VesselBot wins S$30k grant in enterprise tech challenge


PRESS RELEASE
November 3, 2020

Greek maritime technology company VesselBot has been awarded a start-up grant worth S$30,000 by authorities in Singapore, after being announced as the winner of the enterprise track of the Trade and Connectivity Challenge 2020 (TCC 2020).

VesselBot uses Artificial Intelligence (AI), Big Data analytics and Machine Learning (ML) to support shipping company decisions on bunker utilization, with the company having been shortlisted for the TCC 2020 competition by Singaporean container shipping company Pacific International Lines as its ‘challenge partner’.

The VesselBot system allows for real-time synchronization of data collected by the vessel with other sources, such as port information and onboard sensors. As the data is collected in real-time, the system identifies the optimal operational plan for the vessel to allow the shipping company to proactively monitor and reduce bunker consumption.

2020 received close to 140 submissions across its two tracks (industry and enterprise), up from about 50 in 2019. More than 40 of the submissions were from Europe, Asia, and North and South America, the organizers said, a five-fold increase from last year.

Three other start-ups – Conundrum, DataKrew and Hand Plus Robotics – won a commendation prize, whilst Koireader Technologies won a merit prize. All five start-ups, including VesselBot, will have the opportunity to conduct paid test trials with their relevant ‘challenge partners’ like Pacific International Lines. The test trials are expected to commence in early 2021.

About Trade and Connectivity Challenge 2020 (TCC 2020)

The Enterprise Track saw 13 challenge sponsors, 25 challenge statements and 100 submissions. The challenge saw start-ups worldwide participating, including from Singapore, Chile, Argentina, France, India, Brazil, Kazakhstan, Greece, Austria, United Kingdom, Iran, Slovenia, Oman, Canada, the Philippines and New Zealand. After over 3 months of the TCC journey, we announced the prize winners of the TCC 2020 Enterprise Track, who were awarded on 3 November 2020. We had 20 startups shortlisted to virtually pitch their innovative ideas on how they will solve challenge statements in aviation, maritime, land transport, logistics, and trade. TCC 2020 had a panel of 15 judges consisting of representatives from the challenge sponsors, Enterprise Singapore, and IPI Singapore.
To learn more, visit: https://tcc-enterprise.innovation-challenge.sg/results.html

About VesselBot

VesselBot is a technology company with deep shipping expertise, which provides with digital solutions the international maritime industry. We combine a wealth of data with advanced technologies such as Artificial Intelligence and Big Data, to develop off-the-shelf and tailor-made digital solutions that meet the industry’s needs. To learn more, visit: www.vesselbot.com


PRESS RELEASE