PIER71 Unveils Top Three Start-ups at 2019 Smart Port Challenge

first_imgDravam – Dravam’s innovative fuel quality monitoring solution is areal-time early detection system for marine fuel, installed seamlessly onto avessel. This patented solution is aimed at ensuring the quality of the fuelthat is bunkered and addresses the industry’s need for quicker bunker qualitytesting. The 24 start-ups, of which 15 are Singapore-based, focused ontechnologies such as artificial intelligence, virtual and augmented reality,blockchain, robotics and wearables, among others. More than half of thesestart-ups have already received letters of intent from maritime companies tobuild on the solutions they propose. Teqplay – Teqplay has developed a platform that collects, bundles andrefines public data. Combining that with machine learning and artificialintelligence, they create a shared picture that empowers the shipping industryto make smarter and better informed decisions in the planning and execution ofport calls, and maritime supply chain. 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 pre-series A funding from Bernhard Schulte INNOPORT last month. KoiReader Technologies – KoiReader Technologies has developed aninnovative machine learning visual recognition system that extractsunstructured textual data from images and translates them into usablestructured data. This improves the accuracy of filling up logistics data forregulatory clearance and reduces the risks associated with mis-declaration ofdangerous goods. The Smart Port Challenge culminated in the Grand Final today, which saw10 out of 24 start-ups pitching to an audience of over 300 investors, corporatepartners, venture capitalists, and maritime professionals. The three winnersare: Port Innovation Ecosystem Reimagined @ BLOCK71 (PIER71) unveiled this year’stop three start-ups tackling issues facing Singapore’s maritime sector. Dr Lam PinMin, Senior Minister of State for Transport and Health, announced the winnersat the third Smart Port Challenge (SPC) Grand Final. Author: Baibhav Mishracenter_img Dr Lam said, “As the world’s busiest transhipment container port and aleading maritime hub, Singapore offers tremendous opportunities for start-upsin the maritime sector. In the two years since we started the Smart PortChallenge, the number of quality proposals we received from start-ups has morethan doubled. Smart Port Challenge brings fresh ideas to pressing challengessuch as digital disruption and tighter environmental regulations, and willinject life and vibrancy to the maritime innovation eco-system.” Sea News, November 8 After the Grand Final, PIER71 will continue to support all SPCparticipants through corporate matchmaking and mentorship to tackle thechallenges identified by maritime corporates. They can also participate incommunity events with ecosystem partners, and engagements with enterprises andgovernment entities. All 24 start-ups, including the ten who took part in theGrand Final, will also be eligible to apply for the MPA grant worth up toS$50,000 each, to help with the development of their minimum viable products orsolutions. The SPC is one of several industry-wide initiatives under PIER71, a collaborationbetween the Maritime and Port Authority of Singapore (MPA) and NUS Enterprise,the entrepreneurial arm of the National University of Singapore (NUS), to builda vibrant maritime entrepreneurial and innovation ecosystem in Singapore. One ofthe highlights of PIER 71 is the PIER71 Accelerate – a five-week market and businessmodel validation programme that comprises a two-day bootcamp at the end ofSeptember. Hailing from Singapore, Japan, and as far as Denmark and Canada, 24 start-upswere selected from among 200 applications for the Smart Port Challenge to comeup with solutions to 28 challenge statements identified by maritime companies inthe areas of port operations, shipping and maritime services. Professor Freddy Boey, NUS Deputy President (Innovation and Enterprise) said,“NUS Enterprise has a strong foundation in spearheading the start-up ecosystem.PIER71 is one example of how the university can foster collaboration between maritimecompanies, technology start-ups and individuals from the maritime ecosystem,such as business owners, suppliers, and operators to drive innovation and positionSingapore as a vibrant and innovative maritime hub.” Vivek Premanadhan, Dravam CEO & Founder, winner of the Grand Final commented,“It has been an exhilarating experience being part of Smart Port Challenge.PIER71 Accelerate is such a unique programme – the quality of mentorship,workshops and networking opportunities is second to none. The last five weekshas brought us closer to being market-ready and we are very honoured by this winand excited to be part of this ecosystem.”last_img

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