Union Minister Piyush Goyal announced that the government has extended investment support of Rs 211 crore under the Fund of Funds for Startups (FFS) scheme, giving a push to India’s space-tech ecosystem. He said the initiative is helping homegrown innovators turn bold ideas into reality by providing critical resources.
Innovation and Self-Reliance at the Core
Sharing updates on X, Goyal noted that the Startup India programme is propelling advanced technologies and strengthening India’s position as a rising space power. Guided by Prime Minister Narendra Modi’s vision, he said the government’s focus is on innovation, youth-driven entrepreneurship, and self-reliance, with space technology being used for both exploration and societal transformation.
Startups Leading the Charge
Goyal highlighted that Indian startups are increasingly driving self-reliance in space technology. Companies like Ethereal X, he said, are not only contributing to space missions but also positioning India as a global symbol of innovation and independence.
Startup India Flagship Schemes
The Startup India initiative, launched in 2016, is being supported through three key schemes:
- Fund of Funds for Startups (FFS) – catalyses venture capital through SEBI-registered Alternative Investment Funds.
- Startup India Seed Fund Scheme (SISFS) – supports startups in the early stages.
- Credit Guarantee Scheme for Startups (CGSS) – provides credit support.
FFS is managed by SIDBI, which channels funds into AIFs that in turn invest in startups. AIFs are required to invest at least double the amount committed by FFS. As of June 30, 2025, net commitments worth Rs 9,994 crore have been made to 141 AIFs under the scheme.
Prime Minister’s Message on National Space Day
In a video message marking National Space Day 2025, Prime Minister Narendra Modi underlined how restrictions in futuristic sectors like space have been removed, opening the door for private participation. He pointed out that more than 350 startups are now actively innovating in space technology.
The Prime Minister announced that the first PSLV rocket built by the private sector will soon be launched. He also revealed that India’s first private communication satellite is under development, while preparations are underway for an Earth Observation Satellite Constellation through a public-private partnership.
Expanding Opportunities and Investment
Modi said the space sector is creating vast opportunities for India’s youth. Reflecting the government’s commitment, India’s space budget has nearly tripled in the past decade, from Rs 5,615 crore in 2013-14 to Rs 13,416 crore in 2025-26.
