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The Maritime and Port Authority of Singapore (MPA) and NUS Enterprise have officially launched the Smart Port Challenge (SPC) 2024. The launch emphasised Singapore’s commitment to fostering innovation and maintaining its status as a global maritime hub.
Dr Amy Khor, Senior Minister of State for the Ministry of Transport and Ministry of Sustainability and the Environment presided over the launch. The launch event was part of a premier technology and innovation festival in the region. This significant event attracted a diverse crowd, including international startups, venture capitalists, and industry leaders.
For the first time, SPC2024 is expanding its reach with concurrent launches in Singapore and various international markets. PIER71™, the organising body of SPC2024, is leveraging the extensive global network of BLOCK71, a NUS Enterprise initiative that supports startups in key markets, and MPA’s new regional offices.
This strategic expansion includes six international roadshows in major maritime hubs across Asia, Europe, and North America, scheduled for June 2024. These roadshows are designed to attract global startups, innovators, and venture capitalists, showcasing Singapore’s dynamic technology and innovation ecosystem.
The objective is to highlight the significant investment opportunities available and to encourage overseas startups to bring their innovative solutions and technologies to Singapore, further integrating them into the global maritime industry.
SPC2024 has outlined 14 challenge statements across four critical focus areas:
- Maritime Green Technologies: Solutions that promote environmental sustainability and reduce carbon emissions within the maritime sector.
- Smart Shipping: Innovations that enhance the efficiency, safety, and automation of shipping operations.
- Next-Generation Ports: Technologies that transform port operations through advanced infrastructure, logistics, and management systems.
- Digitalisation: Incorporating AI, cybersecurity, and cloud technologies to drive the digital transformation of the maritime industry.
These challenges address pressing issues within the global maritime sector, offering startups numerous opportunities to contribute meaningful and transformative solutions. Shortlisted startups in SPC2024 will engage in a comprehensive 12-week PIER71™ Accelerate programme. This accelerator provides mentorship, industry connections, and resources to refine and develop their solutions. Additionally, selected startups may qualify for funding through MPA’s Maritime Innovation and Technology (MINT) grant programme.
Grants of up to S$100,000 are available for proof-of-concept or pilot projects, with up to S$250,000 for new product development initiatives. The top three winners of SPC2024 will also receive cash prizes during the finals in November 2024. Startups are encouraged to submit their proposals through the PIER71™ website by 8 July 2024, seizing the chance to contribute to the future of maritime technology and innovation.
Kenneth Lim, MPA’s Assistant Chief Executive (Industry & Transformation), emphasised the relevance of the PIER71™ Smart Port Challenge in promoting innovation and accelerating the development of cutting-edge maritime technologies. He expressed excitement about the international roadshows and the novel solutions they might attract.
Professor Chen Tsuhan, NUS Deputy President (Innovation and Enterprise), highlighted the collaboration’s potential to broaden the impact of maritime innovation both in Singapore and globally. By leveraging NUS’ resources and the global BLOCK71 network, the partnership aims to support startups and innovators, driving significant advancements in the maritime industry.
PIER71™, established by MPA and NUS Enterprise, aims to grow Singapore’s maritime innovation ecosystem by attracting talent, facilitating knowledge exchange, and promoting investments in startups. It supports entrepreneurs from ideation to acceleration, providing access to markets, technology solution providers, and investors.
The Maritime and Port Authority of Singapore (MPA) develops Singapore as a premier global hub port and international maritime centre, focusing on safety, security, environmental protection, digitalisation, and decarbonisation.
The National University of Singapore (NUS) is a leading global university emphasising education, research, and entrepreneurship with an Asian perspective. NUS fosters multidisciplinary approaches to global issues and supports innovation through NUS Enterprise.
