The 13 tech startups were participants in Smart Port Challenge (SPC) 2018

The Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), have announced the chosen startups out of 17 technology startups from Smart Port Challenge (SPC) 2018. The 13 selected startups will each receive S$50,000 (US$37,000) in seed funding from MPA to further test-bed their solutions, support prototype development, and develop the prototype after gathering feedback from the industry.

In addition to the seed funding, 12 startups were also given the opportunity to pitch their solutions to venture capitalists at the inaugural Mixer and Pitch Session. The event was held as part of the Singapore Maritime Technology Conference (SMTC) 2019 jointly organised with Enterprise Singapore and NUS Enterprise.

Among the venture capitalists who were at the Mixer & Pitch Session were EV Growth, Futurelabs Ventures, Green Meadows Accelerator, SG Innovate, and TNB Ventures.

“As the maritime industry is characterised by its heavily manual and largely paper-based processes, digitisation is the key to unlocking further innovation such as automation, data analytics, and optimisation. It is precisely due to the inefficiencies of traditional processes that we see massive opportunities ahead,” said Vicknesh Pillay, Managing Partner of venture capitalist TNB Aura Fund.

MPA and NUS Enterprise jointly launched PIER71 last year in hopes to spur digital adoption in the maritime industry. One of the key highlights of PIER71 is the Smart Port Challenge, which brings together maritime corporates and technology startups with expertise in various technology areas, such as artificial intelligence, blockchain, Internet of Things, and augmented reality.

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“This encourages the adoption of latest technologies and emerging innovations for a more productive and competitive maritime sector in Singapore,” said Professor Wong Poh Kam, Senior Director, NUS Entrepreneurship Centre, NUS Enterprise.

For the incubation phase and to encourage cross-sharing of services, PIER71 has grouped these startup solutions into clusters of Enabling platforms, Port and Cargo Operations, and Crossed industry/border innovation.

PIER71 has also formed several partnerships to provide these 13 startups with resources. The partners include AdNovum which provides access to security technologies and consultancy service in cybersecurity; Singtel which provides access to its satellite network, Internet of Things (IoT) network and curated data; MarineTraffic which provides access to maritime traffic information; TerraWeather which provides access to weather information; and Panasonic R&D Centre Singapore which provides access to vision and wireless communication technologies.

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One of the recipients of the seed funding was Claritecs. Marianne Choo, Chief Marketing Officer of Claritecs, said: “Claritecs achieved a Top 3 win with ‘BunkerMaestro’, an algorithm-based platform to rejuvenate bunker scheduling operations, with data-driven insights for increased work efficiencies, scheduling clarity, and fleet optimisation. Now, we will enter the test-bed phase from next month, with five bunker tanker operators who collectively manage one-third of Singapore’s bunker tanker fleet.”
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