Rs 10 crore grant for start-ups under DRDO's TDF scheme
cityairnews
Sep 3, 2021 09:03
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Hyderabad, Sep 3 (IANS) Start-ups can compete for grant funding of up to Rs 10 crore each for developing high-technology solutions against specific requirements posted by Defence Research and Development Organisation (DRDO) under its Technology Development Fund (TDF) scheme.
T-Works and T-Hub on Friday co-hosted a high-level DRDO team led by Director Nidhi Bansal to orient start-ups and MSMEs on TDF scheme.
Bansal said start-ups working with T-Works and T-Hub can make efficient use of the funds awarded by DRDO-TDF. "In fact, 20 per cent of the awarded funds may be used by start-ups to utilise services of supporting incubators," she said.
The TDF has been established to promote self-reliance in defence technology as a part of 'Make in India' initiative. A programme of the Defence Ministry, it is executed by the DRDO to meet the requirements of the three services, defence production, and the DRDO. The scheme encourages participation of public/private industries, with a preference for start-ups and MSMEs, so as to create an ecosystem for enhancing cutting edge technology capability in the defence sector.
Telangana's Principal Secretary, Industries and ITE&C, Jayesh Ranjan, said that the state government has always been proactive in facilitating unique Central government schemes such as DRDO-TDF to reach start-ups.
"We have T-Works, T-Hub, We-Hub, and RICH as part of our innovation ecosystem to drive start-up growth in the state and country," he said.
T-Works, India's largest prototyping centre, will enable start-ups to develop products which meet stringent quality standards of the DRDO through access to industry-grade equipment and in-house technical experts. "The facility will lower barriers for participating companies by providing high-end prototyping techniques at affordable prices all under one roof in our 78,000sft centre in Hi-tec City," said Sujai Karampuri, CEO T-Works and Director Electronics, EV and ESS in the Telangana Government.
Representatives of 50 start-ups and MSMEs and senior officials attended the meet.
