Innovations for Defence Excellence (iDEX)

27.06.2024

Innovations for Defence Excellence (iDEX)

Why in the news?

Recently, the 350th contract under the Innovations for Defence Excellence (iDEX) was signed with Space Pixel Technologies Pvt Ltd for miniaturized satellites.

About Innovations for Defence Excellence (iDEX):

• It is the flagship initiative of the Union Ministry of Defence.
• It aims to achieve self-reliance and foster innovation and technology development in Defence and Aerospace By engaging Industries including MSMEs, start-ups, individual innovators, R&D institutes and academia.
• It has partnered with leading incubators in the country to provide hand holding, technical support and guidance to the winners of iDEX challenges.
• It has launched 11 editions of the Defence India Start-up Challenge and recently unveiled the Acing Development of Innovative Technologies with iDEX (ADITI) scheme to promote innovations in critical and strategic defense technologies.
• It was the recipient of the Prime Minister Award for Public Policy in Innovation Category in 2021 and is currently engaged with over 400 start-ups and MSMEs.

Funding of iDEX:

• It 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.
• It functions as the executive arm of DIO, carrying out all the required activities, while DIO will provide high-level policy guidance to iDEX.
• Under iDEX, financial support is provided to Start-ups/MSMEs/individual innovators and Partner Incubators through DIO.

                                                                           Source: The Hindu

Ques :- Consider the following statements with reference to the Innovations for Defence Excellence (iDEX):

1. It is the flagship initiative of the Union Ministry of Defence.

2. It aims to achieve self-reliance and foster innovation and technology development in Defence and Aerospace.

3. It will be funded and managed by a Defence Innovation Organization.

How many of the above statements are correct?

A.Only one

B.Only two

C.All three

D.None

Answer C