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With reference to the Indian Railway Innovation Policy - “StartUps for Railways”, consider the following statements:
1. Grant up to Rs. 1.5 Crore to innovator on equal sharing basis with provision of milestone-wise payment.
2. Complete process from floating of problem statement to development of prototype is online with defined time line to make it transparent and objective.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
With reference to the Indian Railway Innovation Policy - “StartU...
Minister of Railways launched Indian Railway Innovation Policy - “StartUps for Railways”. Through this platform start-ups will get a good opportunity to connect with Railways.
Salient details of Indian Railway Innovation Policy are as under:
  • Grant up to Rs. 1.5 Crore to innovator on equal sharing basis with provision of milestone-wise payment.
  • Complete process from floating of problem statement to development of prototype is online with defined time line to make it transparent and objective.
  • Trials of prototypes will be done in Railways. Enhanced funding will be provided to scale up deployment on successful performance of prototypes.
  • Developed Intellectual property rights (IPR) will remain with innovator only.
  • Assured developmental order to innovator.
  • De-centralization of complete product development process at divisional level to avoid delays.
Hence both statements are correct.
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Community Answer
With reference to the Indian Railway Innovation Policy - “StartU...
Explanation:

Grant to Innovator:
- The first statement is correct. The Indian Railway Innovation Policy - "StartUps for Railways" provides a grant of up to Rs. 1.5 Crore to innovators. This grant is provided on an equal sharing basis with a provision of milestone-wise payment.

Online Process:
- The second statement is also correct. The complete process from floating of the problem statement to the development of a prototype is online. This online process has a defined timeline to make it transparent and objective.
Therefore, both statements 1 and 2 are correct. The Indian Railway Innovation Policy aims to promote innovation in the railway sector by providing support to startups and innovators through grants and an online process that ensures transparency and efficiency in the development of solutions for railway-related challenges.
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With reference to the Indian Railway Innovation Policy - “StartUps for Railways”, consider the following statements:1. Grant up to Rs. 1.5 Crore to innovator on equal sharing basis with provision of milestone-wise payment.2. Complete process from floating of problem statement to development of prototype is online with defined time line to make it transparent and objective.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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