About iDEX

• The iDEX initiative of the Department of Defence Production under the Ministry of Defence was launched by the Prime Minister in April 2018.
•  iDEX aims at 

• Creation of an ecosystem to foster innovation and technology development in Defence and Aerospace by engaging Industries including MSMEs, start-ups, individual innovators, R&D institutes & academia.
• Provide them grants/funding and other support to carry out R&D which has good potential for future adoption for Indian defence and aerospace needs.
• Provide the latest technological innovations for specific challenges experienced in operational environments through co-development and co-production of innovative solutions.
• 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 for this purpose.
• iDEX initiative is a decisive step towards achieving Self-reliance and is one of the most effective and well-executed defence Start-up ecosystems in the true spirit of the Atma Nirbhar Bharat. 

Why in the news?

• The Department of Defence Production, Ministry of Defence has approved a central sector scheme viz. Innovations for Defence Excellence (iDEX)with budgetary support of Rs. 498.80 crore for the next 5 years from 2021-22 to 2025-26. 
• The objective of the scheme is to provide financial support to nearly 300 Startups/ MSMEs/ individual innovators and about 20 Partner incubators through Defence Innovation Organisation (DIO).

Reference:

1. https://pib.gov.in/PressReleasePage.aspx?PRID=1739954