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Rajnath hints about increasing grants to the startups under the iDEX initiative
Defence minister, Rajnath Singh hinted about increasing grants given to the startups under the iDEX initiative aimed at elevating the innovations in the defence sector.
Defence minister, Rajnath Singh hinted about increasing grants given to the startups under the iDEX initiative aimed at elevating the innovations in the defence sector.
Bengaluru: Defence minister, Rajnath Singh hinted about increasing grants given to the startups under the iDEX initiative aimed at elevating the innovations in the defence sector.
He said that CDS Gen Bipin Rawat echoed the same feeling.
"India embarked on an ambitious Start up India programme on the clarion call given by the PM Narendra Modi. This program was started with the objective of harnessing the young talent, the spirit of innovation and entrepreneurship ingrained in the Indian ethos," he said at the inaugural session of Start up Manthan seminar at Aero India.
Start up India was based on three major pillars- Simplification and Handholding, Funding and incentives and incubation and Industry-Academia Partnerships.
"The programme today has an ecosystem of more than 41,000 start-ups and 4.7 lakh jobs reported by them. Rs. 4,500 crore of investment made in 384 start-ups through Fund of Funds Scheme. In such an ecosystem, it will not be an exaggeration to say, that our economy is soon going to be driven by these start-ups
Our Government is acutely conscious that startups being the latest entrants in the defence manufacturing sector require that extra push. With this aim in view, we have taken many steps to foster and encourage this partnership with private industry," Singh elaborated.
Boasting about the union government's initiatives for the armed forces, the defence minister said that their commitment to ensure that technologies developed by the Start-up eco-system act as force multipliers to the Indian military's operational and combat capabilities was highlighted in the latest version of Defence Acquisition Procedure 2020:
"Attaining self-reliance in the manufacturing of defence equipment is a crucial factor for maintaining India's strategic autonomy. The iDEX initiative stands out as one of the most effective and well-executed defence Start-up ecosystems created in our country. More than 1200 start-ups and innovators have participated in Defence India Start-up Challenge DISC. Out of these more than 60 start-ups in 30 technological areas under DISC challenges," he added.
In the aerospace sector 300 plus start-ups are currently engaged and under iDEX 10 start-ups have developed the products worth Rs 100 crores.
He announced that 45 MSMEs who have participated in Aero India have already got orders worth Rs 203 crores. "This is very heartening news and I am sure it will grow further in the times to come. The Start-up Manthan is going to provide a unique opportunity for start-ups to showcase their capabilities, products and services to the targeted audience of industry leaders and business decision makers," Singh said.
iDEX's foundation was laid in April 2018. It is the brainchild of Dr Ajay Kumar, secretary.
Addressing the gathering he said that the seed sown in 2018 has grown into a sampling. He stated that the world class research labs and OEMs are working with Indian start ups.
"The iDEX has channelised those start-ups. We have thousands of start-ups working on the problems of the armed forces. Last year was a challenge due to Covid. If you ask the startup community that was a year of opportunity. We had deals worth Rs 2 lakh crores in 2020. In Covid, we have shown what Indian innovation can do. The defence minister has approved an institutional framework under which products devised by Idex startups can be acquired by the armed forces. Several products are ready for production. In new technologies the most crucial part is having own standards and if defence is going to be cutting edge of the technology my advice to the innovators is to start developing your own standards," he added.
iDEX Open Challenge initiative creates opportunities for innovators to propose ways for harnessing their technological capabilities to strengthen our nation's military capability.
It is funded and managed by a 'Defence Innovation Organization (DIO)' which has been formed as a 'not for profit' company
Secretary, department defence production- Raj Kumar said the new addition is the iDEX for Fauji challenge where the soldiers can contribute to the ideas.
"As our nation is gifted with the best brains our innovators will emerge as potential exporters.
Idex has been designed to infuse the latest technologies in the defence sector. It permits innovators to seek support from defence innovation organisations in terms of grants. The innovators will have the opportunity to become successful entrepreneurs," he said.
