Maritime R&D fund to raise co-funding to up to 70% after S$15m MPA top-up

05 Mar, 2021

THE Maritime and Port Authority (MPA) will top up S$15 million to a fund that supports maritime research and development (R&D) and product development, as Singapore aims to be the Silicon Valley for maritime technology, said Senior Minister of State for Transport Chee Hong Tat on Friday.

Further, the government aims to more than triple the number of maritime tech startups supported under the innovation platform PIER71 (Port Innovation Ecosystem Reimagined @ BLOCK 71) funding programme from 30 to 100 by 2025.

Read full article from The Business Times here.

Shortlisted finalists are enrolled in a two-phase, 12-week programme.

Phase 1: Fit Check - Market Discovery and Validation

Kickstart your journey by diving deep into the heart of your market! In this phase, we'll help you answer the pivotal question: Is there a product-market fit for your solution? Validate your tech, test your assumptions, and find the perfect match for your innovation. A review will be conducted at the end of Phase 1. Only selected participants will advance to Phase 2.

Phase 2: Gap Busters - Navigating New Markets

Now, it's time to bridge the commercial gap. In this phase, you’ll partner with industry veterans who bring sharp business insights to the table. Together, you’ll navigate and conquer markets that may be uncharted territory for your startup.

Although the programme is designed for remote and overseas participants, in-person participation is required for the following events conducted in Singapore: