Railways to invest Rs 50 cr a year in startups; innovators to retain IPR

Indian Railways will invest more than Rs 50 crore annually to fund startups, Union Minister Ashwini Vaishnaw said Monday, adding that unlike other such collaborations, the intellectual property rights (IPR) for innovations will remain with the innovator.

Under the Indian Railway Innovation Policy, 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.