DP WORLD LAUNCHES LOG X – TECHNOLOGY ACCELERATOR PLATFORM FOR LOGISTICS
Mumbai, 11 October 2019: Global trade enabler DP World today launched Log-X, a national technology accelerator platform for logistics, 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 accelerator program is specially curated for entrepreneurs in the logistics and other associated sectors. The goal is to catalyze Indian entrepreneurs and the start-up community to develop smart trade solutions by leveraging massive opportunities offered by digital technology.
Log-X was launched by Rizwan Soomar, CEO and Managing Director, DP World Subcontinent; in the presence of Mike Bhaskaran, Global Chief Digital Officer of DP World.
The Log-X technology accelerator platform will focus on digital technologies like blockchain, artificial intelligence, robotics, simulators and Internet of things (IOT systems). The platform will seek to identify logistics-focused technology start-ups through Startup India portal and will look to onboard up to 10 selected start-ups for conducting pilots, with a long-term objective of partnerships, strategic engagements and proof-of-concept development. The finalized start-ups will be mentored by DP World leadership team and external mentors onboarded to the program.
Rizwan Soomar, CEO and MD, DP World Subcontinent, said: “Technology adoption and innovation will play a strong role in building an integrated logistics platform which offer end-to-end solutions for cargo owners. 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. The LogX accelerator program is a unique partnership between DP World, Invest India and the Start-Up Kerala Mission to encourage innovation across the value chain in the logistics sector in India. Stronger technology adoption in the logistics sector will also improve transparency, reliability and predictability in the supply chains across the country. This will be transformative for India.”
Deepak Bagla, MD & CEO, Invest India, said: “This is a unique partnership and the first in the logistics sector. We are very pleased to be partnering with DP World on this unique initiative to drive innovation in the sector. We look forward to working with the final start-ups who are chosen by the Log-X accelerator platform.”
Invest India is the national investment promotion and facilitation agency for India, envisaged to be the first point of reference for potential investors. Invest India also has a series of initiatives including the India Investment Grid which showcases up-to-date information on investible projects, Startup India, an initiative to catalyse and support the startup ecosystem, AGNii, for linking Indian science and innovation to enterprise, and the Project Monitoring Group to accelerate large-scale projects.