Center publishes draft Sagarmala innovation and start-up policy

The center on Monday released a draft of the “Sagarmala Innovation and Start-up Policy,” aiming to boost start-ups and other entities to help shape the future of India’s burgeoning maritime sector.

According to the Ministry of Ports, Shipping and Waterways, the draft “Sagarmala Innovation and Startup Policy” provides for pitches for a digital portal-based selection of startups to ensure a transparent process.

The draft directive called for the creation of launch pads in ports to conduct trials, facilitate pilot projects, establish workspaces and launch products and solutions, the statement said.

It was also pointed out that there is a need to provide legal and accounting support to startups for IP patent filing, company registration, annual filings and closures.

“There is also a need to work with national and international stakeholders to provide mentoring, knowledge sharing and facilitate access to global subject matter experts, serial entrepreneurs, business leaders and investors who have the potential to establish and scale in India” , it says added.

Minister of Ports, Shipping and Waterways Sarbananda Sonowal said: “Startup India Policy is the brainchild of PM (Narendra) Modi and this is the right move of the MoPSW to build a strong ecosystem to foster startups and innovation to create in the nation.”

“This will certainly encourage innovation and entrepreneurship. Through this policy, MoPSW aims to enable startups to grow and thrive through innovation.”

The draft policy has identified several key areas where the startups can thrive, including decarbonization, optimizing processes through data, maritime education, multimodal transport, manufacturing, alternative/advanced materials, maritime cybersecurity, intelligent communications and marine electronics.

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