NEW DELHI (PTI): The Union Cabinet on Thursday approved setting up of a Rs 1,000 crore venture capital fund to help space sector start ups, Union minister Ashwini Vaishnaw said.
The fund is expected to support approximately 40 startups in the sector and will accelerate private space industry's growth.
It will also push advancements in space technology and strengthen India's leadership through private sector participation, the government said.
The capital infusion will also create a multiplier effect by attracting additional funding for later stage development.
Cabinet nod for Rs 1,000 crore venture capital fund for space sector startups
Article Posted on : - Oct 24, 2024
Other Related News
Navy's national security requirement supreme, but need to be self-reliant too: Vice Chief
Vice Chief of Indian Navy Vice Admiral Krishna Swaminathan has asserted that as far as the naval force is concerned, the requirements of national security are "supreme" but the Navy would like to support national security needs by being self-reliant.
The Indian Air Force, in its flight trials evaluation report submitted before the Defence Ministry l..
view articleAn insight into the Medium Multi-Role Combat Aircraft competition...
view articleSky enthusiasts can now spot the International Space Station (ISS) commanded by Indian-American astr..
view article