Sagarmala Innovation and Start-up Policy

In an effort to support startups and other organisations in co-creating the future of India’s expanding Maritime sector, the centeral government on Monday came up with the proposal of “Sagarmala Innovation and Start-up Policy.” The policy’s special focus is on the construction of port infrastructure., Startups and Innovation in Maritime Industry and Collaboration with national, international stakeholders and subject experts for port led development.

The proposed policy has highlighted many crucial areas where entrepreneurs can develop in the Maritime sector. This includes decarbonisation, optimising processes through data, maritime education, multi-modal transportation, manufacturing, alternate/advance materials, maritime cybersecurity, smart communication and marine electronics.

In addition, the policy draft emphasises on developing port infrastructure through creating launch pads at ports for carrying out trials, facilitating pilot projects, establishing working space and adopting products and solutions. It stated that startups require support for IP-patent filing, business registration, annual filings, and closures from legal and accounting professionals.

This program looks forward to 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.

As mentioned in the draft :

The Pitch submissions for startups are to be chosen through a digital platform under the Sagarmala Innovation and Start-Up Policy.

Grants will be provided to create a minimum viable product/ services (MVP), commercialization of proprietary technology including market entry or scaling up.

The policy also promises to provide 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.

Organizing Buyer-Seller Meetings and providing Technical Knowledge Support for Venture Capitalists.

Legal and accountancy back up to start-ups for IP-Patent filing, Company registration, annual filings and closures.

Annual Start-up Awards in the maritime sector recognizing distinguished efforts of innovation.