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Immediate Release

INDUS-X Investor Strategy Session Harnesses Private Capital for Start-ups

Department of Defense Spokesperson Lt. Col. Martin Meiners provided the following readout: 

The U.S. Department of Defense (DoD) and the Indian Ministry of Defence (MoD) today participated in the first investor strategy session of the India-U.S. Defense Acceleration Ecosystem (INDUS-X).

The session in New Delhi occurred in conjunction with the fifth U.S.-India 2+2 Ministerial Dialogue, led by Secretary Austin, Secretary Blinken, and their counterparts. The U.S.-India Strategic Partnership Forum (USISPF) and IndUS Tech Council organized the investor session to mobilize capital and sustain collaboration between both countries' private sectors. At the session, Defense Innovation Unit (DIU) Director and Senior Advisor to the Secretary of Defense Douglas A. Beck addressed investors alongside Innovations for Defence Excellence (iDEX) Chief Operating Officer Vivek Virmani of the Indian MoD. Beck and Virmani joined investors and start-ups to discuss harnessing private capital to drive defense innovation and equip both countries' armed forces with the capabilities to defend a free and open Indo-Pacific.

Launched in June against the backdrop of Prime Minister Modi's visit to the White House, INDUS-X is strengthening ties between both countries' defense industrial ecosystems to make them more innovative, accessible, and resilient. By enabling partnerships between both countries' businesses, investors, and academic institutions, this initiative builds on a commitment by the U.S. and Indian National Security Advisors in January 2023 to launch an "Innovation Bridge" to connect defense start-ups from the two countries as part of the U.S.-India initiative on Critical and Emerging Technology (iCET). 

At the investor session, DIU and iDEX also announced the launch of the INDUS-X Gurukul Education Series – monthly events where government officials and private sector leaders will meet with U.S. and Indian start-ups to discuss business and technology development, regulatory regimes, and investor pitches. The Education Series will inform start-ups of new programs and opportunities available through INDUS-X and be tied to priorities established by both governments, as well as other areas of interest outlined in the iCET agenda and INDUS-X Fact Sheet.

This event builds on recent collaboration between DIU and iDEX, who recently opened applications for joint challenges that enable start-ups in both countries to develop technological solutions for shared defense challenges. Aligned with the Roadmap for U.S.-India Defense Industrial Cooperation, the challenges will culminate in financial awards for the most promising technology along with potential procurement opportunities.