Union Minister Ashwini Vaishnaw Launches ‘StartUps For Railways’ Policy – Aiming at bringing about innovative solutions to problems like rail fracture, reduction of time between two trains and other passenger related issues, Railway Minister Ashwini Vaishnaw has launched “StartUps for Railways”, an important initiative in the field of innovation. Under the ‘StartUps For Railways’ Policy, innovators will be provided with a grant of up to Rs. 1.5 Crore on an equal sharing basis with milestone-wise payment provision. The Railway Innovation policy will help in offering start-ups a good opportunity to connect with the Indian Railways.
Railway Innovation Policy: Features
The process including floating the problem statement to the development of prototype will be online and will be transparent and objective.
Railways will give enhanced funding to scale up deployment on the successful performance of prototypes. Railways will also conduct trials of prototypes. The innovator will have the Developed Intellectual property rights (IPR).