2023.06.08
Nick Bastone
Photo credit: Avi Roccah
The maritime industry has historically played a crucial role in global trade, connecting nations and facilitating the movement of goods across borders. However, despite its crucial role, the industry has traditionally been slower to adopt technological advancements, especially in comparison to other sectors. As the world becomes increasingly connected and reliant on more efficient logistics, innovation in maritime technology becomes essential.
To remain competitive, ports worldwide must continuously innovate. One such port, the Ashdod Port in Israel, has recognized this and is leveraging the power of startups to drive innovation. By actively engaging with young founders and startups, Ashdod Port is fostering a collaborative ecosystem to drive transformative advancements in maritime tech.
The Ashdod Port has taken significant steps to foster innovation that encourages collaboration between established players and startups. With the goal to disrupt traditional processes and introduce novel solutions, the Ashdod Port partnered with 500 Global, one of the world’s most active VC firms, to launch a focused accelerator program that empowers startups to run a proof of concept (PoC) at the port. This initiative aims to propel maritime technology innovation, revolutionize port operations, and create a thriving ecosystem for startups in the heart of the Mediterranean.
Ashdod Port has set itself a goal to support innovation.
Roy Avrahami
CIO of Ashdod Port
The accelerator program plays a pivotal role in driving innovation in the maritime tech sector at the port. Startups accepted into the program provide solutions in key areas such as cyber, logistics, equipment maintenance, operations, and security. By enabling startups to run PoCs at Ashdod Port, the program facilitates the development and implementation of technologies that optimize port operations while improving efficiencies, and enhancing safety.
Now in its second year, 500 Global’s accelerator program at Ashdod Port provides a crucial platform for startups to accelerate their growth, refine their ideas, and contribute to maritime tech innovations. The advancements achieved through this collaboration can ripple beyond Ashdod Port, not only inspiring other ports worldwide to embrace innovation and drive historic change in the industry, but also helping to establish Ashdod Port itself as an innovative leader.
“Ashdod Port, The Port of Israel, is proud to be a leader in the innovation industry, providing beta sites for startups and supporting new technologies in the maritime sector. With a goal of being not only the biggest, but also the smartest port in Israel, Ashdod Port has set itself a goal to support innovation.” said Roy Avrahami, CIO of Ashdod Port.In the recent months, the port has showcased examples of Israeli innovation to ports in the U.S. and Europe, which included Greazly, a grease monitoring system startup that prevents malfunctions and the closure of cranes; Salvador Technologies, a cyber company that enables a quick 30-second recovery period from cyber attacks and malfunctions; and Airwayz, which is in charge of an operating system that controls a fleet of drones.
We’re excited to see how far the startups can go.
Ee-Ling Lim
Executive Director, Market Launch, 500 Global
“Our Ashdod Port Accelerator by 500 is a truly unique initiative, thanks to our partner’s vision and belief that technology can play a central role in modernizing the maritime industry. As a result, Ashdod has managed to serve as a model for other ports. While batch 1 saw startups across a wide range of technologies, we’re seeing a concentration of AI-based software and cybersecurity solutions in batch 2, and we’re excited to see how far the startups can go through this partnership,” said Ee Ling Lim, Executive Director of Market Launch at 500 Global.
The partnership between 500 Global and Ashdod Port is a groundbreaking collaboration.
Tal Chen
Partner at Deloitte Israel, and Co-Leader of Deloitte Catalyst
A key partner driving this collaborative venture between Ashdod Port and 500 Global is Deloitte Israel. In a recent conversation with 500 Global, Tal Chen, a Partner at Deloitte Israel, and Co-Leader of Deloitte Catalyst said, “The partnership between 500 Global and Ashdod Port is a groundbreaking collaboration to strengthen the port as a key player in the Israeli innovation ecosystem.” Chen went on to say, “The goal of the Ashdod Port Accelerator by 500 is to create a new generation of startups that are able to address the port’s pain points and also be attractive enough to be implemented in other ports around the world.”
2. AS OF 30 JUNE 2023 AND INCLUDES PRIVATE, PUBLIC AND EXITED COMPANIES. FOR EXITED POSITIONS, VALUATION DATE IS DATE OF EXIT. THESE FIGURES ARE ESTIMATES, AGGREGATED ACROSS ALL PORTFOLIO COMPANIES HELD ACROSS ALL FUNDS ADVISED BY 500 STARTUPS MANAGEMENT COMPANY, LLC AND ITS AFFILIATES, AND ARE BASED ON INTERNAL DATA THAT HAS NOT BEEN EXTERNALLY VERIFIED AND RELIES ON PORTFOLIO INFORMATION SUPPLIED BY EXTERNAL SOURCES WHICH HAS NOT BEEN VERIFIED, MAY NOT BE ACCURATE OR UPDATED. THESE VALUATIONS ARE ESTIMATED IN ACCORDANCE WITH 500 GLOBAL’S VALUATION POLICY. SEE 500.CO/COMPANIES FOR A FULL LIST OF PORTFOLIO COMPANIES. PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RETURNS. PORTFOLIO COMPANIES DISPLAYED ON THIS PAGE ARE NOT NECESSARILY REPRESENTATIVE OF ALL INVESTMENTS IN VEHICLES MANAGED BY 500 STARTUPS MANAGEMENT COMPANY, L.L.C. (TOGETHER WITH ITS AFFILIATES, “500 GLOBAL”) AND THERE CAN BE NO ASSURANCE THAT THE INVESTMENTS WILL BE PROFITABLE OR THAT OTHER INVESTMENTS MADE IN THE FUTURE WILL HAVE SIMILAR CHARACTERISTICS OR RESULTS. THIS LIST INCLUDES CURRENT AND FORMER 500 GLOBAL PORTFOLIO COMPANIES WHICH HAVE BEEN ACQUIRED AS WELL AS COMPANIES WHICH HAVE UNDERGONE AN INITIAL PUBLIC OFFERING. THIS LIST IS UPDATED PERIODICALLY AND AS SUCH MAY NOT REFLECT RECENT 500 GLOBAL INVESTMENTS. PAST RESULTS OF 500 GLOBAL INVESTMENTS, POOLED INVESTMENT VEHICLES, OR INVESTMENT STRATEGIES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. NO CONTENT ON THIS PAGE SHOULD BE CONSIDERED AS AN OFFER TO SELL OR SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES, CONSTRUCTED AS FUND MARKETING MATERIALS BY PROSPECTIVE INVESTORS CONSIDERING AN INVESTMENT INTO ANY 500 GLOBAL FUND, OR USED AS THE BASIS FOR ANY INVESTMENT DECISIONS. ALL LOGOS, NAMES, AND TRADEMARKS OF THIRD PARTIES REFERENCED HEREIN ARE THE TRADEMARKS AND LOGOS OF THEIR RESPECTIVE OWNERS. ANY INCLUSION OF SUCH TRADEMARKS OR LOGOS DOES NOT IMPLY OR CONSTITUTE ANY APPROVAL, ENDORSEMENT OR SPONSORSHIP OF 500 GLOBAL BY SUCH OWNERS.
3. AS OF 30 JUNE 2023. INCLUDES LOCATION OF EMPLOYEES, CONTRACTORS AND CONSULTANTS.