DP World has launched Log-X, a new Indian-based technology accelerator platform dedicated to the logistics business. The accelerator platform was launched in partnership with Invest India, Kerala Start-Up Mission and its accelerator partner Startup Réseau, to encourage innovation and technology adoption in the Indian logistics sector.
The program will focus on digital technologies like block chain, artificial intelligence, robotics, simulators and internet of things, to identify logistics-focused technology start-ups in India.
“Technology adoption and innovation will play a strong role in building an integrated logistics platform which offer end-to-end solutions for cargo owners,” commented Rizwan Soomar, chief executive and managing director at DP World Subcontinent. “DP World wants to encourage the creation of a start-up eco-system for logistics and supply-chain focused innovators with an aim to reduce the costs of logistics in India and make India’s exports more competitive.”
Log-X plans initially to take onboard up to ten start-ups, selected through the Startup India portal, for conducting pilots, with a long-term objective of forging partnerships, strategic engagements and proof-of-concept development. The start-ups will be mentored by the DP World leadership team as well as external mentors brought into the program.
The initiative continues DP World’s strong push into the Indian transportation and logistics sector. In January, the terminal operator announced the creation of an investment platform, in partnership with the Indian sovereign wealth fund National Investment and Infrastructure Fund (NIIF), to invest up to US $3 billion in ports, terminals, transportation and logistics businesses in India.