Singapore Collaborates with Start-ups to Bring Innovation to Maritime Industry

To bring technology and innovation to the maritime industry, the Maritime and Port Authority of Singapore (MPA) and NUS Enterprise held the Smart Port Challenge (SPC) 2020 to encourage promising start-ups to translate ideas into real-world solutions.

The SPC is a core program under Port Innovation Ecosystem Reimagined @ BLOCK71 (PIER71), a collaboration between the Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS). The fourth edition of the SPC received 187 applications from start-ups around the world and was conducted online for the first time.

Many of these applications seek to automate processes and reduce reliance on manpower through solutions such as robots for hull cleaning, and virtual walkthrough of vessels for ship inspections, which is particularly beneficial in light of COVID-19. From the pool of highly qualified proposals received, 16 were selected, putting their teams into PIER71 Accelerate, a six-week market validation and customer discovery program.

Focusing on areas such as artificial intelligence, data analytics, Internet of Things and robotics, all 16 finalists will be eligible to apply to MPA for a grant of up to S$50,000 to embark on pilot projects with maritime companies.

Chee Hong Tat, Senior Minister of State for Transport and Foreign Affairs, said: “In today’s age, what gives us a competitive edge is not capital but new ways to unlock value from our businesses. We must ensure that innovation thrives and flourish in Maritime Singapore. This calls for a collaborative approach. Government agencies such as MPA, academia, industry, and solution-providers must come together to translate innovative ideas into real-world solutions. Through SPC, we support technology start-ups to co-create solutions with the industry, which can be exported world-wide.”

Professor Freddy Boey, NUS Deputy President (Innovation and Enterprise), said: “PIER71 is a collaborative effort that brings vital parts of the ecosystem together to fast-track technology solutions industry-wide. Our vision for this partnership with MPA is to raise the competitive edge of start-ups by injecting deep tech developed in Singapore, starting with those from NUS, to strengthen their offering to the industry, and to broaden their reach beyond Singapore.”

At the grand final held on 17 Nov, three promising start-ups were named winners to the Smart Port Challenge (SPC) 2020. The grand final saw eight shortlisted start-ups pitching their proposal to a panel of judges.

The first, second and third place winners were BeeX, FUELSAVE and Vulcan AI. Judged on their proposed solution, business model, market opportunity, impact to the maritime industry and overall team capability, they each walked away with cash prizes of S$10,000 S$5,000 and S$3,000 respectively.

--

--

--

Advocating for Ethics and Transparency in Maritime Asia through independent journalism

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Read Full Article : Learn what startups strategic mobility investors are seeking at TC Sessions…

Our pricing philosophy

The story of a startup selling to restaurants during COVID-19

Startup Founder Stuart Brent

How to calculate Life Time Value (LTV) of your customers correctly

How to Find a Technical Co-Founder For Your Tech Startups? — InvoZone

Our Experience Going Through YCombinator

The 12 step due diligence framework that any Investment Pro should know

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Maritime Fairtrade

Maritime Fairtrade

Advocating for Ethics and Transparency in Maritime Asia through independent journalism

More from Medium

Why not to create separate department level values from company values

Ep 64: SMB more successful with content, Google I/O dreams big but puts in stake around Local…

#35 — Rob Walling of Rob Walling of TinySeed and MicroConf

Starlink for Ukrainians: Mykhailo Fedorov asked, Elon Musk delivered