Kochi, Apr 30 (PTI) Unveiling the startup engagement framework of the Cochin Shipyard Limited (CSL), Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal on Saturday announced an initial corpus fund of Rs 50 crore as investment in startup companies in the maritime sector.
Inaugurating the golden jubilee celebrations of the CSL here, the Union Minister said the framework will provide a platform for young and talented entrepreneurs to develop the products/services in the marine space with financial support provided by CSL.
“With a view towards development of startups in the maritime domain, I am extremely pleased to announce the promulgation of the Start-Up Engagement Framework of Cochin Shipyard today, with an initial corpus of Rs 50 crore,” Sonowal said.
He said the startup framework was envisaged to augment the Union government’s initiatives to develop an ecosystem in India to support maritime startups from technical, regulatory, financial and marketing point of view by bringing stakeholders together.
The Union Minister felicitated CSL on its achievements over the last five decades including the construction of the country’s first aircraft carrier, which propelled India into the elite group of nations in the world.
Minister of State for Ports, Shipping and Waterways Shantanu Thakur, Minister of State for External Affairs V Muraleedharan, Kochi Mayor Anil Kumar, MLA T J Vinod, Hibi Eden MP, Ministry of Ports, Shipping and Waterways Secretary Dr Sanjeev Ranjan, CSL CMD Madhu S Nairamong were among those who participated in the event. PTI RRT KH HDA
