Idex - Latest News Update, Information, Photos & Videos on Idex at Lokmat Times

The start-up firms, North Street Cooling Towers and Chipspirit Technologies were handed over cheques of around Rs 1.5 crore each by Singh.The initiative Innovations for Defence Excellence (iDEX) had been launched by the central government in April 2018 to create an ecosystem that will foster innovation and technology development in Defence and Aerospace by engaging MSMEs, start-ups, individual innovators, R&D institutes & academia.Under the initiative, the government is also committed to provide grants, funding and other support to carry out research and development that has the potential to cater to the needs of the Indian defence sector.Singh said during his address, that incubation is the most critical challenge in building this ecosystem. "The idea may be great and the innovative mind can also find a solution. However, unless the process of careful and passionate incubation provides the ideal environment for nurturing and hand holding a creation, projects might fail," Singh said.During the occasion, Secretary (Defence Production) Subhash Chandra said the aim of the central government is to fund 250 startups and achieve 50 tangible innovations in the next five years. The Defence Ministry is also in the process of seeking approval of Rs 500 crore from the central government for the purpose, he said.More than 350 start-ups selected by the iDEX, partner incubators, Defence Innovation Organization (DIO), nodal agencies including the Army, the Navy and the Air Force, apart from DRDO, Defence PSUs and Ordnance Factories were part of DefConnect 2019 that was launched on Monday.Addressing the closing session of the forum, Minister of State for Defence Shripad Naik said DefConnect 2019 has brought together all stakeholders of iDEX to showcase the growth of the defence ecosystem in the country and to recognize the infinite potential of the MSMEs and start-ups. He also stated that the iDEX portal, which was launched on Monday, would provide wider publicity and better visibility of its activities.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

IdexFOLLOW

Idex, Latest News

Aurangabad :Need for self-reliance in defence sector

Aurangabad, Sept 17: Every rupee spent on defence can strengthen the country's economy, but for that, the technology and ... ...

International :UAE firm presents country's first domestic air defence missile system

UAE weapons company Halcon on Tuesday presented the country's first air defense missile system SkyKnight, the company said. ...

International :UAE firm presents country's first domestic air defence missile system

UAE weapons company Halcon on Tuesday presented the country's first air defense missile system SkyKnight, the company said. ...

National :DAC approves indigenous procurement for armed forces of over Rs 5100 crore

The Defence Acquisition Council (DAC) has approved for the procurement of equipment for Armed Forces worth over Rs 5100 crores from the indigenous sources in order to boost "Make in India". In the DAC meeting chaired by Defence Minister Rajnath Singh ...

National :Rajnath hands over Rs 3 crore to two defence start-ups

Defence Minister Rajnath Singh handed over Rs 3 crore to two start-ups in the defence sector, to help them build upon their innovative ideas, during the inaugural session of DefConnect 2019, an initiative to showcase innovations in defence excellence ...