Innovations for Defence Excellence (iDEX) – Key Facts

The Department of Defence Production which comes under the Ministry of Defence has given its approval for a central sector scheme named ‘Innovations for Defence Excellence (iDEX)’ and a Rs. 498.80 crore budgetary supports has been provided for the next 5 years starting from 2021-22 to the year 2025-26.

Key Points

• The primary aim of this scheme is to provide financial support to around 300 MSMEs, Start-ups, and individual innovators as well as around 20 partner incubators through the Defence Innovation Organisation (DIO).

Criteria to avail the grants of Support for Prototype and Research Kickstart (SPARK)

To avail the grants of Support for Prototype and Research Kickstart (SPARK) under the mechanism of iDEX, some eligibility criteria will have to be followed. They are Start-ups which have been recognized and defined by Department of Industrial Policy Promotion (DIPP). Any Indian company which has been incorporated under the Companies Act, Micro, Small and Medium Enterprises (MSME) which have been defined in the MSME Act, 2006. Individual innovators (research and academic institutions) are also encouraged to apply.

Criteria for Incubators

To avail grants as an iDEX Partner Incubator, certain eligibility criteria has to be followed.  The applicant must be registered in India as a legal entity in private, public or PPP mode. They should have received grant or establishment support from a Ministry of the Government of India The incubator must have been in operation for at least 3 years and should have experience of supporting minimum 25 start-ups. In the past 3 years these incubators should have successfully graduated at least 5 start-ups. The incubators should have experience of partnering with the research and academia.

Month: Current Affairs - July, 2021