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Tuesday, June 25, 2024

Over 1200 entities register for Indian Railways ‘Start-Up’ Initiative

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New Delhi: Indian Railways on Tuesday said that approximately 1251 entities have enrolled on its innovation portal to participate in the ‘Startups for Railways’ initiative. The value of projects awarded under this initiative is Rs. 43.87 crore, it said.

In an official statement, the Ministry said, “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 the Ministry of Railways on July 13, 2022.”

As part of this initiative, the Indian Railways Innovation Portal is available at https:nnovation.indianrailways.gov.in/.

The Ministry said that a total of 1251 entities registered on the Indian Railway Innovation Portal to participate in various innovation challenges.

The objective of this initiative is to leverage innovative technologies developed by Indian startups, MSMEs, innovators, and entrepreneurs to improve operational efficiency and safety on Indian railways.

“The Ministry of Railways aims to address quality, reliability, and maintainability-related issues of the Indian Railways. Under the policy, the startup, MSME, innovator, and entrepreneur will have exclusive ownership of Intellectual Property Rights (IPR) created in the project,” it added.

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