Eastern Pacific Shipping (EPS) has partnered with Techstars to jointly launch a global MaritimeTech startup accelerator in Singapore.

The new EPS MaritimeTech Accelerator Powered by Techstars will be based in EPS’ headquarters in Singapore.

The accelerator will be designed to serve the maritime industry by supporting entrepreneurs who aim to develop disrupting maritime technologies associated with regulations, fuel efficiency, vessel operations, digitalisation, navigation and other subthemes.

Eastern Pacific Shipping business development manager Gil Ofer said: “The merchant maritime industry is one of the oldest in the world, yet advancements in the business come slowly, lagging behind the latest technological trends that other mature industries readily adopt.

“Eastern Pacific Shipping aims to address this long-standing issue by partnering with Techstars to launch the world’s first global MaritimeTech accelerator to cultivate and mentor the next generation of entrepreneurs in an industry that is ripe for disruption.”

“EPS MaritimeTech Accelerator Powered by Techstars intends to accept applications from startups across the world from April.”

EPS MaritimeTech Accelerator Powered by Techstars intends to accept applications from startups across the world from April.

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It will then select ten companies to take part in the inaugural class, which is scheduled to take place at EPS’ Singapore headquarters in November.

The class will be conducted for three months to focus on research and development, mentorship, as well as collaboration.

The accelerator is expected to be concluded in February next year with a demo day to allow every startup to pitch its business to an audience of venture capitalists, corporate innovation leaders and industry experts for investments.