iDEX-DIO signs 100th innovation contract

In April 2018, Prime Minister Narendra Modi launched a project named iDEX (Innovations for Defence Excellence), billed as the Ministry of Defence’s (MoD’s) flagship for technological innovation. iDEX was to encourage start-ups and provide them a platform for co-creation and co-development in defence and aerospace technology. iDEX signed its 100th contract in New Delhi with a firm called Pacify Medical Technologies. Speaking on the occasion, Defence Secretary Ajay Kumar said, “We are confident that iDEX will make India the biggest defence innovation ecosystem in the world.” iDEX is funded and managed by the “Defence Innovation Organization” (DIO), which is a not-for-profit company as per Section 8 of the Companies Act 2013. Its founder members are the two biggest defence public sector undertakings (DPSUs): Hindustan Aeronautics (HAL) and Bharat Electronics (BEL).