Private equity firm ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/skegen-asset-management” target=”_blank”>SKEGEN Asset Management signed a memorandum of understanding (MoU) with the Ministry of Defence’s flagship initiative Innovation for Defence Excellence ( ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/idex” target=”_blank”>iDEX) on Monday worth Rs 500 crore. Per the MoU, the investment will aim to accelerate the growth of design, product development, and manufacturing-led enterprises across industries in India.
Of the Rs 500 crore, SKEGEN will provide Rs 360 crore to support two iDEX winners — ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/sagar-defence-engineering” target=”_blank”>Sagar Defence Engineering and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/zeus-numerix” target=”_blank”>Zeus Numerix. The PE firm will aid the two startups with innovation and…
