In the first part of the program, 11 issue statements will be selected from over 100 received from various Railway field offices and given to start-ups to develop new solutions.
The Railway Innovation Policy will provide an excellent chance for start-ups to connect with Indian Railways. Out of approximately 100 problem statements received from different divisions and field offices of Railways, 11 problem statements including rail fracture and headway reduction will be taken up in phase 1 of the program. If you are preparing for competitive exams and looking for expert guidance, you can download our General Knowledge Free Ebook Download Now.
Current Affairs Ebook Free PDF: Download Here
Attempt Free Mock Tests- Click Here
Source: Safalta.com
The Railway Innovation Policy will provide an excellent chance for start-ups to connect with Indian Railways. Out of approximately 100 problem statements received from different divisions and field offices of Railways, 11 problem statements including rail fracture and headway reduction will be taken up in phase 1 of the program. If you are preparing for competitive exams and looking for expert guidance, you can download our General Knowledge Free Ebook Download Now.
Current Affairs Ebook Free PDF: Download Here
Attempt Free Mock Tests- Click Here
Significance
Through the engagement of a big and untapped startup ecosystem, the Railway Innovation Policy will bring scale and efficiency to the fields of operation, maintenance, and infrastructure building in the railways. The Indian Railway Minister encouraged entrepreneurs to take advantage of this opportunity and promised them financial assistance in the form of a 50% capital grant.
5 Key Features of Railway Innovation Policy
Grant up to Rs. 1.5 crore to the innovator on an equal sharing basis, with payment made in stages.
The entire process, from the formulation of the problem definition to prototype creation, would be conducted online with a predetermined timeline to ensure transparency and objectivity.
Prototypes will be put through their paces on railways. Following the good performance of prototypes, the railways will provide further money to scale up deployment.
Through an online site launched by the Railway Minister, innovators will be selected transparently and fairly.
The developed intellectual property rights will be held by the innovator (IPR).
The entire process, from the formulation of the problem definition to prototype creation, would be conducted online with a predetermined timeline to ensure transparency and objectivity.
Prototypes will be put through their paces on railways. Following the good performance of prototypes, the railways will provide further money to scale up deployment.
Through an online site launched by the Railway Minister, innovators will be selected transparently and fairly.
The developed intellectual property rights will be held by the innovator (IPR).
Background
In May 2022, the Indian Railways' field units were asked to provide issue areas. Around 160 problem statements were sent in response to the same, 11 of which were chosen to be presented to entrepreneurs via the new Railway Innovation Policy.
Problem statements on broken rail detection system, rail stress monitoring system, automation of track inspection activities, design of superior Elastomeric Pad (EM Pad) for Heavy Haul freight Wagons, light-weight wagon for transporting goods such as salt, and development of analytical tool using digital data for improving passenger services and track cleaning machine are among them.
Problem statements on broken rail detection system, rail stress monitoring system, automation of track inspection activities, design of superior Elastomeric Pad (EM Pad) for Heavy Haul freight Wagons, light-weight wagon for transporting goods such as salt, and development of analytical tool using digital data for improving passenger services and track cleaning machine are among them.
Facts to remember
The Railway Innovation Policy will provide an excellent chance for start-ups to connect with Indian Railways.
The Railway Innovation Policy will bring scale and efficiency to the fields of operation, maintenance, and infrastructure building in the railways.
Grant up to Rs. 1.5 crore to the innovator on an equal sharing basis, with payment made in stages.
Through an online site launched by the Railway Minister, innovators will be selected transparently and fairly.
The Railway Innovation Policy will bring scale and efficiency to the fields of operation, maintenance, and infrastructure building in the railways.
Grant up to Rs. 1.5 crore to the innovator on an equal sharing basis, with payment made in stages.
Through an online site launched by the Railway Minister, innovators will be selected transparently and fairly.
How to prepare for Government Jobs?
If you want to prepare for Government Jobs, you can get an expert’s guidance with the help of Safalta’s Free Courses: Subscribe Now. Safalta will guide you to prepare for exams like SSC GD, NDA & NA, UP Lekhpal, SSC MTS, etc. Moreover, the aspirants can check E-Books, Mock-Tests, and Current Affairs for free.
| If you want to get details about the other Indian government job salaries, you can visit these articles by Safalta | |||
| Indian Army Clerk Salary 2022 | NDA Salary 2022 | SSC CGL Salary 2022 |
Delhi Police Constable Salary |
| UP Lekhpal Salary 2021 | Uttar Pradesh Primary Teacher Salary 2022 | UP Police Constable Salary 2021 | Bihar Police SI Salary 2021 |