DRM Anup Satpathy highlights 'Start-ups for Railways'

Visakhapatnam : 'Start-ups for Railways' initiative will provide a better opportunity for young entrepreneurs to contribute to the railways growth, said Divisional Railway Manager of Waltair Anup Satpathy.

Briefing the media about the recently launched Indian Railways innovation policy 'Start-ups for Railways,' the DRM gave a power point presentation on the initiative launched by Minister for Railways Ashwini Vaishnaw.

The DRM briefed the advantages of the new policy that aimed at encouraging the young talent pool of India and tapping their potential to maximum extent.

Anup Satpathy said the objective of the startup policy is to support the Indian startups with ideal solutions, providing financial assistance to the tune of Rs.1.5 crore in the initial stage and making them part of the Railways success.

Further, DRM said that after the selection of innovative solutions by the evaluation committee, prototype trails would be conducted by the Railways and after successful results, enhanced funding to the tune of Rs 3 crore would be provided for a wide scale implementation of the project.

Senior Divisional Commercial Manager AK Tripathy briefed the method of applying for the newly launched policy and said Indian railways is inviting the startups with solutions for the 11 problematic areas identified by the Railways. Applicants can upload their solutions www.innovation.indianrailways.gov.in from June 21 and a letter of acceptance would be given to startups within 90 days after successful presentation to the evaluation committee.