The second cycle of the Trade & Transport Impact Program is launching their search for 10 mature startups to work together with Inmarsat, Cargotec, Shell, HHLA and Wärtsilä on solving some of the biggest problems in the maritime, trade and transport industry.
First of its kind, the Trade & Transport Impact Program is disrupting the maritime logistics industry together with its partners. It is designed to address real challenges within maritime trade and transportation by matching industry leaders with tech startups and scaleups in a collaborative outcome-oriented program.
The first cycle of the program, which ran in the spring of 2019, resulted in 11 pilot-projects between the 8 selected startups and the partner corporations. Now, the Trade & Transport Impact program is back and looking for 10 startups to join the second cycle.
In this second cycle of the program, Rainmaking expects more than 500 startups with relevant technology and business models to be identified. Upon the application deadline on September 8th 2019, startups will be screened and the 10 teams will be invited for Selection Days in Hamburg and ultimately matched with the partners. Throughout the program, the corporate-startup engagement will be facilitated by Rainmaking in a 6-week long semi-remote program focused on building collaborative pilot-projects.
Moving a crucial industry into the 21st century
The shipping and supply chain industry has a need to digitize, however manual processes can be difficult to change on a large scale. Lack of automation, inefficiencies in terminal operations and insecure data leveraging are some of the issues that need to be handled, along with issues surrounding illegal access into ports and vessels.
Startups can help bring the future into the present for the partner companies, and enable transparency, enhance data leveraging and apply preventive measures to safeguard the port, the ship, and the crew. These issues are costing the industry millions, if not billions, of dollars, and ultimately taking a toll on the environment. The Trade & Transport Impact Program will match the best tech startups with global leaders in maritime and logistics for mutual results.
Applications are accepted until September 8th 2019 at www.tradewithimpact.com.
Wärtsilä: “We are excited to be part of this unique program. Within the Trade & Transport Impact Program by Rainmaking, so many complementary partners across the Maritime value chain and startups are teaming up. This provides an outstanding playground to access test and pilot opportunities. Our goal is to explore new business models for digital solutions for the maritime industry – and above all, scale fast together with the startups,” says Joonas Makkonen, Vice President Voyage Solutions at Wärtsilä.
Cargotec: “Maritime logistics is full of inefficiencies, and that needs to change. We at Cargotec were able to find and kick forward couple of amazing joint opportunities with startups within the first cycle of Trade & Transport Impact Program, and I'm excited to continue this journey with a world-class organization like Rainmaking alongside some of the most innovative corporate partners within this global industry,” says Tero Hottinen, Director of Emerging Businesses in Cargotec.
Inmarsat: “We know that Inmarsat can’t do this alone and we also know that the maritime industry is in the initial stages of digitalisation with a huge opportunity for collaboration in front of us. That transformation will not be achieved by any one player in the industry. It’s going to take large corporates, who own a significant part of the value chain, to get together with other corporates and work with smaller businesses as catalysts to making this happen,” says Alison Grey, Senior Director of Digital Incubation at Inmarsat
Shell: “At Shell we’re very keen on becoming the safest, cleanest and most efficient shipping company on the planet. We see lots and lots of opportunities to be disruptive, and we believe that by participating in a program like the Trade & Transport Impact program, we can connect effectively with startups and tap into their ability to be very innovative, and to help us achieve our goals in a fast, agile way,” says Richard Holdsworth, Maritime Ventures Lead at Shell
Rainmaking: “The program is set up to really move the needle on specific industry challenges leveraging innovation and digitalization,” says Nicklas Viby Fursund, Partner at Rainmaking.
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Image caption: Wärtsilä’s Vesa Marttinen, Director Cruise and Ferry discusses the challenges in maritime industry together with partners in the first cycle of the program in May 2019 in Hamburg.
Read more about how Wärtsilä uses open innovation via the Trade & Transport Impact program to solve the challenges in shipping in our stakeholder magazine Twentyfour7.
Director of Digital Ventures
Nicklas Viby Fursund
+45 60 52 24 50
Maritime Ventures Lead
Senior Director of Digital Incubation
Brand and Communications Manager
Wärtsilä in brief
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2018, Wärtsilä's net sales totalled EUR 5.2 billion with approximately 19,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
Trade & Transport Impact Program in brief
The deadline for applying to the program is on September 8th 2019. The program will, during the scouting and application period, identify 500+ startups with relevant technology or business models to address pressing industry challenges, screen and match with partners and then facilitate qualification of a collaboration. The 6 week semi-remote program will kick-off in late October and run through November 2019.
Events will be held in Hamburg, Germany together with partners from the region and startups headhunted globally. The program will run in several cycles over 3+ years and continue to focus on true partnerships between the best and most relevant startups and P&L impact for world leading industry partners that can leverage Trade & Transport Impact to build, buy, pilot and invest in impactful startups.
Rainmaking in brief
Rainmaking is a corporate innovation and venture development firm which works with businesses and organizations of all shapes and sizes, from early-stage startups to Fortune 500 corporations, in order to solve challenges across the ever-changing landscape of innovation. The multidisciplinary team consists of some of the most experienced venture builders, strategists, engineers, designers, data scientists and growth experts around.