16 Sep 2022
Cochin Shipyard Limited (CSL) has launched a startup policy to support start-ups in the global maritime sector.
Key focus areas included in the start-up policy include:
- Smart technologies that automate Decarbonisation of Maritime Industry
- Artificial intelligence and machine learning to optimise processes
- Improving efficiency in the maritime sector processes free from human error
- Autonomous ships and ROVs
- Simulation
- Make life simpler and safer for users/stakeholders in the port and maritime sector
- Improving the lives of coastal communities
- Direct transferable product applications
- Improving earnings from fishing
- Enhance cargo and passenger movement by Internal Waterways & coastal shipping
- Applications and innovations related to manufacturing processes, such as 3D printing
- Innovations in the field of alternate/ advanced materials applicable in maritime sector
Funding Schemes:
- Seed Fund Scheme - Up to Rs. 50 lakhs (Rupees Fifty Lakh) per start-up as grant. To create a minimum viable product/ services (MVP) based on innovative solutions/ processes / products/ services/ business models in shipping and maritime sector.
- Pilot Grant Scheme - Up to Rs. 100 lakhs (Rupees Hundred Lakh) per start-up as grant, for the commercialisation of proprietary technology and includes Proof-of-Concept (POC) and Proof-of-Value (POV).
- Equity Investment - Investing into the equity of the Start-up company and equity will be held in the name of CSL.