THE Maritime and Port Authority of Singapore is investing S$650,000 in seed funding for tech startups to develop innovative solutions to address key maritime challenges in Singapore, MPA and NUS Enterprise announced on Friday.Thirteen out of the 17 tech startups from the Smart Port Challenge 2018 will each receive S$50,000 in seed funding from MPA, as their solutions were close to reaching the market.
The PIER71 or the Port Innovation Ecosystem Reimagined @ Block71 programme supports innovation and encourages the maritime industry to venture into new growth areas through collaboration with tech start-ups. It was officially launched in June last year. Jointly organised with Enterprise Singapore and NUS Enterprise, the session aims to strengthen the development of the maritime innovation ecosystem, and open up opportunities in the maritime industry for start-ups and venture capitalists .
Two partners include AdNovum, which provides access to security technologies and consultancy service in cybersecurity, as well as Singtel which provides access to its satellite network, Internet of Things network and curated data.
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