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Raksha Mantri Shri Rajnath Singh has approved the budgetary support of Rs 498.8 crore to Innovations for Defence Excellence (iDEX) - Defence Innovation Organisation (DIO) for the next five years
- The budgetary support will provide a big boost to the ‘Aatmanirbhar Bharat Abhiyan’ of Prime Minister Shri Narendra Modi as iDEX–DIO has the primary objective of self-reliance and indigenisation in defence & aerospace sector of the country.
iDEX
- The creation of the iDEX framework and establishment of the DIO by the Department of Defence Production (DDP) is aimed at creating an ecosystem to foster innovation and technology development in defence and aerospace by engaging Industries including MSMEs, start-ups, individual innovators, R&D institutes & academia and provide them grants/funding and other support to carry out R&D development which has good potential for future adoption for Indian defence and aerospace needs.
- The scheme, with budgetary support of Rs 498.8 crore for the next five years, is aimed at providing financial support to nearly 300 start-ups/MSMEs/individual innovators and 20 partner incubators under the DIO framework.
- The scheme aims to facilitate rapid development of new, indigenised and innovative technologies for the Indian defence and aerospace sector to meet their needs in shorter timelines; create a culture of engagement with innovative start-ups to encourage co-creation for defence and aerospace; empower a culture of technology co-creation and co-innovation within the defence and aerospace sector and boost innovation among the start-ups and encourage them to be a part of the ecosystem.
Significance
- It will support increased awareness in the Indian innovation ecosystem about defence needs and, conversely, in the Indian Defence establishment about the potential of the Indian innovation eco-system to deliver innovative solutions to meet their needs.
- The long-term effect to be realised by the group is the establishment of a culture, where enlisting the effort of innovators by the Indian military is commonplace and frequent.
Source: PIB
