New Delhi, Aug 12 A US delegation led by Isabel Casillas Guzman, Administrator of the US Small Business Administration (SBA) visited Innovations for Defence Excellence-Defence Innovation Organisation, Department of Defence Production, and witnessed the techno-showcase organised by iDEX-DIO at IIT Delhi on Monday.
Isabel Casillas Guzman, the 27th Administrator of the US SBA, commended the start-up showcase and the way the iDEX scheme has galvanised the defence innovation ecosystem in India. She said that SBA is looking forward to interacting with iDEX and its startups during the forthcoming summit to explore collaborative avenues.
The US SBA is an independent agency of the federal government, offering a range of financing options, from micro-lending to debt and equity investment capital, to support small businesses.
An overview was presented to the US delegation, highlighting how iDEX has been able to create a robust defence innovation ecosystem by fostering the development of advanced technologies by engaging with startups and MSMEs.
Both sides also lauded the INDUS-X (India-US Defence Acceleration Ecosystem) initiative which is strengthening the technology partnership and defence industrial cooperation between the two countries. The key initiatives under INDUS-X include joint innovation projects in critical domains and the capacity building of startups.
iDEX has successfully fostered a burgeoning community of start-ups within the defence sector. It is currently engaged with over 450 start-ups and MSMEs.
Till now, procurement worth over Rs 2,300 crore, has been cleared by the MoD for the successful iDEX projects. It has created avenues for young innovators and is playing a pivotal role under the umbrella of Make in India drive for a Viksit Bharat.
The Indian side was led by Amit Satija, Joint Secretary, Defence Production, in the Ministry during the discussions with the US delegation.
India’s startup ecosystem is expected to play an important role in helping the country achieve a breakthrough in high-tech areas of defence production as part of the goal of self-reliance.
The government last month awarded seven new projects to startups under the Technology Development Fund scheme for various requirements of the aerospace and defence sectors as part of the country's self-reliance drive.
--IANS
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