Miguel Cordon · · 1 min readNUS, MPA Singapore to invest $480,000 in 13 startups aimed at solving maritime challenges
The Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore, is set to back 13 out of 17 startups that are developing solutions for key industry challenges with a fund of about US$480,000.
Photo credit: National University of Singapore
Each of the chosen startups would receive about US$37,000 in seed funding from the MPA to develop prototypes and test their solutions, according to a statement.
In addition to funding, 12 startups also got the chance to present their solutions to venture capital firms during the inaugural Mixer and Pitch Session at the Singapore Maritime Technology Conference 2019.
The startups were selected from Smart Port Challenge 2018, which was part of MPA and NUS Enterprise’s jointly launched PIER71, an initiative aimed at supporting the maritime innovation ecosystem.
In October 2018, the university unveiled a new initiative called NUS Graduate Research Innovation Programme (GRIP), which will tap its pool of talented individuals to establish and lead potential startups focused on deep technology. Through the project, NUS will commit US$18 million to co-create up to 250 companies within five years.
Editing by Eileen C. Ang
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