Applicants are required to provide the following information in the application:
Start-ups, as defined and recognized by Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India.
Any Indian company incorporated under the Companies Act 1956/2013, primarily a Micro, Small and Medium Enterprises (MSME) as defined in the MSME Act, 2006.
Individual innovators are also encouraged to apply (research & academic institutions can use this category to apply).
The applications will be screened by a duly constituted high-powered committee of defence and technology experts for the purpose of screening and selection of applications for the iDEX Challenge.
The selected applications will be funded up to ₹1.5 crores in the form of equity/other relevant structures. The funds will be disbursed in tranches based on the milestones decided by a high-powered selection committee.
Apart from the fund, selected applicants may also be given entry to accelerator programs run by iDEX partners, where they will be supported in technology and business development through mentorship under the innovation and entrepreneurship experts. The selected applicants may also be supported in terms of access to defence testing facilities and experts for their product/technology development.
Since the focus of the program is to facilitate creating of prototypes and bringing of products/technologies to market (defence or otherwise), applicants will be encouraged to spend on: