Sagarmala Innovation and Start-up Policy [UPSC Notes]

The Ministry of Ports, Shipping and Waterways (MoPSW) has introduced a draft policy called the ‘Sagarmala Innovation and Start-up Policy’ to promote innovation and entrepreneurship in the maritime industry, which is essential for India’s growth. In this article, you can read more about the draft Sagarmala Innovation and Start-up Policy for the IAS exam.

Draft ‘Sagarmala Innovation and Start-up Policy’

The goal of this policy is to assist start-ups and organizations in working together to shape the future of India’s expanding maritime sector.

Empowering Start-ups through the ‘Sagarmala Innovation and Start-up Policy’:

The policy includes:

• A digital portal-based selection process for start-ups.
• The policy provides grants to create basic versions of a product or service.
• Ports will have ‘Launch pads’ for testing, pilot projects, workspace, and product adoption.
• Every year, there will be awards for start-ups in the maritime sector.
• Buyer-seller meetings will be organized, and technical knowledge support will be provided for VCs.
• Start-ups and individuals without registration in the maritime sector will be guided if they have promising ideas.
• Regulatory support in tenders and sub-contracting.
• Legal and accountancy backup to start-ups for IP-Patent filing, company registration, annual filings, and closures.

Collaboration for a Strong Ecosystem:

• The policy encourages cooperation between academic institutions, public and private sectors, and different programs to resolve challenges and increase efficiency in areas such as operation, maintenance, and infrastructure development.

Promoting Innovation and Entrepreneurship:

• Union Minister of MoPSW, Shri Sarbananda Sonowal, stated that the policy is a step towards creating a strong ecosystem for fostering start-ups and innovation in the nation. 
• The policy enables start-ups to grow and prosper through innovation.

Key Areas for Start-ups:

• The draft policy has identified several areas for start-ups to thrive, including decarbonization, optimizing processes through data, maritime education, multi-modal transportation, manufacturing, alternate/advance materials, maritime cybersecurity, smart communication, and marine electronics.

Maritime Innovation Hubs (MIH)

The policy promotes the development of Maritime Innovation Hubs (MIH) to:

• Develop incubators and accelerators for start-ups
• Create a centralized repository containing all relevant information
• Attract investment for eligible start-ups and innovative maritime technology
• Facilitate entrepreneur development through ‘know-how’ sessions and innovation-focused programs
• It also aims to collaborate with national and international stakeholders to provide mentorship and share knowledge

A Strong Maritime Innovation Ecosystem:

• The policy recognizes the success of the maritime sector in port-led development over the past eight years of Sagarmala.
• The main goal of the ‘Sagarmala Innovation and Start-up Policy’ is to create a strong and sustainable maritime innovation ecosystem by implementing strategies, building networks, and providing infrastructure and resources for the long term.

Sagarmala Innovation and Start-up Policy:- Download PDF Here