New Delhi, 12 January 2018: In a significant boost to the startups working in the defence sector, Defence Minster Smt. Nirmala Sitharaman today promised to create a match-making platform for the startups soon, along with the creation of common testing facilities for them at affordable prices to take care of their research and development and cost concerns.
The minister also ensured that the government will facilitate an ecosystem for startups' tie-ups with the producers at an extensive meeting with a delegation of FICCI defence startups led by Secretary General Dr. Sanjaya Baru.
She invited the startups to participate in an event to be held in Chennai on January 18, where besides the armed forces and large procurers, the policy makers and regulators will also be present, for understanding the needs of the defence and look at the possibilities of future tie-ups.
The minister said that the new defence procurement norms will take care of the concerns of the startups.
FICCI on its part, is setting up a Society for Indian Defence Startups (SIDS) to create an institutional support mechanism for development and funding with the help of government and industry.
Dr. Baru said that FICCI was already engaged with startups in identifying their concerns and apprehensions and was also helping them with organised capacity building and outreach programmes.
FICCI is also working with defence PSUS and DRDO labs to set up a process to nurture MSMEs with critical expertise and technologies.
About a dozen defence startups made their presentations before Smt. Sitharaman and discussed their problems with her, some of which she resolved during the discussion itself.
FICCI MEDIA DIVISION
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