entrepreneurs and non-governmental entities or NGEs, said Pawan Goenka, Chairman of Indian National Space Promotion and Authorization Center (IN-SPACe).

“At IN-SPACe, we look forward to supporting the growth of the space economy and nurturing an enabling ecosystem for NGEs. The fund along with the existing policies for the space sector will fuel technological innovation and create a fertile ground for NGE’s to thrive,” Goenka said, according to a media statement released on Tuesday.