Singapore-based shipping company Eastern Pacific Shipping (EPS) has partnered with early stage technology investor and accelerator Techstars to launch a dedicated global maritime accelerator, with nine start-ups selected to join the programme at launch.
The ‘Eastern Pacific Accelerator powered by Techstars’ says it selected the launch group from hundreds of worldwide applicants, with input from EPS’ Operations, Marine Technical, Commercial, IT, Fleet Personnel, and Management teams.
Those EPS teams will now work closely with each start-up to test their technologies and assist them in accelerating the growth of their businesses, beginning with an intensive three-month programme of research and development, mentorship, and collaboration at EPS’ headquarters in Singapore.
The programme will also offer access to EPS’ operational data, and the opportunity to deploy new technologies on the shipping company’s diverse fleet of more than 150 vessels for testing purposes. In February 2020 the accelerator will culminate in a Demo Day where the founders will pitch to an audience of investors, multinationals, government partners and other ecosystem players.
The nine start-ups are from Singapore, Denmark, the UK and the US. One of the start-ups, C-Log, has recently moved its global headquarters to Singapore, while US-based Volteo has spun-off Volteo Maritime as a Singapore company. Nautilus Labs is also establishing a permanent presence in Singapore while keeping its headquarters in New York City.
The other chosen start-ups are CyberOwl, Enermo Technology, F-drones, QuantShip, Saara and SeaMiles.
“We see a need for technology to propel the maritime industry forward, especially with a rapidly digitalising society and an increase in global trade,” said Gil Ofer, the Head of Open Innovation at Eastern Pacific Shipping.
“That means the shipping industry needs to innovate to solve problems such as fuel consumption, operational efficiency, fleet performance, and improving life-at-sea for seafarers – and we are doing just that with the Eastern Pacific Accelerator powered by Techstars.”
“For these pioneering start-ups, EPS can provide access to a deep network of industry players, real-world data, and operational insights from our experienced maritime experts that will accelerate the development of their products.”