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A Union Minister declares Cochin Shipyard Ltd will invest Rs 50 crore in marine start-ups


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.

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. Shantanu Thakur, Minister for Ports, Shipping and Waterways, Minister for Foreign Affairs Muralid Haran, Mayor of Kochi City, Anil Kumar MLA T J Vinod, MP Eden Hibi, Minister for Ports, Shipping and Waterways, Dr. Sanjeev Ranjan, CSL CMD Madhu S Nairamong was one of the participants in the event.

`’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.

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  • A Union Minister declares Cochin Shipyard Ltd. will invest Rs 50 crore in marine start-ups
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