Hafnia is collaborating with DNV, IMC Ventures, Microsoft and Wilhelmsen to launch a new digital venture studio, ‘Studio 30 50’. A crucial target for the maritime industry today is to reduce emissions significantly by 2030 while aspiring to be Net Zero by 2050. Studio 30 50 will identify innovative solutions by startups that solve both near-term and long-term goals of building a sustainable and agile maritime industry of the future.
The studio’s objective is to address a broad range of ESG topics concerning the maritime industry, and fund innovative proposals that improve efficiencies across the whole maritime supply chain.
Shanker Pillai, Head of Innovation and Change at Hafnia, will lead efforts on Studio 30 50 and reiterated the urgent need for a collective approach to address change, not only at an organizational level but from anyone with an interest in driving the sustainable future of the maritime industry.
Building a sustainable maritime industry of the future is a vision shared by all partners, and the studio aims to attract a new type of talent to the maritime sector in the form of individual founders and early-stage start-ups who have an ambition to solve complex challenges around emissions reduction, building a circular economy, solving social issues and the broader supply chain inefficiencies facing the maritime industry.
Ng Yi Han, Director, Innovation, Technology & Talent Development, MPA shares “Studio 3050 will enrich Singapore’s maritime innovation community through their connectivity to corporates networks to attract more talents, bring in new ideas, raise funding and scale-up support for new founders and start-ups. We encourage more Venture Capitalists and maritime corporates to tap into the large base of demand drivers and solutions providers in Singapore, as well as a rich research ecosystem that is supported by a highly educated workforce, strong protection for intellectual property, and quality R&D infrastructure.”
Unlike traditional venture studios, Studio 30 50 ’s strength is derived from its partnership and collaboration model. It has been incorporated by partners who believe in the power of innovation and entrepreneurship and are committed to provide the space to test, validate and scale eligible concepts within their own organisations and their wider ecosystems.
Through this venture, Hafnia and its Studio 30 50 partners will help new founders in their journey of raising sufficient capital, bridging the product-market fit, providing a successful point of entry and in building scalable, sustainable business models that offer unique added value in a competitive and strict regulatory landscape.
Applications to Studio 30 50 are set to open in April 2023. Shortlisted founders and start-ups will receive an invitation to join the first cohort in June where they will be exposed to the issues facing the industry and prompted to ideate disruptive solutions for new companies. Applicants will be given support in the form of product management, technical know-how, data support and venture capitalists’ validation.
Microsoft is the principal innovation partner for Studio 30 50 and will support all funded startups -through Microsoft for Startups Founders Hub.
“Our first-in-Singapore collaboration with leaders in the global maritime space will infuse innovation in data & AI, sustainability and security into all parts of their industry,” said Richard Koh, Singapore Chief Technology Officer, Microsoft. “We are confident that this ecosystem collaboration will empower Singapore to transform the global maritime industry at scale with homegrown innovation on the Microsoft Cloud, while addressing challenges in sustainable energy use, resourcing and process optimization.”
Microsoft for Startups platform provides startups free access to technology across the Microsoft Cloud including tools, and resources they need to build and run their business. This includes the trusted, secure, open-source friendly and compliant cloud platform, to robust developer and productivity tools including GitHub Enterprise, Visual Studio Enterprise, and Microsoft 365.
Beyond access to technology, Microsoft for Startups Founders Hub will empower entrepreneurs to innovate and grow by connecting them with mentors who will provide them with industry, business, and technical guidance to help navigation to their next business milestones. In addition, startups looking to catalyse entrepreneurship, learning and innovation, will have access to Microsoft Learn and a variety of startup and unicorn programs to help them build connections with customers and accelerate their growth.
Dr Sharin Osman, DNV Regional Maritime Advisory shared, “Closer collaboration between corporates and start-ups is key for scaling innovations, which will be key for successful transformation and decarbonization of our industry. DNV is proud to support Studio3050 targeting this together with other likeminded industry players, and especially so here in Singapore who has a consistent strategy focusing on innovation, startups and digital investments”.
Axel Tan, Venture Partner, IMC Ventures shared, “The maritime industry is picking up the pace in digitalisation, but to achieve wide-scale impact and sustainability outcomes, an ecosystem approach that aligns interests such as Studio 30 50 is needed. IMC aims to create a positive impact through its investments, and we are thrilled to work with like-minded partners to drive innovation and entrepreneurship.”
Nakul Malhotra, Vice President, Emerging Opportunities Portfolio, Wilhelmsen shared, “A consortium-based venture studio to enhance corporate backed venture building for the maritime industry is something that aligns seamlessly with our in-built philosophy of collaboration. We are looking forward to being an integral part of this new ecosystem, combining talent with deep domain expertise to uncover novel approaches that help drive our industry forward”.
Interested participants can consult the Studio 30 50 website, where they can submit their application.