Brazil and Singapore start-up partnership between Cubo Maritime and PIER71
Brazil’s Cubo Maritime & Port, which has become a hub of start-ups and gathered more than 90% of Brazilian start-ups in one year of operations, has announced it has formed an informal partnership with Singapore-based PIER71, Seatrade Maritime reports.
Both partners have agreed to promote each other’s innovation competition, encouraging active participation from Brazilian and Singaporean marinetech start-ups to ease the entry of interested Brazilian and Singaporean marinetech startups into each other’s countries; and connecting them to relevant ecosystem partners.
Since 2018, PIER71TM has developed a marinetech start-up ecosystem with a strong international reputation in Singapore. Through their annual Smart Port Challenge competition, they have worked with more than 50 industry partners to develop more than 100 innovation opportunities; and have nurtured over 100 start-ups from diverse countries.
Enterprise Singapore, an agency under the Ministry of Trade & Industry of Singapore, will coordinate the scouting of start-ups for these challenges and assist the start-ups into the Brazilian market. Other planned initiatives include organising B2B matching and networking opportunities, ideation and knowledge sharing between entrepreneurs from both countries.
Cubo Maritime & Port should launch a project aimed at developing ESG start-ups, focused on decarbonisation, and other solutions that will be discussed for the integration of shiptechs, remote or autonomous operations of ships and port equipment, in addition to collaboration and data sharing.
Cubo Maritime & Ports was created by Cubo Itaú and sponsored by industry specialists Wilson Sons, Porto do Açu and Hidrovias do Brasil. Since its launch, the hub has provided executives with mentoring programmes with start-ups, and business networking and knowledge development events.
In 2022, the start-ups earned more than $18 million and received financial contributions totalling over $5.2 million. These entrepreneurs expect that, in 2023, by joining Cubo Maritime & Port, revenues will grow by more than 60% on average, compared to 2022. Regarding personnel and number of clients, the start-ups expect to see a 30% increase in each of these areas.
At the end of last year, Wilson Sons made a financial contribution to Argonáutica, purchasing a minority interest in the Brazilian start-up that developed the innovative technology of “dynamic draft”, which optimises ship loading and berthing at port terminals.
In a collaboration with Argonáutica, Wilson Sons implemented the new operating system for its Tugboat Operation Centre (COR), in Santos (São Paulo). For higher operating efficiency, safety and sustainability, this month, the new ArTeMIS system developed by Argonáutica has started to monitor in real time the company's fleet of 81 tugboats on the Brazilian coast. One of its distinctive features is the integration with external data sources to check the weather conditions at the ports, including tide, current and wind.
“We are experiencing an unprecedented moment in the industry, in which new technologies will make port operations and shipping increasingly more efficient, safer, and sustainable,” said Wilson Sons Digital Transformation Drector Eduardo Valença.
“We need to translate this scenario into efficiency gains, by promoting the emergence, development and proliferation of start-ups with impactful solutions for our industry,” he added.