SCR invites T-hub over 'Start-up for Railways' initiative

A structured timeline framework has also been laid down so as to ensure speedy implementation of the projects showing potential, the release said.Accordingly, GM In-Charge met the CEO, T-HUB, to create awareness on the unique initiative and to encourage the Start-upMSMEInnovatorEntrepreneur to join this initiative and be part of making the Indian Railways stronger and to help them in realising their dream of starting a successful venture, it added.

South Central Railway (SCR) General Manager (In-Charge) Arun Kumar Jain on Wednesday met M Srinivas Rao, CEO of T-HUB, and his team with regard to "Start-up for Railways" initiative of the Indian Railways. Established in 2015, T-Hub is an innovation hub and ecosystem-enabler based out of Hyderabad. Indian Railways has introduced the novel concept to promote participation of emerging entrepreneurs in solving some of the critical areas of the railways, a SCR release said. With the objective of harnessing the growing technological advancements in the start-up ecosystem and to promote participation of emerging entrepreneurs to address quality, reliability and maintainability-related issues of the Indian Railways, the Ministry of Railways has launched the unique initiative of "Start-ups for Railways." As part of the initiative, as a first-step the railways has identified 11 critical areas wherein solutions from the start-ups are being invited. This number would be increased over a period of time. To support the start-ups showing capability, intent and promise to produce functional prototypes, based on new innovative concepts for potential use on Indian Railways, a seed fund support upto Rs. 1.5 crore would be given by the Railway Board. Funding scheme would be on a cost-sharing basis in equal proportion (50:50) between Indian Railways and Start-up/MSME/Innovator/Entrepreneur. Under the policy, the Start-up/MSME/Innovator /Entrepreneur would have an exclusive ownership of Intellectual Property Rights (IPR) created in the project. A structured timeline framework has also been laid down so as to ensure speedy implementation of the projects showing potential, the release said.

Accordingly, GM (In-Charge) met the CEO, T-HUB, to create awareness on the unique initiative and to encourage the Start-up/MSME/Innovator/Entrepreneur to join this initiative and be part of making the Indian Railways stronger and to help them in realising their dream of starting a successful venture, it added.