MOL PLUS announced it has joined Singapore-based PIER71’s network of Venture Capital Partners. On 18 June 2021, PIER71 launched Smart Port Challenge, now in its fifth year, which is organized by the Maritime & Port of Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS). PIER71 Smart Port Challenge 2021 is organized for startup enterprises to propose solutions for issues in five fields: “Smart Ports,” “Smart Ships,” “Crew Safety, Training and Wellbeing” “Smart Maritime Services” and “Green Technology”.

MOL PLUS aims to produce a synergetic effect on startup enterprises’ innovative ideas and technologies and MOL Group resources and create new businesses that “plus new value to ocean shipping industry and society,” through participation in the Smart Port Challenge eco system, which brings together maritime-related startups.

Founded by the Maritime and Port Authority of Singapore (MPA) and the National University of Singapore (NUS), through its entrepreneurial arm NUS Enterprise, PIER71 (Port Innovation Ecosystem Reimagined at BLOCK71) aims to grow Singapore’s maritime innovation ecosystem. PIER71 boosts innovation in the maritime and maritime-related industries by attracting talents, creating opportunities for the exchange of knowledge and ideas, attracting investments into start-ups and accelerating ventures.

PIER71 designs and delivers program to uncover opportunities within the industry and supports entrepreneurs from ideation to acceleration of their ventures. PIER71 provides access to various markets, demand drivers, technology solution providers, investors and more. PIER71 also represents a budding and increasingly vibrant ecosystem of stakeholders who are keen to digitalize and create the next wave of maritime innovation.

For more information, please visit https://www.pier.sg