Technology giant Microsoft has made a significant collaboration with several shipping leaders by launching a new maritime digital venture studio.
Studio 30 50, is a Hafnia-led tech initiative tasked with finding fresh solutions to a wide range of environmental, social, and governance (ESG) issues concerning the maritime industry, as well as to support creative startup ideas that aim to increase productivity throughout the shipping supply chain. Through this venture, Hafnia and its Studio 30 50 partners will help new founders in their journey of raising sufficient capital.
The other partners in the studio are Wilhelmsen, IMC Ventures and DNV, a group of leaders that covers almost the entire shipping industry. Shanker Pillai, Head of Innovation and Change at Hafnia, will be leading the efforts on Studio 30 50.
The studio aims to attract “a new type of talent to the maritime sector in the form of individual founders and early-stage start-ups who have an ambition to solve complex challenges around emissions reduction, building a circular economy, solving social issues and the broader supply chain inefficiencies facing the maritime industry,” as it is mentioned by Hafnia.
Axel Tan, Venture Partner, IMC Ventures shared, “The maritime industry is picking up the pace in digitalization, but to achieve wide-scale impact and sustainability outcomes, an ecosystem approach that aligns interests such as Studio 30 50 is needed. IMC aims to create a positive impact through its investments, and we are thrilled to work with like-minded partners to drive innovation and entrepreneurship.”
Applications to Studio 30 50 are set to open in April 2023. Shortlisted founders and start-ups will receive an invitation to join the first cohort in June where they will be exposed to the issues facing the industry and prompted to ideate disruptive solutions for new companies. Applicants will be given support in the form of product management, technical know-how, data support and venture capitalists’ validation, as Hafnia notes in its announcement.
Microsoft joins Studio 30 50 as the principal innovation partner in the collaboration and will support all funded startups that will be incubated via its Microsoft for Startups Founders Hub program.