Wärtsilä operations in the Dominican Republic. Image courtesy of Wärtsilä.
Wärtsilä has partnered with PIER71, an acceleration programme for start-ups setup by the Maritime and Port Authority of Singapore, and the National University of Singapore to strengthen and mentor maritime start-ups.
Wärtsilä and PIER71 are testing how Wärtsilä’s Venture model can accelerate solution development and innovation when a corporate, start-up, university and port authority partner together.
PIER71 will support Wärtsilä in establishing networks and relationships with the start-up communities in Singapore, allowing Wärtsilä to act as a mentor and provide marine industry insights and expertise.
Director of Digital Ventures at Wärtsilä, Steffen Knodt said: “We are excited about the opportunity to team up with PIER71 on mentoring maritime start-ups.
“It is an important milestone for us to work closer with the start-up ecosystem in Singapore in areas supporting our Smart Marine Vision and to strengthen the cross-ecosystem collaboration within the maritime industry.”
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The initiative will also look to extend outside of Singapore, taking the opportunity to bring in start-ups from Germany and Finland to cross-pollinate the ecosystems.
Director of Digital Innovation & Strategic Projects at Wärtsilä, Chris Chung, commented: “Singapore is a maritime capital and one of the most globally connected countries in the world.
“Initiatives such as PIER71 is a great platform to attract home-grown and global technology start-ups to bring new ideas, business models and solutions to solve real industry challenges.
“We look forward to a vibrant ecosystem that contributes to the sector’s transformation.”