MOL PLUS Set to Build Synergies with Startups as PIER71™’s Venture Capital Partner

TOKYO—MOL PLUS (Representative: Takuya Sakamoto) announced its plans to build synergies between MOL Group and startups through participation in Smart Port Challenge2022(Note 1) as PIER71™’s Venture Capital Partner (Note 2).

On 20 May 2022, PIER71™ (Note 3) launched Smart Port Challenge 2022, now in its sixth year, which is organized by the Maritime & Port of Authority of Singapore (MPA) and NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS). Smart Port Challenge 2022 is organized for startup enterprises to propose solutions for issues in five fields: “Smart Ports,” “Smart Ships,” “Crew Safety, Training and Wellbeing” “Smart Maritime Services and Logistics” and “Green Technology”.

MOL PLUS aims to produce a synergetic effect on startup enterprises’ innovative ideas and technologies and MOL Group resources and create new businesses that “PLUS new value to ocean shipping industry and society,” through participation in the Smart Port Challenge eco system, which brings together maritime-related startups.

(Note 1) About Smart Port Challenge

Website: https://pier71.sg/smart-port-challenge/smart-port-challenge-2022/innovation-opportunities/

(Note 2) PIER71™ venture capital partners

MOL PLUS, Motion Ventures, IMC Ventures, BSM INNOPORT, KSL Maritime Ventures, PSA Unboxed, and TNB AURA

(Note 3) About PIER71™

Founded by the Maritime and Port Authority of Singapore (MPA) and the National University of Singapore (NUS), through its entrepreneurial arm NUS Enterprise, PIER71™ (Port Innovation Ecosystem Reimagined at BLOCK71) aims to grow Singapore’s maritime innovation ecosystem. PIER71™ boosts innovation in the maritime and maritime-related industries by attracting talents, creating opportunities for the exchange of knowledge and ideas, attracting investments into start-ups and accelerating ventures.

PIER71™ designs and delivers program to uncover opportunities within the industry and supports entrepreneurs from ideation to acceleration of their ventures. PIER71™ provides access to various markets, demand drivers, technology solution providers, investors and more. PIER71™ also represents a budding and increasingly vibrant ecosystem of stakeholders who are keen to digitalize and create the next wave of maritime innovation.

For more information, please visit https://pier71.sg/

For further information, please contact:

MOL PLUS (Website: https://en.molplus.net/)

Tel: +81-03-3587-7643/Email: molplus@molgroup.com