First INDUS-X Investors meet held in Delhi ahead of 2+2 Indo-US Ministerial Dialogue
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nnovations for Defence Excellence (iDEX) under the Department of Defence Production, Ministry of Defence and US Department of Defence, organised the maiden INDUS-X Investors Meet today as a pre-cursor to the 2+2 Indo-US Ministerial Dialogue.
The INDUS-X Educational Series (Gurukul) was also launched during the event.
Doug Beck, Director of Defence Innovation Unit (DIU), US DoD, led the US delegation and Vivek Virmani, PO (G) and COO/iDEX-DIO, led the Indian delegation.
The event was coordinated by the US-India Strategic Partnership Forum (USISPF), IndusTech, and mach33.aero (Social Alpha).
The first-ever INDUS-X Investors Event evinced the interest of investors in the start-ups and MSMEs operating in the defence sector and the emerging opportunities under the INDUS-X initiative.
The interactive meeting brought all the stakeholders viz startups/MSMEs, investors, incubators, and industry from both sides under one roof to discuss the collaborative agendas and opportunities thereon.
The event also had focused panel discussions with a select audience of 50 thought leaders, including start-ups, investors, government officials and business leaders from the defence industry.
The panel discussed 'Investment Opportunities in the Defence Sector', elaborating upon establishing a sustainable commercial foundation for defence collaboration and co-production.
In the Investor-Start-up Connect session, leading Indian and US investors, VCs and defence start-ups offered their insights regarding their plans for the defence sector and their expectations from each other. Selected Indian and US startups also presented their profiles and innovations to the marquee audience.
The Gurukul initiative is aimed at helping innovators /startups to navigate the defence eco-systems of the US and India. The Gurukul (Education) series will have sessions for the startups/innovators by experts from both sides including government officials, corporate leaders, industry forums, incubators/accelerators etc.
The kick-off session was launched with an interesting fireside chat between the Director, DIU and the COO, DIO highlighting the opportunities for the defence start-ups under the INDUS-X initiative and the way ahead.
Beck appreciated the brainstorming session on setting up a Joint Innovation Fund besides the panel discussions on critical issues.
He expressed satisfaction with the response to the joint IMPACT challenges and was confident that the Gurukul Educational Series would help the startups navigate the defence ecosystems of India and the USA.
Virmani added that the path-breaking Investor Connect event would lead to increased collaboration in the field of defence innovation.
"2+2 is at a higher level but definitely INDUS-X was also held at a time when the Indian Prime Minister was already visiting there. The INDUS-X had featured in the joint declaration of the US President and Indian PM in June. During G20 when the US President had come for a state visit, the joint declaration included iDEX and INDUS-X. So, it is natural that 2+2 will also take cognisance," said Vivek Virmani, COO/iDEX-DIO, Ministry of Defence.
He also agreed that the topics finalised under Gurukul will be relevant for all stakeholders, especially the startups. Both Director/DIU and COO/DIO invited the startups and innovators to apply in the joint IMPACT challenges and to participate in the Gurukul Educational Series.
India-US Defense Acceleration Ecosystem (INDUS-X) was launched in June 2023 during the State Visit of Prime Minister Narendra Modi to the US to expand strategic technology partnership and defence industrial cooperation between governments, businesses, and academic institutions of India and US.
INDUS X will be a defence innovation bridge that would inter-alia include Joint Challenges, Joint Innovation Fund, Academia engagement, Industry-startup connect, investment by private entities in defence projects, mentoring by experts, niche technology projects etc.
✔️ First INDUS-X Investors meet held in Delhi ahead of 2+2 Indo-US Ministerial Dialogue
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