In this report, we discuss the potential transformation of the shipping industry through the lens of global startups. We have chosen this methodology because startups are founded to meet a need, a need for which no solution yet exists. Or perhaps one does, maybe in another industry, but it is not sufficiently accessible to those who require it in the current setting. Or it is too costly or too difficult.
Startups identify repeatable and scalable business models. They experiment with new technologies, test and iterate potential solutions that may allow them to orchestrate value creation at a much lower cost than established players. One could view startups as a testing ground for viable new business models that can be adopted and scaled up. In any case, we can learn from both their successes and their failures. Moreover, by partnering with them one can extend their innovation capabilities and have a truly great partner in the transformation journey.
By following their traction, whether it is in terms of funding or number of customers, we can begin to understand which technologies and business models prove successful in solving which problems. Many of the problems solved in one industry or in one ship segment may be replicated in others.
A great number of startups are already operating in the maritime space, targeting different parts of the value chain. We have looked at the funding stages and the amount of funding received to understand the markets’ current assessment of their potential. These findings may tell us what we can expect to happen in the near future.
We have analysed 160 startups based on data gathered by October 2018. As startups move fast, we expect that some information might have changed by the time you are reading the report.