Studio 30 50, a Singapore-based MaritimeTech venture studio, has launched applications for its next cohort of startups and founders eyeing commercial scale in the maritime industry in 2024.
Studio 30 50 said in a statement on Tuesday that innovators across three startup stages are invited to apply for Studio 30 50’s next cohort:
1. Solo entrepreneurs looking for co-founders to build MaritimeTech startups
2. Tech startups looking for product-market fit in maritime
3. Tech startups with a strong product-market fit pursuing scale and growth
“The incoming tide of Studio 30 50’s next cohort is set to deliver a surge of opportunity for the right entrepreneurs,
“It’s a startup’s chance to break through maritime’s barriers of entry—access to data-rich environments for honing artificial intelligence (AI), internet of things (IoT), or other tech applications, and rubbing shoulders with some of the prominent maritime experts who’ve seen and mentored dozens of startups,
“Studio 30 50 startups and founders exit our program not just with refined solutions or funding but also with the industry’s stamp of credibility, teed up for rapid scaling in a market that’s as vast as the oceans themselves,” he added.
According to the statement, startups joining Studio 30 50’s next cohort are set to gain a significant advantage through intimate exposure to leading maritime corporates and investors to support venture development from initial idea to commercial viability and scale.
The venture studio offers startups hands-on mentorship and the invaluable chance to validate their technologies in real-industry settings, allowing for immediate feedback and swift iteration.
Building on the impactful collaborations from the inaugural cohort with Hafnia, Microsoft, Wilhelmsen, IMC Ventures, DNV & Maritime Port Authority of Singapore, Studio 30 50 will once again bring together industry leaders in more numbers and various geographies to co-innovate with entrepreneurs.
According to Studio 30 50, breaking into maritime is challenging for tech startups as it demands robust, tried-and-tested technologies and strong connections with established players to navigate the industry’s supply chain.
However, it said innovators who successfully navigate these hurdles can harness the industry’s momentum for modernization, creating a promising opportunity amid the evolving tech landscape.
It is noted that in the inaugural call for entrepreneurs to apply for the program, Studio 30 50 drew interest from more than 200 aspiring founders and 60 startups, leading to the selection of ten solo founders and five startups after a stringent evaluation.
One new venture, co-founded by two of the solo entrepreneurs, advanced to the finals of the Pier71 Smart Port Challenge, just two months after its initial concept was validated by Studio 30 50.
Solutions by startups from Studio 30 50’s first cohort include:
● Vanguard Tech – Risk management in the maritime domain.
● Spotship – Provide chartering solutions allowing brokers to increase profitability whilst reducing admin burden in maritime.
● Ensemble Analytics – Using statistics and AI to optimise operative scheduling, training and hiring processes in the maritime industry.
● RAB Microfluidics – On-vessel fluid analysis for lubricants and chemicals
● Topolytics – Making maritime’s waste visible, verifiable and valuable by using mapping and machine learning to overcome inaccuracies and data vacuums.
Studio 30 50 is a venture studio scaling MaritimeTech opportunities through unmatched entrepreneurial talent.
The venture studio accelerates startups to build and launch
ideas, or unlock faster product growth and revenues; and incubates founders to explore and validate solutions for the potential launch of MaritimeTech ventures.
Launched in 2023 by Hafnia in collaboration with DNV, IMC Ventures, Microsoft and Wilhelmsen, the venture studio identifies innovative solutions by startups that solve both near-term and long-term goals of building a sustainable and agile maritime industry of the future.