Rainmaking launches network of executives to help maritime startups

CORPORATE innovation firm Rainmaking, under its transport-focused arm, has launched a maritime innovation advisory network for South-east Asia, roping in more than 30 industry leaders.

The network, called Ocean Ventures Alliance, will aim to accelerate technology adoption in areas such as shipping, supply chains and decarbonisation.

The network aims to offer support to startups building synthetic data to train maritime-specific artificial intelligence models, automating supply chains from order to invoice, and using Internet of Things software to automatically track, reduce and monetise carbon emissions.

Executives from Maersk Drilling Singapore, Australia's Toll Global Forwarding, Saudi Aramco's Bahri and others are in the network. Vetted startups will get regular face-time with members of the network who can provide industry insights or be a strategic sounding board for entrepreneurs to bounce off new ideas.

There will also be opportunities to leverage Rainmaking's Trade and Transport Impact Programme partners, which include Cargill, Mitsubishi subsidiary MC Shipping and Shell. The programme has already scouted out 3,500 potential startups which could be eligible for support from the alliance.

Shaun Hon, director at Rainmaking, said: "Ocean Ventures Alliance comes at a timely juncture in South-east Asia's maritime history. Covid-19 has shown that innovation is critical across global supply chains and establishing a global alliance with the right legacy and entrepreneurial minds will not only spark fresh ideas, but catalyse change through strategic implementation."

Rainmaking is a partner of Enterprise Singapore's SEEDS Capital's S$50 million co-investment scheme for maritime startups.