Defense Minister pledges innovation fund to encourage defence start-ups
Tuesday, February 14, 2017, 3:43 PM
Defence minister Manohar Parrikar said, the government will create a new technology innovation fund for defence aerospace aimed to help start-ups. “We are initiating a defence innovation fund with an initial contribution from HAL and BEL,” Parrikar said referring to Hindustan Aeronautics Limited (HAL) and the Bharat Electronics Limited (BEL). The focus will be on start-ups to enable a culture of innovation, he added.