Infrastructure
'Startups For Railways' Initiative Gains Momentum, 23 Projects Worth Rs 43.87 Crore Awarded To Startups
Startup India initiative by Government of India.
The startup initiative in the rail sector has gained momentum with a total 1,251 entities registered on the Indian Railways Innovation Portal to participate in various innovation challenges, of which 23 projects worth Rs 43.87 crore have been awarded.
The Indian Railways has taken an important initiative in the field of innovation through the participation of start-ups and other entities.
“Startups for Railways" initiative was launched by Ministry of Railways on 13 June 2022. As part of this initiative, the Indian Railways Innovation Portal is available at https://innovation.indianrailways.gov.in/.
The objective is to leverage innovative technologies developed by Indian startups/MSMEs/innovators/entrepreneurs to improve operational efficiency and safety on Indian Railways.
Ministry of Railways aims to address quality, reliability, and maintainability-related issues of the Indian Railways. Under the policy, the startup/MSME/innovator/entrepreneur will have exclusive ownership of intellectual property rights (IPR) created in the project.
According to the Railways, the value of 23 awarded projects is approximately Rs 43.87 crore.
The total number of entities registered on the Innovation Portal is 1,251 out of which 248 are startups, 671 are individual innovators, 142 are MSMEs, 58 are R&D organisations/institutes, 47 are proprietorship/partnership firms/companies/JV/consortiums, 19 are NGOs, and 66 others.
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