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Source: PIB
What is the News?
The Defence Minister will launch Defence India Startup Challenge(DISC 5.0).
About Defence India Startup Challenge:
- Defence India Startup Challenge has been launched by the Innovations for Defence Excellence (iDEX), Defence Innovation Organisation(DIO) with support from the Ministry of Defence and Atal Innovation Mission.
- Aim: To support Startups/MSMEs/Innovators to create prototypes and/or commercialize products/solutions in the area of National Defence and Security.
- DISC 5.0: The fifth edition of DISC will have more challenges than the first four DISC editions taken together.
About SPARK:
- SPARK or Support for Prototype & Research Kickstart (in Defence) is the scheme for funding startups selected through the DISC challenges.
- Applicants showing capability, intent and promise to be able to produce functional prototypes or to productize existing technologies will be awarded up to Rs. 1.5 crores in the form of grant/equity/debt/other relevant structures.
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