The Business Bytes
TBB BUREAU
NEW DELHI, APR 10, 2023
With an aim to nurture startups and other entities to co-create the future of India’s growing maritime sector, the Union Government on Monday issued a draft on ‘Sagarmala Innovation and Start-up Policy’.
According to the Ministry of Ports, Shipping & Waterways (MoPSW), the draft ‘Sagarmala Innovation and start-up policy’ pitches for digital portal-based selection of startups to ensure a transparent process.
The draft policy called for creation of launch pads at ports for carrying out trials, facilitating pilot projects, establishing working space and adopting products and solutions, the statement said.
It also noted that there is a need to provide legal and accountancy back up to startups for IP-patent filing, company registration, annual filings and closures.
There is also a need to collaborate with national and international stakeholders for mentorship, knowledge sharing and facilitate access to global subject matter experts, serial entrepreneurs, business leaders, and investors with the potential to get their entry and scaling in India, it added.
Ports, Shipping & Waterways Minister Sarbananda Sonowal said, “The start-up India policy is the brainchild of PM Modi and this is the right step taken by the MoPSW to create a strong ecosystem for fostering start-ups and innovation in the nation. This will surely promote innovation and entrepreneurship. Through this policy, the MoPSW wants to enable start-ups to grow and prosper through innovations”
“This will surely promote innovation and entrepreneurship. Through this policy, MoPSW wants to enable startups to grow and prosper through innovations,” he added.
The draft policy has identified several key areas for the startups to flourish, including decarbonisation, optimising processes through data, maritime education, multi-modal transportation, manufacturing, alternate/advanced materials, maritime cybersecurity, smart communication and marine electronics.
