Asia/Pacific News
Singapore Backs Next Generation Marine Tech Firms
Tech start-up firms focused on the marine space have received progress grants from the Maritime and Port Authority of Singapore.
Twelve Singapore-based firms have been awarded S$600,000 ($420,000) each to work on prototypes of their various products. Tropical Renewable Energy Engineering's 2G units convert heat to energy from multiple gas fuels while Marified slots seafarer paperwork into the digital space.
"The funding will enable the start-ups to conduct prototype development and test-bed their near market-ready solutions," the MPA said.
The authority's chief executive said it was important to push ahead on innnovation despite the current situation.
"Although the global COVID-19 situation has caused widespread disruption, we push ahead with innovation in the maritime sector," Quah Ley Hoon said.
"Singapore continues to support the use of emerging technologies to transform the maritime industry," she added.
Previous recepients of these awards, which form part of the PIER71 initiative, have taken their products to market.
