Smart Port Challenge 2021 Launched, Start-up Grant Recipients Announced

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  • MPA and NUS Enterprise announced the launch of Smart Port Challenge (SPC) 2021 under Port Innovation Ecosystem Reimagined @ BLOCK71 (PIER71).
  • Joining PIER71’s network of Venture Capital (VC) partners this year are: IMC Ventures, Motion Ventures and MOL PLUS.
  • Maritime technology start-ups will be able to tap on S$30 million of potential funding from these individually-managed funds.

A recent news source published in the Xinde Marine News states that Seven Start-up Grant Recipients Announced at Launch of Smart Port Challenge 2021.

Seventeen innovation opportunities

Seventeen innovation opportunities have been co-created with 21 maritime corporates in the areas of (1) Smart Port; (2) Smart Ship; (3) Crew Safety, Training and Wellbeing; (4) Smart Maritime Services and Logistics; and (5) Green Technology for SPC 2021.

Technology start-ups are invited to submit proposals for consideration.

What will the shortlisted start-ups will gain?

Shortlisted start-ups will gain access to PIER71 Accelerate, a six-week market validation and customer discovery programme.

The program deals with PIER71’s global network of partners, mentoring,workshops and masterclasses, the opportunity to win top three cash prizes of S$10,000, S$5,000 and S$3,000 respectively.

The program also supports continued entrepreneurial and technical support beyond SPC.

Finalists are also eligible to apply for MPA’s MINT-STARTUP grant of up to S$50,000 to pilot their projects.

SPC has supported close to 60 start-ups

Now into its fifth year, SPC has supported close to 60 start-ups to date through PIER71 Accelerate.
Seven start-ups from last year’s SPC  have been awarded with MPA’s start-up grant for prototype development and test-bedding, bringing the total grant funding disbursed to past PIER71 start-ups to about S$2 million.
Over the next 12 months, these start-ups will collaborate with PIER71’s maritime corporate partners on pilot projects that focus on the use of autonomous robotics, vision analytics, virtual reality, artificial intelligence, among others.

What does the Ministry of Transport state?

Mr Chee Hong Tat, Senior Minister of State, Ministry of Transport, said, “While Maritime Singapore has remained resilient during the pandemic, we should ride on this momentum to build even stronger capabilities and position ourselves to grow further and be ready for the future. Innovation in the area of maritime technology (Marinetech) will be key. Marinetech is a fast-growing area with a promising future. Singapore is well-placed to develop this sector as we have strengths in both maritime and technology. By bringing together problem statements and solutions for the maritime sector, Smart Port Challenge has become a key pillar of our efforts to develop a strong Marinetech sector in Singapore.”

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Source:  Xinde Marine News