Port Innovation Ecosystem Reimagined @ BLOCK71 (PIER71) has revealed this year’s top three startups that address issues facing Singapore’s maritime sector. Dr. Lam Pin Min, Senior Minister of State for Transport and Health, announced the winners at the third Smart Port Challenge (SPC) Grand Final.

The SPC is one of several industry-wide initiatives under PIER71, a collaboration between the Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS). It aims to build a maritime entrepreneurial and innovation ecosystem in Singapore.

One of the highlights of PIER 71 is the PIER71 Accelerate – a five-week market and business model validation programme that comprises a two-day boot camp at the end of September. There were 24 startups selected from among 200 applications for the Smart Port Challenge to come up with solutions to 28 challenge statements identified by maritime companies in the areas of port operations, shipping, and maritime services.

Also Read: PIER71 collaborates with 13 startups, presenting tech solutions for Singapore’s maritime industry

The three winners of the Smart Port Challenge are:

  • Dravam, a real-time early detection system for marine fuel, installed seamlessly onto a vessel. This patented solution is aimed at ensuring the quality of the fuel that is bunkered and addresses the industry’s need for quicker bunker quality testing.
  • KoiReader Technologies, a machine learning visual recognition system that extracts unstructured textual data from images and translates them into usable structured data. This improves the accuracy of filling up logistics data for regulatory clearance and reduces the risks associated with the misdeclaration of dangerous goods.
  • Teqplay, a platform that collects, bundles and refines public data combined with machine learning and artificial intelligence to create a shared picture that empowers the shipping industry to make smarter and better-informed decisions in the planning and execution of port calls, and maritime supply chain.

​Dr. Lam said, “In the two years since we started the Smart Port Challenge, the number of quality proposals we received from start-ups has more than doubled. Smart Port Challenge brings fresh ideas to pressing challenges such as digital disruption and tighter environmental regulations, and will inject life and vibrancy to the maritime innovation ecosystem.”

After the Grand Final, PIER71 will continue to support all SPC participants through corporate matchmaking and mentorship to tackle the challenges identified by maritime corporates. They can also participate in community events with ecosystem partners, and engagements with enterprises and government entities.

Also Read: MPA and NUS Enterprise to inject US$479K seed funding to 13 startups

All 24 startups, 15 of which are Singapore-based, including the ten who took part in the Grand Final, will also be eligible to apply for the MPA grant worth up to S$50,000 (US$36,700) each, to help with the development of their minimum viable products or solutions.

​The 2019 cohort also builds on the successes of PIER71’s first cohort unveiled in November 2018.

SkyLab, a deep technology software start-up, is expanding into the Indonesian market as well as forming a strategic partnership with one of the largest data analytics firms in Chongqing, China. Claritecs, a digital bunker start-up, also announced their S$850,000 (US$62,400) pre-series A funding from Bernhard Schulte INNOPORT last month.
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Picture Credit: PIER71

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