Sagarmala Innovation, Startup policy daft issued

New Delhi: The Ministry of Ports, Shipping and Waterways (MoPSW) on Monday issued draft ‘Sagarmala Innovation and Start-up Policy’ with an aim to nurture startups and other entities to co-create the future of India’s growing maritime sector.

According to an official statement, the draft ‘Sagarmala Innovation and Start-up Policy’ pitches for digital portal-based selection of startups to ensure a transparent process. It also emphasised on developing centralised repository containing all pertinent information to assist emerging entrepreneurs. 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 the India. Shipping Minister Sarbananda Sonowal said: “The startup India policy is the brainchild of PM Narendra Modi.”