US Small Business Administration Delegation Visits iDEX-DIO in New Delhi
A US delegation led by the 27th administrator of the US Small Business Administration (SBA) Isabel Casillas Guzman visited Innovations for Defence Excellence-Defence Innovation Organisation, department of defence production, and witnessed the techno-showcase organised by iDEX-DIO at IIT Delhi on August 12. The delegation interacted with the Indian side led by joint secretary (defence production), Amit Satija.
An overview on iDEX was presented to the US delegation, highlighting how iDEX has been able to create a robust defence innovation ecosystem by fostering the development of deep-tech technologies by engaging with startups and MSMEs. Guzman commended the start-up showcase and the way the iDEX scheme has galvanised the defence innovation ecosystem in India. She said that SBA was looking forward to interact with iDEX and its startups during the forthcoming summit to explore collaborative avenues.
The US SBA is an independent agency of the federal government, offering a range of financing options, from micro lending to debt and equity investment capital, to support small businesses. Both sides also lauded the INDUS-X (India-US Defence Acceleration Ecosystem) initiative which is strengthening the technology partnership and defence industrial cooperation between the two countries. The key initiatives under INDUS-X include joint innovation projects in critical domains and the capacity building of startups.
iDEX has successfully fostered a burgeoning community of start-ups within the defence sector. It is currently engaged with over 450 start-ups and MSMEs. Till now, procurement worth over Rs 2,300 crore, has been cleared by the MoD for the successful iDEX projects.