The start-up India policy is brainchild of PM Modi: Union Min Sonowal

"This will surely promote innovation and entrepreneurship. Through this policy, MoPSW wants to enable start-ups to grow and prosper through innovations," he added

Union Minister Sarbananda Sonowal on Monday said that the start-up India policy is the brainchild of Prime Minister Narendra Modi and this is the right step taken by the Ministry of Ports, Shipping and Waterways to create a strong ecosystem for fostering start-ups and innovation in the nation.

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 a draft on 'Sagarmala Innovation and Start-up Policy'.

As per the Ministry of Port, Shipping and Waterways, "the draft policy aims at nurturing start-ups and other entities to co-create the future of India's growing maritime sector. This entails the 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, and 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" Ministry added.

Union Minister Sarbananda Sonowal 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 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" he added

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/advanced materials, maritime cybersecurity, smart communication and marine electronics.

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