Defense Minister Rajnath Singh approves Rs 498.8 crore budget support for defense innovation through IDEX-DIO
Defense Minister Rajnath Singh has approved a budget of Rs 498.8 crore through the Defense Innovation Organization (DIO) for the next five years. Therefore, with this budget support, Prime Minister Narendra Modi’s ‘Atmanirbhar Bharat Abhiyan’ will get a big boost.
Through the Department of Defense Productivity (DDP) to create an ecosystem and provide grants / funding and other support to MSMEs, start-ups, individual innovators, R&D institutes and industries in the education sector The purpose is to design IDX and establish DIO. It has good potential to adapt to the needs of Indian defense and space sector in the future.
For the next five years, the budget support scheme of Rs 498.8 crore aims to provide financial assistance to around 300 start-ups / MSMEs / individual innovators and 20 partner incubators under the DIO structure. The scheme will help raise awareness about the defense needs in the Indian innovation sector and, in turn, raise awareness among the Indian defense establishment about their ability to come up with unique solutions to meet the needs of their innovative solutions.
DIO, along with its team, will be able to create innovative mediums in terms of connecting and interacting with Indian defense manufacturing industries. The long-term impact of this team is to establish a culture where listing the innovative efforts of the Indian Army is a common and frequent occurrence.
Facilitate the rapid development of new, indigenous and innovative technologies for the Indian defense and space sector with a view to meeting short-term needs, building a culture of engaging with innovative start-ups to encourage defense and co-creation for the space sector; The plan aims to enable a culture of technology co-creation and co-innovation in the defense and space sectors and to encourage innovation in the space sector and start-ups to become part of the ecosystem.