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Indian Railway Innovation Policy

Indian Railway Innovation Policy:

The Minister of Railways has launched Indian Railway Innovation Policy- “StartUps for Railways”.

Key Highlights of the Policy:

  • Grant up to Rs. 1.5 Crore to innovators on equal sharing basis with provision of milestone-wise payment.
  • The 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 an online portal inaugurated today by the Minister of Railways.
  • Developed Intellectual property rights (IPR) will remain with innovators only.
  • De-centralization of complete product development process at divisional level to avoid delays.