NYK has signed an agreement to invest in “Navigator II,” an investment fund managed by theDOCK, an Israeli venture capital firm specializing in maritime technology, according to the company's release.
Navigator II invests in and supports startup companies that research and develop innovative technologies in the fields of shipping, ports, and supply chains. Through Navigator II, NYK will promote open innovation with startup companies by identifying new technologies and ideas that will strengthen existing businesses and create new businesses.
In the past, NYK has directly invested in startup companies having innovative technologies in the fields of decarbonization and DX (Digital Transformation) and has also launched startup accelerator programs that create opportunities to collaborate with emerging startups through joint platforms with other companies. NYK has now decided to invest in Navigator II based on the judgment that it will become more important to collaborate with startup companies researching various technologies in the fast-growing fields of decarbonization and DX on a global scale. This is the first time that NYK has signed an agreement to invest in an investment fund managed by a venture capital firm specializing in the maritime business.
This investment is not limited to a simple investment. NYK and theDOCK will acquire know-how, including the discerning ability of venture capitalists, through personnel exchanges, including secondment from NYK, and through joint discovery and evaluation of startups. Additionally, the two companies will further accelerate activities to create new value by accumulating this knowledge and building new networks in conjunction with an innovation ecosystem that includes startups.
In February 2021, NYK released the “NYK Group ESG Story,” which aims to further integrate ESG into the company’s management strategy and promotes activities that contribute to the achievement of the SDGs through business activities. In March this year, NYK released the updated “NYK Group ESG Story 2022,” which introduces initiatives for integrating ESG into the Group’s management strategies set forth in the "NYK Group ESG Story" and provides a partial explanation of the Group’s sustainable growth strategy from a long-term perspective. To strongly promote ESG management, the NYK Group will promote the creation of new value as a sustainable solution provider.