The railways will invest in startups to get a headstart in procuring innovations directly from them with a promise of up to Rs 1.5 crore of seed money for innovative technological solutions for the national transporter, according to a policy paper.
The Indian Railway Innovation Policy will identify and enable Indian innovators to engage with the railways for developing cost-effective, implementable, scalable solutions and functional prototypes for the national transporter, officials said.
“Since there is a major constraint of capital inadequacy in the startup ecosystem, particularly in the seed and ‘Proof of Concept’ developmental stage, this policy aims at providing the necessary seed fund support of up to Rs 1.5 crore (on matching contribution basis) to the startups that show the capability,
