The Indian Railway Innovation Policy has been put into action thanks to the creation of a site by the government. Start-ups that create cost-effective, implementable, scalable solutions and working prototypes for the national transporter can apply through this portal.
The Indian Railways plans to spend up to Rs 1.5 crore on these start-ups as startup money. According to an official presentation, during the scaling-up stage, the award can be quadrupled to up to Rs 3 crore for greater dissemination. The Indian Railways will provide support in the form of a 50% capital grant, a guaranteed market, size, and ecosystem.
Railway Minister Ashwini Vaishnaw told the media that the start-ups would have to present solutions that solve at least one of the eleven problem areas listed.
Broken Rail Detection System, Rail Stress Monitoring System, Headway Improvement System for suburban segment compatible with Indian Railways, and Automation of Track Inspection Activities are some issues that need to be addressed.
