Defense Ministry approves Funding Rs 498.8 Crores until five years

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New Delhi: Monetary funding of Rs 498.8 crores was approved by Defence Minister Shri Rajnath Singh till the next five years to Innovations for Defence Excellence (iDEX) – Defence Innovation Organisation (DIO). The budgetary scheme targets around 300 start-ups/MSMEs/individual innovators and 20 partner incubators under the DIO framework. And in order, will have enhanced awareness in the Indian innovation ecosystem for defense needs and establishments leading to potentiality to deliver innovative solutions meeting requisites.

The team DIO created the channel for innovators to engage and interact with the Indian Defence production industry with a long-term effect for the establishment of culture, enlisting the effort of innovators by the Indian military frequently.

This budgetary support will be a big boost to the ‘Aatmanirbhar Bharat Abhiyan’ of Prime Minister Shri Narendra Modi since it has an aim of iDEX–DIO for self-reliance and indigenization in the defense & aerospace sector of the country.

The released funds from DDP to DIO sets up the iDEX network in the form of Partner Incubators (PIs) to manage, communicate with innovators/start-ups/technology centers of MSMEs, defense and aerospace needs, organize hackathons through the PIs needs to shortlist various potential technologies and entities and evaluating technologies and products developed. Rest activities include funding and enabling pilots of this field, interfacing with Armed Forces, assisting for defense establishment, and developing the latest technologies.

The iDEX-DIO was established by the Department of Defence Production (DDP) to nurture innovation and technology development in defense and aerospace by engaging Industries including MSMEs, start-ups, individual innovators, R&D institutes & academia providing grants/funding and other supports to carry out R&D development.