Deeptech Startups In Defence Sector Need Handholding
Information and clarity in funding to marketing the solution; access to government departments, is the need of the hour, says former Secretary, Dept of Defence (R&D)
Dr Satheesh Reddy, President - AeSI, Major General Ajay Misra, GOC – TASA, alongwith CII members Kris Gopalakrishnan and Rahul Garg, releasing a report during ICONN Summit, in Hyderabad on Tuesday
Hyderabad: Despite the availability of various Central government schemes that support startups working on innovation for the Defence sector, they are facing various challenges including need for hand-holding, said Dr G Satheesh Reddy, the former Secretary, Department of Defence - R&D.
Addressing the ICONN Summit 2024, organised by CII’s (Confederation of Indian Industries) Centre of Excellence for Innovation, Entrepreneurship and Startups, in Hyderabad on Tuesday, Dr G Satheesh Reddy, who is also the current president of Aeronautical Society of India, said that there is a gap in handholding and clarity in information such as quality standards or certification process.
“Handholding, from funding to marketing, is a major requirement for DeepTech startups. Moreover, startups are not aware about whom to connect with in government departments so as to understand their requirements for which solutions can be developed. Also, startups that have demonstrated capabilities are finding tender participation requirements as a roadblock, along with quality standards and certification process for startup innovated products lacking clarity,” Dr Reddy added. Highlighting the support extended by the Centre to startups working on solutions for the Defence sector, he said that about 300 startups have been funded under government schemes, wherein the fund quantum has been increased from Rs1 crore to Rs10 crore.
In addition, the technology development funding has been increased to Rs50 crore, which covers up to 90 per cent of the project. Moreover, the revenue turnover of startups for government tenders has been relaxed. The Guest of Honour, Major General Ajay Misra, General Officer Commanding, Telangana and Andhra Sub Area, spoke about iDEX (Innovations for Defence Excellence), a platform that ad vances innovation and technology development in Defence by engaging startups.
Pointing out that Defence sector needs to be self-reliant, he said that partnership in any form has to be taken forward in areas of technology to supply chains.
