Innovations For Defence Excellence (iDEX) – Defence Innovation Organisation (DIO):
Defence Minister Rajnath Singh has approved the budgetary support of ₹498.8 crores to Innovations for Defence Excellence (iDEX) – Defence Innovation Organisation (DIO) for the next five years.
- Innovations for Defence Excellence (iDEX) was launched by the Government of India in 2018.
- iDEX will be funded and managed by a ‘Defence Innovation Organization (DIO)’ which has been formed as a ‘not for profit company as per Section 8 of the Companies Act 2013 by the two founder members i.e. Defence Public Sector Undertakings (DPSUs) – HAL & BEL along with the Department of Defence Production (DDP).
- iDEX will function as the executive arm of DIO, carrying out all the required activities while DIO will provide high-level policy guidance to iDEX.
- The iDEX framework and establishment of the DIO is aimed at promoting innovation and indigenisation in the aerospace and defence sector at the start-up level. The scheme is aimed at providing financial support to nearly 300 start-ups, MSME, individual innovators and 20 partner incubators.