Ports and Terminals

PSA International Launches Venture Capital Arm

PSA International Launches Venture Capital Arm
Danny Gill

Port operator PSA International have launched a new $20 million corporate venture capital arm that’s on the lookout for game changers in the logistics space. Selected start-ups will receive up to S$50,000 in seed funding initially, and be provided with incubator facilities at PSA’s Pasir Panjang Terminal Building 3 in Singapore. They will have access to a live port environment to develop and test-bed ideas for the real market at PSA Singapore Terminals.
The inception of PSA unboXed Pte Ltd (PSA unboXed) is set to be an incubator program that is expected to invest and nurture start-ups that are keen to create innovative logistics solutions fusing information and communications technology including IoT (Internet of Things), cloud, data analytics, AI (Artificial Intelligence) and optimization, as well as engineering solutions including robotics and automation in container and cargo handling operations, and transaction solutions for the maritime trade and finance ecosystems.

Mr Tan Chong Meng, Group CEO of PSA International, said, “The port is one of most important points of convergence in global supply chains. Being one of the world’s largest port operators gives PSA the unique platform to instigate and support game-changers in our industry. Through PSA unboXed, we want to encourage creative ideas that can improve and revamp LogTech (Logistics Technology), increase port productivity and enhance the integration, security and performance across the constituents of global supply chain logistics. This incubator program is in line with PSA’s continued focus on port and related logistics innovation and we hope to benefit from a broadened technology horizon.”

Mr Kelvin Wong, Assistant Managing Director, Singapore Economic Development Board, said, “The logistics industry is seeing the emergence of numerous supply chain start-ups that are introducing new, potentially disruptive solutions. I am deeply heartened by the launch of PSA unboXed, which indicates PSA International’s commitment towards engaging companies with innovative solutions. I look forward to partnering PSA unboXed to access and incorporate emerging technologies and solutions that could enhance PSA’s operations or even extend and expand PSA’s service offerings. We believe that this partnership will help strengthen Singapore’s supply chain innovation eco-system.”

Ports and Terminals
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

More in Ports and Terminals

MSC and Abu Dhabi form Joint Venture to Develop Khalifa Port

MSC and Abu Dhabi form Joint Venture to Develop Khalifa Port

Logistics ManagerMay 22, 2018
MOL Open Haiphong International Container Terminal in North Vietnam

MOL Open Haiphong International Container Terminal in North Vietnam

Logistics ManagerMay 17, 2018

Hutchison Ports Thailand’s A3 Terminal Selected to Pilot Thai Customs’ Pre-Arrival Processing System

Danny GillMay 16, 2018
Jaxport Container Volumes Show Double-digit Growth

Jaxport Container Volumes Show Double-digit Growth

Danny GillMay 9, 2018
Hutchison Ports Introduces Terminal D, the Most Advanced Deep Sea Container Terminal in Thailand

Hutchison Ports Introduces Terminal D, the Most Advanced Deep Sea Container Terminal in Thailand

Danny GillMay 8, 2018
Port of Rotterdam Authority Unveils New Pronto Application

Port of Rotterdam Authority Unveils New Pronto Application

Logistics ManagerMay 2, 2018

Hutchison Ports Thailand Receives 20 New Terminal Tractors

Danny GillApril 24, 2018
NYK Building Finished-Car Logistics Terminal in Turkey (1)

NYK Building Finished-Car Logistics Terminal in Turkey

Logistics ManagerApril 10, 2018
New Agreement Signed Between Abu Dhabi Ports and the China Council

New Agreement Signed Between Abu Dhabi Ports and the China Council

Logistics ManagerApril 10, 2018