Israel’s major container port, Ashdod Port has signed agreements with five startup companies.
The investment of approximately US$1 million is part of the technology incubator that was established as part of the port’s innovation strategy that was recently announced.
Ashdod port chairwoman of the board of directors, Orna Hausman-Bechor commented, “The decision to invest in startups is a significant and important growth engine for Ashdod Port. The Ashdod Port’s board of directors has a clear vision, namely, to make the port competitive and ready for privatization; and the only way to do so, is through massive investment in the various technologies and startups that are already active in fields related to the port.”
Ashdod Ports noted that the future revenues predicted from the royalty agreement are approximately US$290,000 for the next two years.
Hausman-Bechor added, “The present agreement is expected to reap a profit of NIS millions in the years 2023 and 2024, due to the royalty agreements that we have signed. Moreover, it will enhance the Port’s activity in the fields of cyber, logistics, security and environmental protection.”
Moreover, the startups were selected from a list of 10 companies and include ‘Greazly’, with its grease monitoring system to prevent malfunctions and the closure of cranes, ‘Captain’s Eye’ a startup that uses the port’s cameras to identify and alert, in real time, regarding safety incidents, including contamination, ‘ACiiST’, which provides an effective communications network capable of surviving during physical or cyber-attacks. Additionally, Salvador, a cyber company that enables a quick 30-second recovery period from cyber attacks and malfunctions and last but not least, ‘Enigmatos’, which provides protection against cyber attacks on car fleets.
The port has also signed agreements with other ports in the world, such as the New Jersey Port and the Barcelona Port for the distribution and acquisition of Israeli technologies.
This investment joins the US$1.3 million investment made by the port last September in five startups that operate at the port as part of the technological incubator run by the chief innovation officer, Roi Avrahami. The startups are SpinFrame, Enwize, Cyber 2.0, and GCC Team.
