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PSA launches S$20m incubation programme to nurture logistics tech startups

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PSA International on Monday unveiled its latest innovation initiative - a corporate venture capital arm and incubation programme known as PSA unboXed.

PSA International on Monday unveiled its latest innovation initiative - a corporate venture capital arm and incubation programme known as PSA unboXed.

With an initial fund size of S$20 million, PSA unboXed will invest in and nurture up to 20 startups in logistics technology, which has solutions for cargo automation, maritime trade transactions, data analytics and the Internet of Things.

Selected startups will receive up to S$50,000 in seed funding, be able to access incubator facilities at PSA's Pasir Panjang Terminal Building 3 in Singapore and live port environments at PSA Singapore Terminals, as well as receive mentorship from seasoned PSA port professionals and industry leaders.

The call for submissions begins on Monday. Interested applicants can visit unboxed.globalpsa.com to apply for the programme or register interest for a port tour.