PIER71, or Port Innovation Ecosystem Reimagined @ BLOCK71, is a strategic collaboration between the Maritime and Port Authority of Singapore (MPA) and the National University of Singapore (NUS), through its entrepreneurial arm, NUS Enterprise
A collaboration between Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, has selected and announced 13 startups that will work alongside PIER71 in providing solutions and support of the industry transformation plans for maritime. The selection was made based on their solutions for the given problem statements at the 2018 Smart Port Challenge, held in Singapore in November last year. Each start-up received US$36,000 in funds from MPA to further develop their prototypes and to solve the challenges faced by maritime corporates in Singapore. Singapore’s maritime eco-system comprises over 5,000 establishments contributing to about 7 per cent of Singapore’s GDP, and employs about 170,000 people. According to the 2019 Leading Maritime Capitals Of The World Report, Singapore has also maintained its position as the maritime capital of the world in three pillars – Shipping, Ports and Logistics, and Attractiveness and Competitiveness.PIER71 in recent times saw the close of its application period for the third edition of the Smart Port Challenge; with 29 problem statements contributed by Jurong Port, PSA Unboxed, TATA NYK Shipping, Wärtsilä, Wilhelmsen, and Vopak for the competitors to address. Out of the 13 startups who received the MPA funding, 11 are Singapore-based.
Following their shortlisting, startups will be put through a six-week program and work with industry partners to sharpen their solutions. This will end in a Grand Final on November 7, 2019 to showcase their solutions to various stakeholders.