Cochin Shipyard to invest 50 crore in maritime startups: Sonowal

Cochin Shipyard Limited (CSL) is planning to invest an initial corpus of 50 crore in startups engaged in the maritime sector, announced Sarbananda Sonowal, Union Minister for Ports, Shipping, and Waterways. He unveiled the startup engagement framework of CSL at the inauguration of its Golden Jubilee celebrations. The framework is envisaged to augment the Union government’s steps to develop an ecosystem in India to support the maritime startups from technical, regulatory, financial, and marketing points of view by bringing the stakeholders together, read an official statement. The framework is likely to provide a platform for young and talented entrepreneurs to develop the products/services in the marine space with financial support provided by CSL.