MOU forms part of Ze Box’s and PSA unboXed’s commitment to equipping local startups with the tools to succeed, while nurturing a vibrant startup ecosystem in Singapore.
CMA CGM’s Ze Box and PSA unboXed have signed a Memorandum of Understanding (MoU) to drive digitalization and innovation in the shipping and supply chain ecosystem. Ze Box is CMA CGM’s corporate venture capital arm that invests in start-ups with innovations that bring strategic value to the CMA CGM Group, while PSA unboXed is PSA International’s external innovation and corporate venture capital arm.
Representing leaders in their respective areas of global shipping and global port operations, the collaboration between CMA CGM’s Ze Box and PSA unboXed builds on the proven commercial partnership between CMA CGM Group and PSA International, such as the CMA CGM-PSA Lion Terminal in Singapore.
Under the MoU, both companies will collaborate in the following areas:
- Ze Box and PSA unboXed will support the growth of each other’s ecosystem through the collaboration of resources
- Ze Box and PSA unboXed will collaborate through their corporate innovation programs to address industry problems. They will leverage on each other’s industry knowledge and experience in shipping and supply chain management to provide problem statements as well as real life solutioning capabilities, to test-bed ideas and to achieve better customer experience and operational efficiency
- Ze Box and PSA unboXed will support each other’s mentorship program through the provision of experienced mentors to catalyse the growth of start-ups in the programs
- Ze Box will set up a satellite office within PSA unboXed premises in Singapore
Rodolphe Saadé, Chairman and Chief Executive Officer from CMA CGM Group said, “We are delighted to work with PSA unboXed on this initiative. Through this collaboration, we will mentor startups and offer them access to key knowledge and expertise, so that they are well-placed to succeed. This partnership will accelerate our digital strategy to achieve better customer experience and operational efficiency.”
Tan Chong Meng, Group Chief Executive Officer from PSA International said, “We are very glad to work with CMA CGM’s Ze Box. Logistics is a team sport, and PSA and CMA CGM have different and yet complementary strengths in the global supply chain. This technological collaboration will add depth and diversity to our respective innovation efforts, as we seek to co-create meaningful and impactful solutions in the face of technological disruptions and changing customer needs.”