SEEDS Capital, the investment arm of Enterprise Singapore, is launching a Call-For-Partnership (CFP) with the Maritime and Port Authority of Singapore (MPA) to identify suitable investors to lead investments in the maritime technology sector.
The CFP will call investors to co-invest with SEEDS Capital in early-stage maritime deep tech startups based in Singapore, in order to advance transformation in the maritime industry through private sector collaboration and technological innovation.
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The joint investments will be targeted at boosting the startups and supporting them in developing innovative technology solutions that can improve the operational efficiency, safety and sustainability across the different clusters of maritime industry, and co-create new business models. These may relate to shipping, port logistics, port operations, and maritime services.
Commenting on the call for investment, Ted Tan, Enterprise Singapore’s Deputy Chief Executive Officer and Chairman of SEEDS Capital, mentioned:
The CFP is part of our continuous effort to partner tech startups with companies and investors to co-develop innovative solutions. We welcome players across the private sector to collaborate with us in this initiative. We look forward to catalyse about S$60 million in joint investments to grow new technology and services that will further strengthen Singapore’s leading position as a hub for maritime, trade and connectivity
In addition, Tan Beng Tee, MPA’s Assistant Chief Executive (Development), highlighted the importance for maritime to reimagine the way in which it operates future challenges of disruption and environmental regulation.