Why in news ?
The Defence Minister has approved the budgetary support of Rs 498.8 crore for iDEX-DIO (Innovations for Defence Excellence – Defence Innovation Organisation) for the next five years.
- Innovations for Defence Excellence (iDEX) were launched by the Government of India in 2018.
- Aim: It aims to create an ecosystem to promote innovation and technology development in Defence and Aerospace. For that, it will attract industries including MSMEs, start-ups, individual innovators, R&D institutes & academia.
- It will also provide grants/funding and other support to them to carry out R&D. However, R&D should have a good potential for future adoption for Indian defence and aerospace needs.
- Objectives of IDEX:
- Facilitate rapid development of new, indigenized, and innovative technologies for the Indian defence and aerospace sector in shorter timelines.
- Create a culture of engagement with innovative startups, to encourage co-creation for defence and aerospace sectors.
- Empower a culture of technology co-creation and co-innovation within the defence and aerospace sectors.
- Nodal Body: iDEX will be funded and managed by Defence Innovation Organisation (DIO).