The Codissia Defence Innovation and Atal Incubation Centre (CDIIC) has signed a Memorandum of Understanding with the Indian Air Force (IAF) at the Aero India 2021, held in Bengaluru recently.
The aim was to find solutions for repair and overhaul/indigenisation of parts, sub-assemblies, assemblies, aggregates, LRUs, etc for aircraft of the IAF and to provide mentoring to the startup companies incubated at CDIIC, according to a press release from the CDIIC.
The press release said that the CDIIC participated in various events at Aero India 2021, including the startup marathon 2021, organised by the Defence Innovation Organisation
It was learnt during the discussions that the Ministry of Defence plans to pump in around ₹ 1,000 crore in defence-based startups under the iDEX initiative and support MSMEs to take up indigenisation projects under Atma Nirbhar Abhiyan .
The CDIIC team also had an interaction with B. Elangovan, Senior General Manager, Tamil Nadu Industrial Development Corporation (TIDCO).
The TIDCO has expressed interest to join hands with Codissia for defence manufacturing related projects and is ready to invest ₹ 250 crore, the release said.
