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Source: This post on the Third Edition of INDUS-X Summit has been created based on the article “Third edition of INDUS-X Summit concludes in California”, published in PIB on 13th Sep 2024.
Why in news?
Recently, the Third Edition of the INDUS-X Summit was held on 9-10 September 2024 in California.
Key Highlights of the Third Edition of INDUS-X Summit
| Aspects | Description |
| About | 1. It was held on 9-10 September 2024 in California. 2. Organised by: U.S.-India Strategic Partnership Forum (USISPF) and Stanford University. |
| Aim | To advance the joint defence innovation ecosystem between India and the USA. |
| Participation | Participants included representatives from defence industries, investment firms, startups, academia, think tanks, accelerators, and policymakers from both nations. |
| Points of discussion | 1. Future technology trends in defence. 2. Capacity building for startups and MSMEs. 3. Funding opportunities for defence innovations. 4. Strengthening defence supply chains between India and the USA. |
| What happened at the summit | 1. A Memorandum of Understanding (MoU) was signed between India’s Innovations for Defence Excellence (iDEX) and the U.S. Department of Defense’s Defence Innovation Unit (DIU). The MoU aims to enhance cooperation in defence innovation. It focuses on deepening collaboration among industry, research, and investment stakeholders. 2. Announcement of A new challenge under the INDUS-X framework to foster new defence technologies was announced. 3. INDUS-X Impact Report was released documenting the initiative’s progress since June 2023. 4. The official INDUS-X webpage was launched on the iDEX and DIU websites. |
| Benefits | 1. It allowed startups and MSMEs to showcase cutting-edge defence technologies. 2. It created opportunities for joint innovation in areas critical to defence. |
About INDUS-X
| Specifications | Details |
| Full Form | India – U.S. Defense Acceleration Ecosystem (INDUS-X) |
| Launched in | June 2023 |
| Aim | To expand strategic technology partnership and defense industrial cooperation between governments, businesses and academic institutions of India and US. |
| Led by | India’s Innovations for Defense Excellence (iDEX) and the Office of the Secretary of Defense (OSD) |
| Activities | INDUS-X will organize several initiatives such as joint prize challenges for start-ups, roundtable events, mentor-protege initiatives between major primes and startups, formation of a Senior Advisory Group among others. |
| Significance | This initiative builds on a commitment by the U.S. and Indian National Security Advisors in January 2023. They committed to launch an “Innovation Bridge” to connect U.S. and Indian defence start-ups as part of the U.S.-India initiative on Critical and Emerging Technology(iCET) |
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