Maritime Innovation Hubs in Sagarmala Project

Details of draft ‘Sagarmala Innovation and Start-up Policy’:

· Digital Portal based selection of startups ensuring a transparent process

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

· Creation of ‘Launch pads’ at Ports for carrying out trials, facilitating pilot projects, establishing working space and adopting products and solutions

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

· Organizing Buyer-Seller Meetings and providing Technical Knowledge Support for VCs

· 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

· Regulatory support in Tenders and Sub-contracting

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

The promotion of start-ups shall be through development of Maritime Innovation Hubs (MIH) which shall perform the following functions:

· Develop incubators and accelerators with state of the art facilities to cover all aspects of the startup journey from idea to scaled product.

· Develop centralized repository containing all pertinent information to assist emerging entrepreneurs

· Attract investment for eligible start-up businesses and innovative maritime technology

· Entrepreneur development through ‘know-how’ sessions about the various aspects of the maritime industry and launching of innovation focused programs

· 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

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