BAKU, Azerbaijan, April 23. Indian Defense Ministry will provide financing for startups that can provide solutions to needs of Artificial Intelligence (AI), advanced imaging, sensor systems, big data analytics, autonomous unmanned systems and secured communication systems, Trend reports, citing Indian media.
In this regard, the sixth edition of the Defence India Startup Challenge was launched by Minister of Defense Rajnath Singh within the ongoing Innovations for Defence Excellence (iDEX) program.
The initiative is aimed at supporting the projects requiring support beyond Rs 1.5 crore and up to Rs 10 crore. Apart from the three services and some Defense Public Sector Undertakings (DPSUs), which have participated in earlier editions, this time the newly-formed seven defense companies, Indian Coast Guard and organisations under the Ministry of Home Affairs will also participate.
“The iDEX program has provided an opportunity to our science and technology professionals to understand futuristic technologies such as AI, augmented reality, block-chain and space technologies,” the minister said.