Eastern Pacific Shipping (EPS) has announced that it has invested in seven new start-ups through its Eastern Pacific Accelerator, a partnership with Techstars, as well as another two start-ups outside of the programme.
EPS partnered with Techstars in 2019 to create its mentorship-based programme that has invested in 18 maritime start-ups to date. Like the previous two editions, this year’s Eastern Pacific Accelerator attracted hundreds of applicants from across the world, the firm said.
All applicants went through an evaluation process that resulted in seven founders accepting an invitation to join the accelerator, which comes with a financial investment in their businesses. A further two start-ups from outside the programme will also receive investment and support from EPS.
All nine companies will benefit from access to mentors, industry experts, potential customers, and additional funding opportunities.
“Our platform is designed to help entrepreneurs connect with internal and external mentors, customers and investors. The technology only plays one part in our investment decisions. The people behind the tech are more important,” said EPS Special Advisor for Innovation, Gil Ofer.
“We want to see a strong team with visionary, resilient, and passionate founders. We like to invest in the people because even if the tech doesn’t work out as a business, we know we have bright individuals who will use that as a stepping-stone for the next venture – and we want to be part of that journey.”
The seven start-ups that are part of the EPS and Techstars partnership will provide an update on their progress during a virtual Demo Day taking place next week, on February 17th.