Singapore: Smart Port Challenge garners over 200 proposals from 35 countries

The Singapore’s Smart Port Challenge (SPC) attracted a record number of close to 200 proposals from start-ups in 35 countries responding to the 14 challenge statements on key issues facing the global maritime industry.

The Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS) held the annual PIER71™Great Circle 2024 on Tuesday (19 November) at the Suntec Singapore Convention and Exhibition Centre.

Dr Amy Khor, Senior Minister of State, Ministry of Transport and Ministry of Sustainability and the Environment opened the event as the Guest-of-Honour which featured the 8th edition of the SPC Grand Finals and a MarineTech Start-up Innovation Showcase.

SPC went global, with eight international roadshows held earlier this year in key maritime hubs across America, Asia, and Europe to expand its reach to overseas start-ups.

The 14 challenge statements were divided into four main categories – Maritime Green Technologies, Smart Shipping, Next Generation Ports and Digitalisation. 

The statements under Maritime Green Technologies include managing ammonia risk, improving crew safety in handling methanol as a fuel and enhancing charging and battery performance.

Twenty-eight start-ups were selected to join the 12-week PIER71™ Accelerate programme. This structured accelerator programme helps start-ups test and validate business model and go-to-market strategies for their proposed solutions, guided by mentors and industry domain experts.

Twenty start-ups have secured 30 letters of intent for collaboration with Singapore-based companies, qualifying them for grants of up to SGD 100,000 for proof-of-concept or pilot projects with maritime companies and additional funding’ of up to SGD 250,000 for new product development through the MPA Maritime Innovation and Technology (MINT) Fund. A pre-event session also connected Smart Port Challenge finalists with potential funding partners.

Three participating start-ups, Sweden-based Cetasol, Hong Kong S.A.R-based Clear Robotics, and South Korean-based Mapsea Corporation, have also established offices in Singapore as part of their regional expansion plan.

Clearbot, Open Ocean Robotics, and GT Wings emerged as the first, second and third placed winners of the SPC Grand Finals 2024 respectively and Thiospark Energy received a Special Mention based on quality of innovation, market potential in Singapore and the region, industry relevance, and team experience.

Mr Teo Eng Dih, Chief Executive, MPA, said, “We are glad that the Smart Port Challenge is supported by global partners across innovation hubs in America, Asia and Europe. With PIER71TM expanding its outreach, this will help grow the start-up enterprise and innovation ecosystem in Singapore serving the global maritime community. I congratulate this year’s finalists and winners and look forward to seeing their solutions come to fruition.”

Professor Chen Tsuhan, Deputy President (Innovation and Enterprise), NUS, said: “PIER71™ has been evolving its programmes to stay ahead of the changing global maritime industry. By expanding our network of mentors, domain experts, and partners worldwide, we help start-ups gain better access to market validation and growth opportunities. We also value our strong partnership with MPA, our co-founding partner, as we continue to work together to drive research, innovation, talent development, and entrepreneurship across the maritime sector.”

Photo credit: Maritime and Port Authority of Singapore
Published: 21 November, 2024