PSA unboXed, the Singapore-based company’s innovation and corporate venture capital arm, and Israeli-based theDOCK have entered into an agreement to leverage technologies that will benefit the port, maritime and supply chain sector.
Global ports, shipping and maritime logistics innovation hub theDOCK connects creative startups with worldwide leading maritime corporations through matching technology solutions with the challenges and needs of its corporate partners.
Under its agreement with PSA unboXed the logistics hub will scout, screen and invest in promising startups which provide solutions addressing specific challenges cited by PSA.
PSA unboXed vice president Elton Fong said: “PSA unboXed endeavours to be a thought leader and the go-to partner in the startup ecosystem for ideation, co-creation and validation of technology and solutions for the port, maritime and supply chain spaces.
“We believe that this strategic partnership with theDOCK will help PSA benefit from Israel’s vibrant innovation ecosystem, and improve the dynamism of the industry.”
The partnership will kick-start with the first ever maritime tech Hackathon in Israel, solely dedicated to a list of challenges which reflect the digital transformation needs in the port and shipping sector, scheduled to take place in June 2019.
Nir Gartzman, co-founder and COO at theDOCK, said: “We are excited by the prospects of engaging creative ideation and solution providers to tackle transformation of this sector.
“Of specific interest will be areas such as ports and its adjacent spaces including maritime, logistics, supply-chain and all that is associated with containerised cargo flow.”
A study conducted by the logistics hub demonstrated the relevance of many innovative start-ups that address these areas that span over IoT, AI, BI, data science, AR/VR and Cyber among others.
PSA unboXed joins theDOCK’s network of global maritime leading corporations that recognise the potential of scouting for innovative technologies in Israel which include partner’s such as Maersk, Cargotec and others.
PSA has already participated in theDOCK’s demo day of its Wave1 PORTfolio startups and the screening day of Wave2 and so Gartzman is confident that the two companies will work well together.
Hannan Carmeli, co-founder and CEO of theDOCK, said: “We are very pleased with the prospects of partnership with PSA.
“Together, we could push the envelope on technology innovation to benefit the sector.”