Home News First INDUS-X Investors Meet held in Delhi ahead of 2+2 Indo-US Ministerial...

First INDUS-X Investors Meet held in Delhi ahead of 2+2 Indo-US Ministerial Dialogue

On November 8, 2023, the Innovations for Defence Excellence (iDEX), an initiative under the Department of Defence Production within the Ministry of Defence, in collaboration with the US Department of Defence, organized the inaugural INDUS-X Investors Meet in New Delhi. This event served as a precursor to the 2+2 Indo-US Ministerial Dialogue. Additionally, the INDUS-X Educational Series, also known as Gurukul, was introduced during the same occasion. The US delegation was headed by Mr. Doug Beck, Director of the Defense Innovation Unit (DIU) at the US Department of Defense, while the Indian delegation was led by Mr. Vivek Virmani, Principal Officer (G) & Chief Operating Officer/iDEX-DIO. The event was coordinated by the US India Strategic Partnership Forum (USISPF), IndusTech, and mach33.aero, which is a part of Social Alpha.

The inaugural INDUS-X Investors Event successfully attracted the attention of investors interested in startups and micro, small, and medium enterprises (MSMEs) operating within the defense sector. It shed light on the growing opportunities presented by the INDUS-X initiative. This interactive gathering brought together various stakeholders, including startups, MSMEs, investors, incubators, and industry representatives from both sides, providing a platform to engage in discussions about collaborative agendas and the potential opportunities ahead.

The event featured targeted panel discussions with a distinguished audience of 50 thought leaders, comprising individuals from various backgrounds such as start-ups, investors, government officials, and business leaders within the defense industry. These panels delved into the topic of ‘Investment Opportunities in the Defence Sector,’ offering detailed insights into the establishment of a stable and sustainable commercial framework for defense collaboration and co-production.

During the Investor-Start-up Connect session, prominent Indian and US investors, venture capitalists (VCs), and defense-oriented start-ups shared their perspectives regarding their strategies for the defense sector and their respective expectations. In addition, a few chosen Indian and US start-ups had the opportunity to introduce themselves and showcase their innovations to the distinguished audience.

The Gurukul initiative is designed to assist innovators and startups in navigating the defense ecosystems of both the United States and India. The Gurukul (Education) series will feature sessions for startups and innovators, facilitated by experts from both countries, including government officials, corporate leaders, industry associations, and incubators/accelerators. The inaugural session commenced with an engaging fireside chat between the Director of DIU and the COO of DIO, focusing on the prospects available to defense startups through the INDUS-X initiative and the path forward.

Mr. Beck commended the brainstorming session centered on establishing a Joint Innovation Fund, in addition to the panel discussions addressing crucial matters. He expressed contentment with the positive reception of the joint IMPACT challenges and expressed confidence that the Gurukul Educational Series would effectively assist startups in navigating the defense ecosystems of both India and the USA.

Mr. Virmani further emphasized that the groundbreaking Investor Connect event would pave the way for enhanced collaboration within the realm of defense innovation. He also concurred that the subjects chosen for the Gurukul program would hold significance for all parties involved, particularly startups. Both the Director of DIU and the COO of DIO extended invitations to startups and innovators to submit their applications for the joint IMPACT challenges and encouraged their participation in the Gurukul Educational Series.

The India-U.S. Defense Acceleration Ecosystem (INDUS-X) was initiated in June 2023 during the State Visit of the Honorable Prime Minister of India to the United States. Its primary objective is to enhance the strategic technology partnership and foster defense industrial cooperation among the governments, businesses, and academic institutions of both India and the United States. INDUS-X will function as a bridge for defense innovation, encompassing various elements such as Joint Challenges, a Joint Innovation Fund, engagement with academia, connections between industry and startups, private sector investments in defense projects, guidance and mentorship from experts, and the pursuit of specialized technology projects, among other activities.


Please enter your comment!
Please enter your name here