Panaji, May 26 (KNN) The Innovations for Defence Excellence (iDEX) will be providing Rs 1.5 crore funding support to startups in Goa during the startup challenge hosted by the Atal Incubation Centre and Goa Institute of Management (AICGIM) on May 28 to promote entrepreneurship in the state.

This event is being hosted in collaboration with Atal New India Challenge (ANIC) for Atal Innovation Mission (AIM), Niti Aayog and iDEX for Defence Innovation Startup Challenge (DISC) and will take place at the International Centre Goa (IGG) in Dona Paula.

Speaking about the event Rajesh Joshi, CEO, AICGIM Foundation said, “Building a better startup ecosystem in Goa and India is AICGIM’s mission. Bringing these challenges, creating awareness about them in Goa and having the central government ministry representatives in Goa will give Goan SMEs, and startups exposure and also the esteemed central government departments and ministries will be able to see the innovation,  solutions and products of Goa-based ventures''.

He further explained that the primary objective of the challenge is to help create functional prototypes of products and technologies that are relevant for national security (prototyping), and spur fast-moving innovation in the India defence sector and to help new tech products and technologies find a market and early customer (commercialization) in the form of the Indian defence establishment.

The event is open to all Goa (Small and Medium-Sized Enterprises) SMEs, startups, entrepreneurs, innovators and ventures to provide solutions to the various ministries in the government of India.

The Defence India Startup Challenge has been launched by the Ministry of Defence in partnership with Atal Innovation Mission is aimed at supporting startups, MSMEs and innovators to create prototypes and commercialise products and solutions in the area of national defence and security.  (KNN Bureau)