And 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.
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, by the two founder members i.e. Defence Public Sector Undertakings (DPSUs) - HAL & BEL. iDEX will function as the executive arm of DIO, carrying out all the required activities while DIO will provide high level policy guidance to iDEX.
Facilitate rapid development of new, indigenized, and innovative technologies for the Indian defence and aerospace sector, to meet needs for these sectors in shorter timelines
Create a culture of engagement with innovative startups, to encourage co-creation for defence and aerospace sectors
Empower a culture of technology co-creation and co-innovation within the defence and aerospace sectors.