Introduction:
The landscape of international collaboration in defense and deep technology is rapidly evolving, with strategic partnerships shaping the future of innovation.India-U.S. Defense Acceleration Ecosystem (INDUS X) launched by the U.S. Department of Defense (DoD) and Indian Ministry of Defense (DoD) in June 2023 is a case in point. The INDUS X initiative brings together diverse ecosystem actors, including government partners, startups, investors, and ecosystem-enabling organizations to further Indo-US innovation ties. At the forefront of this evolution (external link) was the IndusX Investors Summit, held in Delhi on November 8, 2023. This event, aligning with the fifth U.S.-India 2+2 Ministerial Dialogue, marked a significant step in the growing relationship between the United States and India, with FedTech playing a critical role in bridging these two innovative powerhouses.
Overview of the Summit:
The IndusX Investors Summit was a dynamic event focused on connecting prime contractors, investors, and startups. A significant number of deep tech investors, primes, and key government bodies such as Innovations for Defense Excellence (iDEX), Defense Innovation Unit (DIU), the US Embassy, and the Indian Ministry of Defense participated. The event saw a turnout of more than 70 participants, highlighting the keen interest in US-India collaboration. Key discussions at the summit included the US-India Joint Innovation Fund, with notable remarks from Doug Beck (Director, DIU), Vivek Virmani (Planning Officer and COO, Defense Innovation Organization), showcasing the depth of engagement across sectors.
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FedTech's Active Engagement:
FedTech, a pioneer in deeptech acceleration, has been expanding its presence in international markets, exemplified by its active participation at the IndusX Investors Summit. Earlier this year, our involvement in the region was highlighted by Ben Solomon's participation as a panelist at an IndusX Summit event held during Indian Prime Minister Modi’s state visit to the US in June 2023 . This summit was a continuation of our deepening engagement to further Indo-US innovation collaboration.
What FedTech Did at the Summit:
At the summit, FedTech engaged in three key events:
Closed-door investor roundtable
Startup pitching
Launch of the Gurukul Series
During these events, we shared our insights and learned about the current ecosystem, including the focuses of VCs and offerings of startups. This active participation helped us deepen our understanding of US-India innovation collaboration needs and opportunities.
What We Achieved:
Our engagement at the summit allowed us to deepen our ties with key actors in the ecosystem. This experience has built momentum for our upcoming participation in the Carnegie Global Technology Summit in Delhi from December 4-6, 2023. There, FedTech will host a session on furthering the US-India Defense Innovation Collaboration, continuing our commitment to this vital partnership.
Reflecting and Projecting:
The IndusX Investors Summit was not just an event; it was a testament to the potential of Indo-US partnerships in shaping the future of defense and technology. The session addressed the need to harness private capital for defense innovation and equipping armed forces with capabilities to defend a free and open Indo-Pacific. The launch of the INDUS-X Gurukul Education Series was a key highlight, reflecting the commitment to informing startups of new programs and opportunities through INDUS-X.
About the Author:
Asmod Karki, serving as a Senior Associate at FedTech, helps build innovation ecosystems- including fostering international technology collaboration. His role at FedTech involves deep engagement in US-India innovation partnerships, underpinning the strategic initiatives that drive these two nations closer in technological advancements.