Indian Railway launches “StartUps for Railways”

Indian Railways has launched “StartUps for Railways” policy to bring scale and efficiency in the field of operation, maintenance and infrastructure creation through participation of very large and untapped startup ecosystem.

Salient details of Indian Railway Innovation Policy are as under:-

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

• Complete process from floating of problem statement to development of prototype is online with defined time line to make it transparent and objective.

• Trials of prototypes will be done in Railways. Enhanced funding will be provided to scale up deployment on successful performance of prototypes.

• Selection of Innovator/s will be done by a transparent and fair system which will be dealt through online portal inaugurated today by Minister of Railways.

• Developed Intellectual property rights (IPR) will remain with innovator only.

• Assured developmental order to innovator.

De-centralization of complete product development process at divisional level to avoid delays.