S'pore wants 150 maritime start-ups by 2025

This is up from earlier target of 100; slew of measures unveiled to help nation achieve this

- Clement Yong

Singapore is raising its 2025 target for the number of maritime startups here from 100 to 150, Senior Minister of State for Transport Chee Hong Tat said yesterday, reiterating the country’s ambition to be the Silicon Valley of marine technology.

This is a significant increase given that the previous target of 100 start-ups by 2025 was just set in March, and the number of startups now stands at 40, just slightly higher than what it was at the start of the year.

Mr Chee, speaking at the grand final of a maritime technology competition yesterday, announced a slew of financial and tactical measures that he said should help in efforts to achieve the “stretched” target. “We are not 100 per cent certain if we can achieve this. But we are willing to give it a shot.”

The Government’s focus on maritime tech stems from the belief that tech-based solutions, including artificial intelligence and autonomous vessels, will be a key driver of growth for maritime Singapore as it emerges from the pandemic.