Union Budget 2024: R&D, spacetech fund gives deeptech startups a boost

The Union Budget 2024 has introduced a significant boost for deep-tech startups by establishing a new R&D spacetech fund. This fund aims to support innovation in space technology and related sectors, facilitating advances in satellite technology, space exploration, and data analytics. By allocating substantial resources, the government seeks to enhance the capabilities of startups in these high-tech fields, driving growth and attracting further investment. The initiative is expected to spur development, create job opportunities, and strengthen India's position in the global space industry.