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Maritime R&D fund to raise co-funding to up to 70% after S$15m MPA top-up

05 Mar, 2021

THE Maritime and Port Authority (MPA) will top up S$15 million to a fund that supports maritime research and development (R&D) and product development, as Singapore aims to be the Silicon Valley for maritime technology, said Senior Minister of State for Transport Chee Hong Tat on Friday.

Further, the government aims to more than triple the number of maritime tech startups supported under the innovation platform PIER71 (Port Innovation Ecosystem Reimagined @ BLOCK 71) funding programme from 30 to 100 by 2025.

Read full article from The Business Times here.