Chhatrapati Sambhajinagar
The city is emerging as a key hub for engineering production, with a immense local industrial ecosystem supported by active industry associations, said Dr. Sameer Kamat, Chairman of DRDO. Kamat inaugurated the "Defense Innovation Challenge for Excellence 2024," organized by MAGIC at Chhatrapati Shahu Engineering College on Saturday.
Since 2014, significant changes have occurred in the defense sector, and we have focused on self-reliance. A secure nation will see rapid economic growth. Our country spends 0.68% of its total GDP on research and development, which needs to increase to over 1%. He provided guidance on the Day to Dream Innovation Challenge of DRDO, where student startups and MSMEs participated to secure funding. Notably, if the idea was deemed exceptional and related to defense, DRDO provided the funds without taking any equity. Hence, attention needs to be focused on emerging technology sectors. This challenge emphasized the dual nature of advancements such as AI technology, which, while offering tremendous potential, also poses significant risks and ethical dilemmas that could jeopardize security. Although large institutions are operational for mainstream production, the startup ecosystem must step up to develop innovative concepts in the defense sector."
At the start of the event, MAGIC's Director Ashish Garde provided details about the Innovation Challenge through MAGIC. Director Ritesh Mishra presented information about the projects. Deputy Chairman CII Western Region and Managing Director of Bagla Group Rishi Bagla, technical advisor to the DRDO Chairman Manish Bhardwaj, President of CMIA Arpit Save along with Milind Kank, and MAGIC Directors Prasad Kokil, Ritesh Mishra, and Shrikant Deshmukh shared the dice. Principal Dr. Ulhas Shinde was also present. The event was anchored by Preeti Kamthe and Milind Kank delivered the vote of thanks.