FICCI sets up Indian Defence Startups Society

Defence Minster Nirmala Sitharaman has assured of a match-making platform for the startups soon, along with the creation of common testing facilities for their research and development as well as cost concerns.

The minister said the government will facilitate an ecosystem for startups’ tie-ups with the producers at an extensive meeting with a delegation of FICCI defence startups.

She stressed 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.

FICCI was already engaged with startups in identifying their concerns and apprehensions and was also helping them with organised capacity building and outreach programmes, said the federation Secretary General Dr. Sanjaya Baru on 8 Jan 2018.

FICCI is also working with defence PSUS and DRDO labs to set up a process to nurture Micro, Small and Medium Enterprises (MSMEs) with critical expertise and technologies. fii-news.com