Railway announces innovation strategy ‘Startups for Railways

Follow up of Magic: Railways initiative to promote and empower startup ecosystem

Aurangabad, June 14:

Indian railways has launched the ‘Startups for Railways’ policy to promote and empower the startups. For the last two years, The Marathwada Accelerator for Growth and Incubation Council (MAGIC) has been following up with the Ministry of Railways and other ministries for this initiative. The follow-up has been a success and the new policy has opened up huge opportunities for startups and small businesses in Indian railways, said Magic officials.

Giving more information, MAGIC director Ashish Garde said, the demand was made by MAGIC during an online meeting with the then railway minister Piyush Goyal held on April 5, 2021. The new policy would help local startups and small entrepreneurs to get business opportunities with the railways. There is a huge potential in railways to give boost to the new initiatives by connecting more startups and providing them with support. Special efforts should be made to develop new vendors for railways from tier-2-3 cities like Aurangabad-Jalna by setting up a special cell to support and promote startups connected to Indian railways.

Other pending demands of Magic:

-- Provide vendor business opportunities to local startups and small scale industries through railway establishments and provide proper guidance for the same.

-- Auric, part of the DMIC project, should be developed and marketed as a priority city for startups.

-- A Railway Business Development Center should be developed at Auric on the lines of Railway University of Gujarat to support startups and small scale industries.

-- A separate zone for startups and small businesses working for railways should be developed in Auric.