Smart Port Challenge 2024 has its winners

This year’s Smart Port Challenge, an annual innovation competition in Singapore, has attracted a record number of nearly 200 proposals from startups in 35 countries.

As informed, twenty-eight startups were selected to join the 12-week PIER71 Accelerate program which helps startups test and validate business models and go-to-market strategies for their proposed solutions, guided by mentors and industry domain experts.

In addition, twenty startups have secured 30 letters of intent for collaboration with Singapore-based companies, qualifying them for grants of up to S$100,000 (about $74,500) for proof-of-concept or pilot projects with maritime companies and additional funding of up to S$250,000 for new product development through the MPA Maritime Innovation and Technology (MINT) Fund.

Winners of Smart Port Challenge Grand Finals 2024

Hong Kong-based AI-powered technology solutions provider Clearbot, Canada-based solar-powered uncrewed boat specialist Open Ocean Robotics, and the UK-based wind propulsion systems designer GT Wings emerged as the first, second and third placed winners respectively.

In addition, Thiospark Energy received a Special Mention based on quality of innovation, market potential in Singapore and the region, industry relevance, and team experience.

For the first time, additional awards of S$10,000 were awarded to Mapsea for Artificial Intelligence (supported by Amazon Web Services (AWS)), GT Wings for Maritime Sustainability Innovation (supported by OCBC Bank) and Planys Technologies for Smart Port (supported by PSA Singapore).

The 8th edition of the Smart Port Challenge Grand Finals was held as part of the annual PIER71 Great Circle 2024 organized by the Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS).

“We are glad that the Smart Port Challenge is supported by global partners across innovation hubs in America, Asia and Europe. With PIER71TM expanding its outreach, this will help grow the start-up enterprise and innovation ecosystem in Singapore serving the global maritime community. I congratulate this year’s finalists and winners and look forward to seeing their solutions come to fruition,” Teo Eng Dih, Chief Executive, MPA, commented.

“PIER71™ has been evolving its programmes to stay ahead of the changing global maritime industry. By expanding our network of mentors, domain experts, and partners worldwide, we help start-ups gain better access to market validation and growth opportunities. We also value our strong partnership with MPA, our co-founding partner, as we continue to work together to drive research, innovation, talent development, and entrepreneurship across the maritime sector,” Chen Tsuhan, Deputy President (Innovation and Enterprise), NUS, said.

“We are thrilled to sponsor this year’s Smart Port Challenge. This collaboration underscores OCBC’s commitment to driving maritime innovation globally and supporting our clients on their journey towards net-zero emissions. As the first Southeast Asian bank to adopt the Poseidon Principles—a global framework for assessing and disclosing the climate alignment of the shipping sector to promote its decarbonisation —we are excited to support the talented start-ups in the PIER71 cohort and industry partners to co-develop innovative decarbonisation solutions. Together, we can pave the way for greener oceans and transform maritime operations for generations to come,” Angeline Teo, Head of Global Transportation, Global Corporate Banking, OCBC, noted.

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