More than S$100million raised by startups since 2018
The Maritime and Port Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), have renewed their partnership for another three years to further develop Singapore into a leading maritime technology startup hub through the PIER71™ (Port Innovation Ecosystem Reimagined @ BLOCK71) programme.
2. Under the renewed partnership, MPA and NUS Enterprise will introduce new initiatives to strengthen the PIER71™ brand and programmes, attract more innovative startups from around the world, support their growth in Singapore, and help them expand to the region and beyond. These include:
a. Expanding the global outreach of PIER71™ by collaborating with major maritime innovation clusters and adjacent industries to attract high-quality startups to Singapore and support local startups in expanding overseas. This will be done through collaborations with partners such as NUS Enterprise as well as through MPA’s regional offices and representatives.
b. Organising technology and networking events to facilitate collaborations and profile Singapore’s vibrant MarineTech ecosystem.
c. Enhancing business support services provided by PIER71™ Landing Pad, a co-working and networking space at JTC Launchpad @ one-north, which offers specialised guidance to help MarineTech startups address operational and growth challenges while they establish their office in Singapore.
d. Catalysing venture capital investment and deals to support MarineTech startups in Singapore.
3. Since its launch in 2018, PIER71™ has nurtured over 140 MarineTech startups. These startups have raised over S$100 million in investments since the initiative was launched on 2018, with 14 startups raising close to S$28.9 million in 2024. MPA has awarded grant funding to 61 startup projects, with over 27 technologies developed through these projects being deployed in the maritime industry to date.
4. Mr Teo Eng Dih, Chief Executive, MPA, said, “Singapore is committed to fostering a dynamic and globally connected Marine Tech ecosystem. By expanding PIER71™’s overseas outreach, strengthening business support, and catalysing investment, we aim to attract talent and startups to drive the next wave of maritime innovation in support of the growth of Maritime Singapore.”
5. Dr Tan Sian Wee, Senior Vice President (Innovation & Enterprise), NUS, said, “PIER71™ has played a key role in building the maritime innovation ecosystem through our partnership with MPA, supporting over 140 startups that have raised over S$100 million. Renewing this collaboration will further accelerate MarineTech innovation. With NUS’ entrepreneurial resources and BLOCK71’s global network, we will continue empowering startups to address key maritime challenges. This partnership also reinforces Singapore’s standing as the world’s top maritime centre, a position held for 11 consecutive years.”
6. Associate Professor Benjamin Tee, Vice President (Ecosystem Building), NUS Enterprise, said, “Through initiatives like the Smart Port Challenge and PIER71™ Ascend, we have created a platform that helps startups innovate and scale in the maritime sector. Last year, the Smart Port Challenge received a record number of nearly 200 proposals, and we are looking forward to even more this year. These programmes provide key support, from mentorship to funding, helping MarineTech startups turn their ideas into impactful solutions."
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