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Defence ministry announces Rs.499-Cr support for startups, MSMEs
The Defence Ministry has announced a budgetary support of INR 498.8 crore to the scheme Innovations for Defence Excellence (iDEX) by Defence Innovation Organisation (DIO). The scheme intends to financially support close to 300 MSMEs, startups, individual innovations, and 20 partner incubators under the DIO framework for the next five years to boost self-reliance and indigenisation in the defence and aerospace sector. The support would look at engaging MSMEs, startups, individual innovators, R&D institutes through grants or funding, and other support to carry out R&D development that has good potential for future adoption for Indian defence and aerospace needs. DDP will also organize different challenges and hackathons to shortlist potential technologies and entities and evaluate technologies and products developed by innovators, and startups in terms of their utility and impact on the defence and aerospace setup.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.