Defense Minister Launches “iDEX Investor Hub,” Rs 200 Cr Already Pledged

Defense Minister Rajnath Singh launched the “iDEX Investor Hub” (iIH) on Wednesday. Top Indian investors have already pledged more than Rs 200 crores for this project.

During the annual defence innovation event “Manthan,” which was part of Aero India 2023, he also launched the ninth edition of the “Defense India Startup Challenges” (DISC 9) on “Cybersecurity.”

Innovations for Defence Excellence (iDEX) is the Department of Defence Production’s main programme to encourage start-ups and other organisations to work on innovations in defence.

Officials say that the goal of the “iDEX Investor Hub” is to speed up investment in the Defense sector and give investors a single view of opportunities and new ideas.

An official statement said that leading Indian investors had already pledged more than Rs 200 crore to iIH.

The Indian Cyber Crime Coordination Centre (i4C) of the Ministry of Home Affairs and iDEX worked together for the first time on “DISC 9,” which came out on Wednesday. These challenges came from Services, DPSUs, and the Ministry of Home Affairs. This shows how much iDEX has affected the Defense industry and how interested people are in it.

Defense Innovation Organisation (DIO) also signed memorandums of understanding (MoUs) with major investors at “Manthan.”

The release also said that DIO had signed MoUs with ISRO, IN-SPACe (Indian National Space Promotion and Authorisation Centre), and ISpA (Indian Space Association) to strengthen the Defence Space even more. Another MoU was also signed with the Border Roads Organisation (BRO) to possibly launch start-up challenges in the future.

During the event, the fourth round of the Innovate4Defense internship (i4D) was also launched, and students from all over India were asked to apply.

Singh also gave out the Indian Army’s list of “110 Problem Statements” for the country’s research, design, development, and manufacturing ecosystem for defence research, design, and development.

The “Problem Statements” describe the technological challenges and needs of the Indian Army in areas like Armament, Surveillance, and Fire Control Systems, as well as more specialised areas like Artificial Intelligence, Blockchain, Metaverse, Robotics, Quantum Technology, Cyber, and “Smartization” of Ammunition. Also, they involve bringing in new technologies, improving existing systems, and making important parts of the country.

The Compendium would help the Indian Army modernise with solutions made in India. This would help build a stronger and more “Atmanirbhar Bharat.” It was said that the Indian Army will work with industry and academia through research and development programmes like iDEX, Technology Development Fund (TDF), and Army Technology Board (ATB).