What’s in the news?
- Defence minister Rajnath Singh has launched the fifth edition of Defence India Startup Challenge (DISC 5.0) under Innovations for Defence Excellence – Defence Innovation Organisation (iDEX-DIO).
- The challenge is meant to achieve self-reliance and foster innovation and technology development in the defence and aerospace sectors.
- The launch of DISC 5.0 comes three years after the launch of DISC 1.0. iDEX initiative was launched by Prime Minister Narendra Modi in April 2018.
- The launch of DISC 5.0 is a massive leap towards leveraging the startup ecosystem to develop India’s defence technologies, equipment design and manufacturing capabilities.
- It will encourage startups to become more attuned to innovative concepts and inculcate the approach of creative thinking in India’s budding entrepreneurs.
- In order to engage smaller enterprises, startups and innovators to supply the Indian military with innovative and ingenious technological solutions, the Innovations for Defence Excellence (iDEX) framework was formulated and approved by the Ministry of Defence.
- iDEX is funded and managed by the “Defence Innovation Organisation (DIO)” formed as a “not for profit‟ company as per Section 8 of the Companies Act 2013 for this purpose.
- iDEX–DIO with the primary objective of self-reliance and indigenization in the Defence & aerospace sector of the country bolsters the “Atmanirbhar Bharat Abhiyan” of the Government.