- March 26, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
Context: Starting-up for defence: Government plans to fund at least 250 defence start-ups.
- iDEX is an initiative taken by the government to contribute towards modernization of the Defence Industry.
- To reduce India’s reliance on defence imports, the defence ministry launched the Innovations for Defence Excellence (iDEX) initiative.It was launched by the Government in April 2018.
- The ministry has earmarked Rs 500 crore to support MSMEs and start-ups through the iDEX.
- iDEX aims to promote innovation and technology development in Defence and Aerospace by engaging Industries (which includes MSMEs, start-ups, individual innovators, R&D institutes & academia).
- iDEX will provide the engaging industries with funding and other support to carry out Research & Development.
- iDEX will be funded and managed by Defence Innovation Organization (DIO), and will function as the executive arm of DIO.