Centre’s nod to Rs 1000-cr venture capital fund for space start-ups; industry welcomes

New Delhi: In a bid to drive private investments in the space sector, the government on Thursday approved setting up of a Rs 1,000 crore venture capital for start-ups, a move welcomed by the industry as a game changer. The fund will function under the aegis of Indian National Space Promotion and Authorization Centre (IN-SPACe) and will be operated along with Indian Space Research Organisation, Information and Broadcasting Minister Ashwini Vaishnaw told reporters here.