Innovations for Defence Excellence (iDEX) challenge

GS PAPER III: Science and Technology- developments and their applications and effects in everyday life.

Context: Defence Minister has approved the budgetary support of ₹498.8 crore to Innovations for Defence Excellence (iDEX) challenge under the Defence Innovation Organisation (DIO) for the next five years.

Innovations for Defence Excellence (iDEX)

• The iDEX framework and establishment of the DIO by the Department of Defence Production (DDP) is aimed at promoting innovation and indigenisation in the aerospace and defence sector at the start-up level.
• iDEX will be funded and managed by a “Defence Innovation Organisation (DIO)‟ formed as a “not for profit‟ company as per Section 8 of the Companies Act 2013 for this purpose.
• The scheme, with budgetary support of ₹8 crore for the next five years, is aimed at providing financial support to nearly 300 start-ups, Micro, Small and Medium Enterprises (MSME), individual innovators and 20 partner incubators under the DIO framework
• It aims at empowering a culture of technology co-creation and co-innovation in the sector and boosts innovation among the start-ups and encourages them to be a part of the ecosystem.

https://www.thehindu.com/news/national/rajnath-singh-approves-budgetary-support-of-nearly-499-crore-for-innovations-in-defence-sector/article34804110.ece