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Inmarsat report identifies the role of Singapore start-ups in maritime digital transformation Thursday, 22 April 2021 10:32 Inmarsat report identifies the role of Singapore start-ups in maritime digital transformation
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An Inmarsat report brands Singapore as a “start-up magnet” due to its advanced maritime economy and predicts that the country’s IT market will generate US$2.4 billion in 2021 and reach US$4.8 billion by 2030.
Inmarsat, which claims to be “the world leader in global, mobile satellite communications”, sponsored a new study that highlights a comprehensive overview of Singapore’s maritime start-up sector.
The Trade 2.0 Singapore Maritime Start-up and Innovation Ecosystem Report, published through the Inmarsat Research Programme, according to Inmarsat, “is the second country-specific study of start-ups and their impact on maritime digitalisation.”
Gardens by the Bay in Singapore Singapore’s maritime IT market is forecast to generate $2.4bn this year and $4.8bn by 2030 according to a new report released by Inmarsat.
The Trade 2.0 Singapore Maritime Start-up and Innovation Ecosystem Report describes the Southeast Asian city state as a “start-up magnate”.
The report highlights a thriving accelerator community with state-backed PIER71, founded by the Maritime and Port Authority and NUS Enterprise, has matched start-ups with backers including BP, Wilhelmsen, Pacific International Lines, Ocean Network Express, Cargotec, Wärtsilä, Vopak, and Bernhard Schulte Shipmanagement. On Tuesday the Singapore government said it aimed to increase the number of start-ups under PIER71 from 30 at present to 120 by 2025.