Scaling up safety: The evolution of marine start-ups

Building blocks. Credit: Getty Images/marchmeena29/appleuzr/Yuttapong

The start-up market has matured with shipping companies turning more and more to outside expertise for technical solutions to improve operational efficiency and maritime safety

In our November 2019 edition, SAS evaluated emerging start-ups trying to breakthrough in the maritime sphere and the trials and tribulations of navigating relationships with traditional shipping companies. It has been just under a year and in such a short time, it is safe to say that the industry is beginning to embrace the notion that start-ups are a valuable way to develop safety solutions, rather than only developing them in house.

“We have been collaborating with start-ups for some time now, as no company can stay on top of all technological advancements and maintain that everything can be done by ourselves,” said Dr Tero Hottinen, director of emerging digital business at Cargotec. “There are so many innovative companies out there that can be applied into our context.”

The cargo-handling machinery manufacturer is currently collaborating with start-up company i4sea. Some established shipping companies have happily opened themselves up to outside help and in turn certain start-ups have progressed into scale-ups (where a company has validated its product in the market and proven its sustainability). The process has now evolved into one of partnership and collaboration between scale-ups and shipping companies, to adapt existing concepts and technologies to improve maritime safety.

This is an excerpt of the SAS August edition. To have access to the full article, and more SAS features, please subscribe here.