NO: DELENG / 2017 / 70663
official media partner of national maritime foundation
New initiatives to benefit Maritime technology startups: Singapore
Team Sea and Coast | 30/06/2020

Owing to the new initiative by SEEDS Capital more than 50 auspicious Singapore-based start-ups will get liquidity boost. SEEDS Capital, has appointed six co-investment partners to provide the maritime ecosystem a strong leg-up by catalysing a combined S$50 million of investments into maritime technology startups. Innoport, KSL Maritime Ventures, PSA unboXed, Rainmaking, ShipsFocus-Quest Ventures and TecPier are the six partners.

Aided by Enterprise Singapore (ESG) and the Maritime and Port Authority of Singapore (MPA), the newest objective of SEEDS Capital is to drive the growth of the Maritime sector through innovation and technology. Invigorating the capability of the sector is awaited to enhance in turn the resilience of key economic pillars such as the logistics, manufacturing, and wholesale trade sectors which are reliant on smooth and efficient global supply chain routes.

Ted Tan, Chairman of SEEDS Capital and Deputy Chief Executive Officer of Enterprise Singapore quoted, “As a global hub for trade and connectivity, we have continually leveraged technology and innovation to develop and facilitate efficient, resilient and secured trade flows. The COVID-19 pandemic has underscored the need to accelerate the transformation of our industries. We look forward to working closely with our six co-investment partners to harness their expertise and networks to further strengthen Singapore’s innovation and startup ecosystem,”

SEEDS Capital and the agreed partners will invest in early-stage maritime technology start-ups to build innovative and long-term solutions that refine operational efficiency and safety across the different divisions of the maritime sector. The partners will come up with hands-on assistance in helping early-stage start-ups to fast-track commercialisation, with mentorship and connection to potential clients through their networks.