Union Minister Ashwini Vaishnaw Launches ‘StartUps For Railways’ Policy – Union Railways Minister Ashwini Vaishnaw launched Railway Innovation Policy “StartUps for Railways” in Rail Bhavan, New Delhi. 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 innovator will be given a Grant of up to Rs. 1.5 Crore on an equal sharing basis with provision of milestone-wise payment.
- 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).
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