Cochin Shipyard Limited (CSL) is committed to investing an initial corpus of ₹50 crore in start-up companies engaged in the maritime sector, said Sarbananda Sonowal, the Union Minister for Ports, Shipping & Waterways.
Unveiling the start-up engagement framework of CSL, he said that it is envisaged to augment the government’s initiatives to develop an ecosystem in the country to support maritime start-ups from technical, regulatory, financial, and marketing points 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 CSL.
He was speaking at the event in connection with the inauguration of the golden jubilee celebration of CSL. The Minister also 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.