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.
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Significance
5 Key Features of Railway Innovation Policy
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.
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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
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 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.
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