Amity Innovation Incubator Selected as Key Partner for iDEX Initiative by India's Ministry of Defence
NOIDA, India, Dec. 4, 2023 /PRNewswire/ — Amity Innovation Incubator (AII), a prominent hub nurturing innovation and entrepreneurship, proudly unveils its appointment as a partner incubator for India’s Ministry of Defence’s groundbreaking Innovation for Defence Excellence (iDEX) initiative.
The iDEX initiative, a crucial step in India’s quest for self-reliance in defence and defence production, aims to facilitate the rapid development of new, indigenised, and innovative technologies for the Indian defence and aerospace sector. Acknowledging the paramount significance of innovation and technological advancements, the Ministry of Defence has actively involved a spectrum of stakeholders, including research and development institutes, academia, industries, start-ups, and individual innovators.
Dr. Aseem Chauhan, President of Amity Innovation Incubator, expressed his gratitude to the Honourable Defence Minister Rajnath Singh and the visionary leaders spearheading the Defence and iDEX initiatives. “Their trust and confidence in us is an immense privilege. We are deeply grateful and honoured, to be part of the select few.” Stressing the importance of this acknowledgment, he further emphasized, “Amity Innovation Incubator is enthusiastic about contributing to the iDEX initiative and playing a pivotal role in empowering a culture of technology co-creation and co-innovation within the defence and aerospace domains.”
Since India’s Independence, the primary objective has been to achieve self-reliance in the field of defence and its production. As the world’s largest defence equipment importer, the country plans to spend around USD 220 Billion in the next decade for the modernization of its armed forces, further giving impetus to initiatives like iDEX, which become instrumental in achieving these goals. The Ministry of Defence has instituted iDEX to foster a culture of innovation and technology development in defence and aerospace by engaging with industries, including MSMEs, start-ups, individual innovators, R&D institutes, and academia. iDEX aims to extend grants, funding, and comprehensive support for research and development endeavors geared toward meeting the future requirements of India’s defence and aerospace sectors.
The iDEX initiative will be funded and managed by the Defence Innovation Organization (DIO), a ‘not-for-profit’ company formed under the Companies Act 2013. DIO, with Defence Public Sector Undertakings (DPSUs) – HAL & BEL as founder members, will provide high-level policy guidance to iDEX, which will function as the executive arm carrying out all required activities. iDEX will collaborate closely with partner incubators, keeping an eye on startups, MSMEs and innovators to invent, commercialise and implement technologies in the Indian military and defence PSUs.
Amity Innovation Incubator eagerly anticipates collaborating with the iDEX initiative, aspiring to cultivate a vibrant ecosystem that nurtures innovation and significantly contributes to technological progress within India’s defence and aerospace domains.
About Amity Innovation Incubator
The Amity Innovation Incubator is a pioneering concept in the context of Indian Universities. Supported by DST, Ministry of Science & Technology, GOI, ‘Amity Innovation Incubator ‘ has in a very short time of its existence earned an enviable position for itself with start-ups that have regularly been on top of the innovation curve and have been recognized on platforms like ‘The Power of ideas’, Read Herring Global winner, Tata NEN and NASSCOM Innovation Awards to name a few.
Amity Innovation Incubator has a clear philosophy to encourage and incubate technology-based new enterprises with innovative products and services. The stringent selection process is the reason behind the success of ‘Amity Innovation Incubator’. Each business proposal/Incubation request is carefully screened on various parameters set up by Industry experts/mentors to ensure that only commercially viable and investable proposals get through.
About iDEX (Innovations For Defence Excellence)
An ecosystem to foster innovation & technology development in Defence and Aerospace by engaging innovators & entrepreneurs to deliver technologically advanced solutions for modernizing the Indian Military. iDEX will engage Industries including MSMEs, start-ups, individual innovators, R& D institutes and academia and provide them grants/funding and other support to carry out R&D development which has good potential for future adoption for Indian defence and aerospace needs.
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