India's spacetech startups secured ₹833.89 crore in the initial disbursal round under the government’s ₹1 trillion Research, Development and Innovation (RDI) Fund, according to a document reviewed by livemint.com. The government approved assistance for 22 startups totaling ₹2,192.32 crore, with spacetech firms receiving the highest share.
The ₹1 trillion RDI Fund was first announced by the finance minister in the Union Budget of July 2024. The fund aims to support deeptech startups across sectors, but spacetech companies including Dhruva Space and Astrome emerged as the largest beneficiaries in this first round. The government’s approval process selected 22 startups for funding, prioritizing those with strong innovation potential.
This disbursal highlights the growing prominence of India's spacetech sector within the broader deeptech ecosystem. The ₹1 trillion RDI Fund is one of the largest government-backed initiatives to boost innovation, and the significant allocation to spacetech startups reflects the strategic importance of space technology for India’s technology ambitions. The fund’s support is expected to accelerate product development and commercialization in this sector.
The government’s approval of ₹2,192.32 crore for 22 startups marks a significant step in operationalizing the RDI Fund. The next disbursal rounds and the impact on the funded startups’ growth will be closely monitored by stakeholders in India’s innovation landscape.