Categories: Schemes

Union Minister Ashwini Vaishnaw Launches ‘StartUps For Railways’ Policy

Union Railway Minister, Ashwini Vaishnaw has launched “StartUps for Railways”, an important initiative in the field of innovation. Aiming at bringing about innovative solutions to problems like rail fracture, reduction of time between two trains and other passenger related issues. The innovation policy is expected to bring about scale and efficiency in the field of operation, maintenance and infrastructure creation through participation of very large and untapped startup ecosystem.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

About the policy:

Out of over 100 problem statements received from different divisions, field offices/zones of Railways, 11 problem statements like rail fracture, headway reduction etc. have been taken up for phase-1 of this programme.
These will be presented before the start ups to find innovative solutions.
The Railway Minister requested the startups to use this opportunity and assured them of support from Indian Railways in form of 50 per cent capital grant, assured market, scale and ecosystem.
The Railways would grant up to Rs 1.5 crore to innovators on equal sharing basis with provision of milestone-wise payment under the policy.

Find More News Related to Schemes & Committees

SEBI Advisory Committee on Mutual Funds restructured 2022_80.1

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.