Union Minister for Ports, Shipping & Waterways Sarbananda Sonowal announced in Kochi that Cochin Shipyard Limited has committed to invest an initial corpus of Rs. 50 Crore in Start-up companies engaged in the maritime sector. He also unveiled the Government’s plan for building Hydrogen Fuelled Electric Vessels keeping pace with the Global Maritime Green Transitions.
The move is part of India’s transformative efforts on the innovative and new technology front on green energy, sustainable cost-effective alternate fuel front. Announcing the Start-up engagement framework on the occasion of inauguration of the Golden Jubilee celebrations of Cochin Shipyard Limited at a function held this afternoon at Kochi he said the Government is keenly focused on the development of the Start-Up eco system in the country.
Many major initiatives, like “Start-Up India” etc. have facilitated the growth of numerous start-ups in the country. He said with a view towards development of start-ups in the maritime domain, the Ministry is working on a Start-up Engagement Framework, which will be promulgated shortly.
The start-up framework is envisaged to augment Government’s initiatives to develop an ecosystem in the country to support Maritime Start-ups from technical, regulatory, financial and marketing point of view by bringing stakeholders together. The framework will provide a platform for the young and talented entrepreneurs to develop the products/services in the marine space with financial support provided by Cochin Shipyard Limited.
Sonowal also unveiled the Government’s plan for building Hydrogen Fuelled Electric Vessels keeping pace with the Global Maritime Green Transitions at the Workshop on Green Shipping organised by the Ministry jointly with Cochin Shipyard Limited and The Energy and Resources Institute.The move is part of India’s transformative efforts on the innovative and new technology front on green energy, sustainable cost-effective alternate fuel front.
