MoPSW Issues Draft ‘Sagarmala Innovation and Start-up Policy’

Draft Policy aims to establish long-term action plans, network, infrastructure, and other resources to build a robust maritime innovation ecosystem

Padmesh Prabhune

The Ministry of Ports, Shipping and Waterways (MoPSW) last Monday the 10th April issued a 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.

The draft ‘Sagarmala Innovation and Start-up Policy’ pitches for digital portal-based selection of start-ups to ensure a transparent process, further emphasizing on developing a centralized repository containing all pertinent information to assist emerging entrepreneurs.

Shri Sarbananda Sonowal, Union Minister, MoPSW, said, “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 innovation”.

The 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.

The draft policy also called for the creation of launch pads at ports for carrying out trials, facilitating pilot projects, establishing working space, and adopting products and solutions. It further mentions the need to collaborate with national and international stakeholders for mentorship and 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.

Marex Media