The Defence Ministry will fund startups that provide solutions to the needs of AI, advanced imaging, sensor systems, big data analytics, autonomous unmanned systems and secured communication systems, among other technologies.
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This programme aims to support projects that require funding from Rs 1.5 crore to Rs 10 crore. The newly formed seven defence companies, the Indian Coast Guard and organisations under the Ministry of Home Affairs will also participate.
Speaking on occasion, Shri Rajnath Singh said that such challenges show the increasing technological prowess of the country. “The iDEX programme has provided our science and technology professionals an opportunity to understand futuristic technologies such as AI, augmented reality, block-chain and space technologies,” the minister added.
The Defence India Startup Challenge was launched under the iDEX initiative by MoD and the Atal Innovation Mission. It aims to support Indian startups, MSMEs and innovators that create prototypes, commercial products and solutions in the defence and aerospace sector.
Founded in 2018, iDEX engages MSMEs, startups, individual innovators, R&D initiatives, and academia. It provides them financial assistance to create tech solutions that can be adopted by the defence and aerospace sectors.