Defence Ministry approves Rs 498.8 cr for startups, innovation
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New Delhi, June 9 : The Defence Ministry on Wednesday approved Rs 498.8 crore to support startups and innovation in the defence manufacturing sector.
Defence Secretary Ajay Kumar said that the step is a big boost to startups in defence. He stated that the approval will give a big boost to become self reliant in the defence manufacturing sector.
Sanjay Jaju, Additional Secretary heading Defence Production, stated on social media The Scheme with budgetary support of Rs 498.8 crore for iDEX aims to support 300 startups and 20 partner incubators over next five years to produce functional prototypes and foster innovation in Defence.
CDIIC signs MoU with IAF
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AAA The Codissia Defence Innovation and Atal Incubation Centre (CDIIC) has signed a Memorandum of Understanding with the Indian Air Force (IAF) at the Aero India 2021, held in Bengaluru recently.
The aim was to find solutions for repair and overhaul/indigenisation of parts, sub-assemblies, assemblies, aggregates, LRUs, etc for aircraft of the IAF and to provide mentoring to the startup companies incubated at CDIIC, according to a press release from the CDIIC.
The press release said that the CDIIC participated in various events at Aero India 2021, including the startup marathon 2021, organised by the Defence Innovation Organisation
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