The international ship management company Eastern Pacific Shipping (EPS) has joined force with entrepreneur network Techstars to launch the first global maritime technology start-up accelerator.
The EPS MaritimeTech Accelerator will be based in EPS’ headquarters in Singapore and this mentorship-driven startup accelerator partnership will be the first of its kind to target the maritime industry, said a company press release.
“The merchant maritime industry is one of the oldest in the world, yet advancements in the business come slowly, lagging behind the latest technological trends that other mature industries readily adopt,” said Gil Ofer, Business Development Manager of EPS. “Eastern Pacific Shipping aims to address this long-standing issue by partnering with Techstars to launch the world’s first global MaritimeTech accelerator to cultivate and mentor the next generation of entrepreneurs in an industry that is ripe for disruption.”
From April 2019, the EPS MaritimeTech Accelerator Powered by Techstars will accept applications from startups around the world and ultimately select ten companies – including the most promising Singapore and regional early-stage ventures – to participate in the inaugural class. In November 2019, the class will gather in EPS’ headquarters in Singapore for an intensive three-month programme of research and development, mentorship, and collaboration.
The accelerator will culminate in February 2020 with a demo day wherein every startup will pitch its newly polished business to an audience of venture capitalists, corporate innovation leaders and industry experts with the goal of facilitating investment in the companies while broadening and energising the local entrepreneurial community.
Will Robinson, VP of Asia-Pacific Sales at Techstars said, “Eastern Pacific Shipping is one of the top global players in the merchant maritime space with a clear innovation-driven agenda that’s poised to disrupt the industry. This partnership is a great match for Techstars, and we’re thrilled to partner with EPS in the world’s maritime and shipping capital and present the market with a catalyst for innovation in this industry.”