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Startups: Government sanctioned Rs 498 crore to promote startups in defense sector, know details

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Startups in India: The government has taken major initiatives to promote startups in the defense sector. The Center has sanctioned Rs 498 crore to Innovation for Defense Excellence (iDEX) for the next 5 years. Explain that this budget will help the Defense Innovation Organization (DIO) make the defense manufacturing sector ‘self-reliant’ with its startups. In this regard, Defense Minister Rajnath Singh said that the IDEX initiative is one of the most effective defense startups created in the country. This campaign is a decisive step towards giving self-reliance to the country in the vision of ‘Self-reliant India’.

IDEX’s initiative is one of the most effective defense startups

The Defense Minister also said that for the first time in the country, such an environment has been created when various stakeholders have been brought together to promote startups in the defense sector. In 2018, the Ministry of Defense launched Innovations for Defense Excellence (IDEX). It aims to create an ecosystem in the country that promotes innovation in defense as well as technology development by involving R&D institutes, academics, industries, startups.

He said that the approval of this budget would give impetus to the ‘Self-reliant India’ campaign as the first objective of IDEX and DIO is to make the country’s defense and aerospace sector self-reliant and indigenous. Additional Secretary Defense Production Sanjay Jaju said that the objective of giving a budget of Rs. 498.8 crore to IDEX is to provide financial assistance to 300 startups and 20 partner incubators in the next five years.
Promoting innovation in defense production by producing prototypes).

Why iDEX and DIO were installed

The Department of Defense Production (DDP) has established IDEX and DIO to promote innovation and technology development in defense and aerospace, including MSMEs, startups, individual innovators, R&D. Under this, financial assistance is given to those institutions, academics for research and development, which have good potential for future adoption in view of the needs of Indian defense and aerospace. The sanction of Rs. 498 crore for startups will enable rapid development of new, indigenous and innovative technologies to meet the needs of the Indian defense and aerospace sector in a short span of time.

How will the promotion be given

The Department of Science and Technology’s partner incubators will interact with small businesses regarding defense and aerospace needs, hold hackathons to shortlist potential technologies and entities, and evaluate developed technologies and products. Other activities include interacting with top officers of the Armed Forces on major new technologies, encouraging them to be adopted in defense establishments with appropriate assistance, facilitating indigenization and integration of experimental technologies, and outreach activities across the country. Involves organizing

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