French shipping company CMA CGM’s startup incubator Ze Box and PSA unboXed have signed a Memorandum of Understanding (MoU) to drive digitalization and innovation in shipping and supply chain ecosystem.
Ze Box is CMA CGM’s corporate venture capital arm that invests in start-ups with innovations, while PSA unboXed is PSA International’s external innovation and corporate venture capital arm.
The collaboration builds on already established commercial partnership between CMA CGM Group and PSA International, such as the CMA CGM-PSA Lion Terminal in Singapore.
Under the MoU, both companies will collaborate on the following areas:
- They will support the growth of each other’s ecosystem through the collaboration of resources
- They will collaborate through their corporate innovation programs to address industry problems. They will leverage on each other’s industry knowledge and experience in shipping and supply chain management to provide problem statements as well as real life solutioning capabilities, to test-bed ideas and to achieve better customer experience and operational efficiency
- They will support each other’s mentorship program through the provision of experienced mentors to catalyse the growth of start-ups in the programs
- Ze Box will set up a satellite office within PSA unboXed premises in Singapore.
This partnership will accelerate our digital strategy to achieve better customer experience and operational efficiency, said Rodolphe Saadé, Chairman and Chief Executive Officer from CMA CGM Group.
