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Ministry of Railways has launched Indian Railways Innovation Policy

Published on June 16, 2022
Current Context: Indian Railways has launched a policy by the name “StartUps for Railways” in Rail Bhavan, New Delhi, which will bring scale and efficiency in the field of operation, maintenance as well as the creation of infrastructure through the participation of very large and untapped startup ecosystem.
Ministry of Railways has launched Indian Railways Innovation Policy
  • This platform will provide an opportunity for the start-ups to connect with the national transporter. Out of more than In Phase 1, eleven problem statements such as rail fracture, headway reduction, etc., have been taken up.
  • The startups will get support from the national transporter in form of a 50% capital grant, scale, assured market, and ecosystem.
  • Apart from that entire process from floating the problem statement to prototype development is online with a defined timeline to make it objective and transparent.
  • Prototypes trials will be done on Indian Railways. On the successful performance of prototypes, enhanced funding will be provided to scale up deployment.
  • Innovators will be selected by a transparent and fair system which will be dealt with through an online portal.
  • Developed Intellectual property rights will only remain with the innovator.
  • It has also provided the provision of de-centralization of the complete process of product development at the divisional level to avoid delays.

Question:

Q.1 As per the Indian Railway Innovation Policy, what percentage of the grant will be provided through the national transporter for all start-ups?
a. 30%
b. 50%
c. 20%
d. 10%
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