Defence Start-Ups & Encouraging Culture of Innovation

Government of India has launched ‘Start-up India’ initiative in January 2016, which aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive for growth of start-ups.  The data of start-ups recognized by Department of Industrial Policy & Promotion (DIPP), is maintained by ‘Start-up India’ and at present, there is no recognized start-up in the Defence sector.  However, in order to encourage start-ups and give them an opportunity to contribute in the defence production, Ordnance Factory Board (OFB) and all Defence Public Sector Undertakings (DPSUs) have been mandated to follow the guidelines of Ministry of MSME regarding ‘Relaxation of norms for start-ups and Medium & Small Enterprises in public procurements on prior experience – prior turnover criteria’. ...........Members Log in or Subscribe to Read more------------

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