Tuesday, September 28, 2021

Rajnath Singh to launch Defence India Startup Challenge 5.0 tomorrow

Defence Minister Rajnath Singh will launch Defence India Startup Challenge, DISC 5.0 in New Delhi tomorrow through video conferencing. DISC 5.0 will have more challenges than the first four DISC editions taken together.The launch of DISC 5.0 will be a massive leap towards leveraging the startup ecosystem to develop India’s defence technologies, equipment design and manufacturing capabilities. These challenges will also encourage startups to become more attuned to innovative concepts and inculcate the approach of creative thinking in India’s budding entrepreneurs.

Ministry of Defence has earmarked a total one thousand crore rupees for domestic procurement through Innovations for Defence Excellence (iDEX) initiative for the financial year 2021-2022. Recently, the Defence Minister had approved a budget of nearly 500 crore rupees for the next five years to support over 300 startups and foster innovation in defence & aerospace sectors. It will enable India’s defence sector to contribute significantly towards 5-trillion dollar economy goal by 2025.

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