PIER71 – Five years of funding for maritime start-ups

PIER71TM takes pride in being the first maritime technology ecosystem builder in the region and has become perhaps best-known for its flagship Smart Port Challenge.

Port Innovation Ecosystem Reimagined at BLOCK71, or PIER71TM for short, was co-founded by the Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), with the aim of making Singapore a vibrant maritime ecosystem, that leads world-class innovation.

With only 18 startups in the first Smart Port Challenge program in 2018, PIER71TM has since nurtured 100 startups through its programs, helping entrepreneurs from idea to accelerating their ventures. PIER71TM also works closely with an increasingly vibrant ecosystem of companies, industry associations, academia and other stakeholders interested in digitizing and creating the next wave of maritime innovation.

“Prior to the formation of PIER71TM, the maritime start-up scene was rather reticent and fragmented,” noted Brian Koh, Director of Ecosystem Builder, NUS Enterprise.

Source: News Network