Fluid Controls InnoTrans 2024 PromotionFluid Controls InnoTrans 2024 Promotion
APL APOLLO Steel Pipes - Powering the Future of Indian Railways
26.1 C
Delhi
Wednesday, October 9, 2024
Fluid Controls InnoTrans 2024 PromotionFluid Controls InnoTrans 2024 PromotionFluid Controls InnoTrans 2024 Promotion
APL APOLLO Steel Pipes - Powering the Future of Indian RailwaysAPL APOLLO Steel Pipes - Powering the Future of Indian RailwaysAPL APOLLO Steel Pipes - Powering the Future of Indian RailwaysAPL APOLLO Steel Pipes - Powering the Future of Indian Railways

Railway Minister launches IR Innovation Policy ‘StartUps for Railways’

Date:

Share post:

NEW DELHI (Metro Rail News): Minister of Railways Ashwini Vaishnaw has launched “StartUps for Railways” today 14th June at the Rail Bhavan in New Delhi.

This program will provide an enabling framework for motivating & encouraging Indian innovators to come forward for the development of innovative technologies, products & technological solutions. To harness technological & operational benefits offered by next-gen innovators, the Indian Railways Innovation Policy aims at providing fund support upto Rs. 150 lakh.

Speaking at the event, Ashwini Vaishnaw said that the prolonged discussions over the integration of technology into Indian Railways have taken a firm shape in form of this initiative launched today.

The Railways Minister requested the startups to use this opportunity for which he has also assured them of support from the Indian Railways in the form of a 50 per cent capital grant, assured market, scale and ecosystem.

Salient features of the Indian Railway Innovation Policy are:-

–Grant up to Rs. 1.5 Crore to innovator on equal sharing basis with provision of milestone-wise payment;

–Complete process from floating of the problem statement to the development of the prototype is online with a defined timeline to make it transparent and objective;

–Trials of prototypes will be done on Railways. Enhanced funding will be provided to scale up deployment on the successful performance of prototypes;

–Selection of Innovator/s will be done by a transparent and fair system which will be dealt with through an online portal inaugurated today by the Minister of Railways;

–Developed Intellectual property rights (IPR) will remain with the innovator only;

–Assured developmental order to innovator; and

–Decentralisation of the complete product development process at the divisional level to avoid delays.

Abha Rustagi
Abha Rustagihttps://metrorailnews.in
Abha Rustagi is working as an Assistant Editor. She has completed her post-graduation from GGSIPU Delhi.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

spot_img

Related articles

2 Firms Qualify For DDC-03 Contract Of Pune Metro’s Aqua Line Extension 

Pune (Metro Rail News): Two Firms, SYSTRA MVA Consulting (India) and STUP – RITES JV have qualified for...

Titagarh Reveals Train Design For Ahmedabad Metro Phase 2

Ahmedabad (Metro Rail News): Following the inauguration, Ahmedabad Metro Phase 2 reached another milestone as the Titagarh Rail...

CLC Bridge Installed for Mumbai- Ahmedabad Bullet Train Project 

Surat ( Metro Rail News): This week, MG Contractors Pvt. Ltd. (MGCPL) achieved a milestone in the Mumbai...

KPIL – Gulermak JV Lowers Their 1st TBM At Rawatpur For Kanpur Metro Line 2

Kanpur (Metro Rail News): Another development has been waiting for the Kanpur Metro Project as Kalpataru Projects International...