SCR invites startups to join Railways Initiative

Hyderabad: To promote the participation of emerging entrepreneurs in solving some of the critical areas of Indian Railways, Arun Kumar Jain, General Manager (In-Charge) on Wednesday held a meeting with Srinivas Rao, CEO, T-HUB for encouraging emerging entrepreneurs to participate in Indian Railways.

The SCR officials along with his team met the CEO, T-HUB to create awareness of this unique initiative and encourage the Startup/MSME/Innovator/ Entrepreneur and encourage them to join this initiative and be a part of making the Indian Railways stronger and help them realising their dream of starting a successful venture.

As part of the initiative, the Railways have identified 11 critical areas wherein solutions from the Start-Ups are being invited. This number will be progressively increased over a period of time. The activities under this initiative can be accessed at https://innovation.indianrailways.gov.in/.

To earnestly support the Start-Ups showing capability, intent and promise to produce functional prototypes, based on new innovative concepts for potential use on Indian Railways, a seed fund support up to Rs. 1.5 crore will be given by the Railway Board. The funding scheme will be on a cost-sharing basis in equal proportion (50:50), between Indian Railways and Start-up, said a SCR senior officer.