SEEDS Capital, the investment arm of Enterprise Singapore, is launching a Call-For-Partnership (CFP) with the Maritime and Port Authority of Singapore (MPA) to find investors willing to co-invest with SEEDS Capital in early-stage maritime deep tech start-ups based in the port city.
The new initiative aims to see close to S$60 million (approximately US$44 million) made in joint investments with the private sector to spur innovation in the maritime space. SEEDS Capital will match up at a ratio of 7:3 for the first S$500,000 of co-investment, and up to S$4 million per start-up, under the scheme.
The joint investments will be targeted at growing the identified start-ups and supporting them in developing technology that can improve the operational efficiency, safety and sustainability of the maritime industry.
“It is important for the maritime industry to reimagine the way in which it operates and navigate future challenges of disruption and environmental regulation. So this is a good opportunity for tech start-ups to work alongside with us to co-create solutions to shape the future of Maritime Singapore,” said Tan Beng Tee, MPA’s Assistant Chief Executive (Development).
“The partnership with Enterprise Singapore will enhance our attractiveness as the hub for maritime innovation and this will be vital to taking the industry forward.”
