Maritime and Port Authority of Singapore launched various initiatives to further support maritime technology (Marinetech) startups in the region.
As part of enhanced plans to develop the Marinetech ecosystem, MPA Singapore goals to support 150 startups by 2025, up from its earlier target of 100, said Senior Minister of State for Transport Chee Hong Tat, who was speaking at the grand finals of the Smart Port Challenge 2021.
MPA has developed the MarineTech Start-up Playbook, to provide information on support schemes and programmes in Singapore relating to capital, talent, technology research and development resources for Marinetech startups.
It has also renewed its partnership with the National University of Singapore’s (NUS) entrepreneurial arm NUS Enterprise for another 3 years, to expand the scope of its innovation programme Pier71 (Port Innovation Ecosystem Reimagined @ Block71).
The new initiatives under the programme will include Pier71 Ascend – a 12-month scale-up programme for mature startups with masterclasses, industry networking sessions, and an immersion programme – as well as structured pitching and venture capital networking events.
Under Pier71, which supports entrepreneurs from ideation to acceleration, Marinetech startups can also link up with NUS’s Industry Liaison Office and tech experts working on maritime-related fields for mentorship and expertise.
Furthermore, MPA will extend the eligibility criteria of the Maritime Innovation and Technology Fund-Startup grant, which awards up to S$50,000 to Pier71 alumni to pilot their projects, and up to S$100,000 for scale-ups.
The grant will be extended to startups identified under recognised partner programmes in Singapore, which are the Eastern Pacific Shipping Ventures, Ocean of Opportunities Challenge by Ocean Network Express and Symphony Creative Solutions, PSA unboXed and Rainmaking Innovation.
Chee noted that Singapore’s maritime sector is going for growth as it emerges from the pandemic, with a key driver being its ambition to be a leading Marinetech hub.
Through MPA and NUS’s renewed partnership and new initiatives, we will support Marinetech companies with access to markets, technology, funding and talent, to enable good ideas to become scalable solutions.
….he said.
In addition, MPA also signed a memorandum of understanding with manufacturing company Wartsila, to collaborate on data sharing that will facilitate timely vessel arrival to the Port of Singapore for just-in-time operations and sustainable shipping.
The collaboration, which will involve using MPA’s one-stop portal for arriving ships and Wartsila’s Navi-Port shipboard system, will also include strengthening secure data exchanges between the Port of Singapore and participating vessels’ shipboard systems, to support the acceleration of digitalisation in the maritime industry.
