Centre launches innovation coverage to carry technological developments in Railways


New Delhi: The Union authorities on Thursday launched an ‘innovation policy’ to usher in technological developments within the Indian Railway, individuals acquainted with the event stated, including that the coverage will interact innovators, startups and entrepreneurs to work with the railways.

“This is the first time that the Indian Railway is coming up with such a policy with the aim to give new innovative ideas that will help it to develop technologically,” a railways official stated. “We h ad gathered necessary vital inputs from all areas. This policy will help in cutting down old and long procedure and help in getting new brains to the railways and the country at large.”

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“The policy document lays down a broad framework for engagement of the ministry of railways with innovators for development of technology, products and need-based solutions for railways,” a letter despatched all normal managers on Thursday stated.

“Complete process of selection of innovation partners will be executed online in an open, fair and transparent manner through a dedicated portal, which is likely to be activated by the end of April,” one other official near the event stated, requesting anonymity.

“The policy provides an enabling framework for encouraging Indian innovators, startups, entrepreneurs, micro small and medium enterprises (MSMEs), research and development (R&D) institutions, and technology developers to engage with Indian Railways for development of innovative technological solutions,” the official added.

As per the coverage, entrepreneurs/innovators might be given monetary assist as venture grants. “Railways will be bearing 50% of the total project cost. It will be a great boost to new entrepreneurs. Moreover, once approved, the innovator will have high chances of being awarded with more contracts,” one other official stated.



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