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Draft ‘Sagarmala Innovation and Start-up Policy’ issued for Stakeholder Consultation

Newdelhi:10/4/23:A nation’s growth is augmented by start-ups and entrepreneurs. In order to build a strong innovation ecosystem, the Ministry of Ports, Shipping and Waterways (MoPSW) issued draft on ‘Sagarmala Innovation and Start-up Policy’. This draft policy aims at nurturing start-ups and other entities to co-create the future of India’s growing maritime sector. This entails intensive collaboration of the organizations to build a strong eco-system facilitating innovation and Startups in the country that will drive sustainable growth and generate large scale employment opportunities. This enhances the cooperation and coordination between academic institutions, public sector, private sector and convergence of different schemes and programs to groom fresh ideas and approaches to resolve the issues and challenges to boost up the efficiency in the areas of operation, maintenance, and infrastructure development.

Shri Sarbananda Sonowal, Union Minister, MoPSW stated: “the start-up India policy is the brainchild of PM Modi and this is the right step taken by 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, MoPSW wants to enable start-ups to grow and prosper through innovations”

The designed framework enables the distribution of responsibilities and benefits among the various stakeholders. This is not only limited to the existing stakeholders but also includes upcoming young entrepreneurs with innovative ideas.

Draft policy has identified several key areas for the startup to flourish including decarbonization, optimizing processes through data, maritime education, multi-modal transportation, manufacturing, alternate/ advance materials, maritime cybersecurity, smart communication and marine electronics.

Details of draft ‘Sagarmala Innovation and Start-up Policy’:

  • Digital Portal based selection of startups ensuring a transparent process
  • Grants to create a minimum viable product/ services (MVP), commercialization of proprietary technology including market entry or scaling up
  • Creation of ‘Launch pads’ at Ports for carrying out trials, facilitating pilot projects, establishing working space and adopting products and solutions
  • Annual Start-up Awards in the maritime sector recognizing distinguished efforts of innovation
  • Organizing Buyer-Seller Meetings and providing Technical Knowledge Support for VCs
  • Guidance to Non Registered Start-ups and Individuals with promising ideas in Maritime Sector including registration of start-up and availing Department for Promotion of Industry and Internal Trade (DPIIT) recognition
  • Regulatory support in Tenders and Sub-contracting
  • Legal and accountancy back up to start-ups for IP-Patent filing, Company registration, annual filings and closures

The promotion of start-ups shall be through development of Maritime Innovation Hubs (MIH) which shall perform the following functions:

  • Develop incubators and accelerators with state of the art facilities to cover all aspects of the startup journey from idea to scaled product.
  • Develop centralized repository containing all pertinent information to assist emerging entrepreneurs
  • Attract investment for eligible start-up businesses and innovative maritime technology
  • Entrepreneur development through ‘know-how’ sessions about the various aspects of the maritime industry and launching of innovation focused programs
  • Collaborate with national & 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

MoPSW feels proud to share that over the span of 8 successful years of Sagarmala, maritime sector has captured all the possible opportunities for the port-led development. Now, this policy will also create a field to establish a long-term action plans, network, infrastructure, and other resources to build a robust maritime innovation ecosystem.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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