Start Singapore : Platform to help cut logistics costs

Platform to help cut logistics costs

Firms in a range of sectors, including semiconductors, energy and automotive, could shave 30 per cent off their logistics costs by using a high-tech platform called Cargobase.

Founder Wiebe Helder said the savings come from ad hoc freight, which refers to shipments that are unscheduled or have no pre-agreed rates. Ad hoc freight usually accounts for only a small percentage of total logistics volume in companies, but can make up for a larger percentage of actual freight costs, he added.

Mr Helder said the challenge for logistics executives is that they use e-mail, fax or phone to check pricing for ad hoc freight. Cargobase provides a solution that optimises ad hoc freight management for different modes of transport.

Mr Helder said: "We can handle all shapes and sizes of freight. We can ship in various modes from charter flights to road transport."

Cargobase allows the shipment to be tracked, so that companies know at all times the status of their freight. Mr Helder has raised about US$1.2 million to fund the development of Cargobase's technology.

CoAssets expands into Australia

Singapore start-up CoAssets, which has crowdfunded real-estate projects in Asia, is extending its platform to help Australian businesses raise funds.

The start-up has been assisting in financing Australian real estate projects since last year. Its expansion will be into other sectors.

The start of its Australian operations is part of a growth plan to solidify its regional expansion into five key markets - Singapore, China, Indonesia, Australia and Malaysia, it said.

CoAssets was listed on the National Stock Exchange of Australia last year.

The start-up has appointed Mr Lawrence Lim as chief operating officer. He was the former chief artillery officer of the Singapore Armed Forces. He has been tasked to drive CoAssets' day-to-day operations, while chief executive Getty Goh focuses on operational strategy.

Boot camp for 10 start-ups

Ten insurance, accounting, data analytics and other financial technology (fintech) start-ups will begin a three-month boot camp next month to refine their business ideas.

The firms, which come from South Korea, India, Thailand, Taiwan and Singapore, will receive extensive mentorship from more than 400 entrepreneurs, investors and corporate partners. They will also attend a series of masterclasses on topics ranging from software development strategies to leadership and investments at the event, which is being organised by Startupbootcamp.

The start-ups, which will have to be based here for the duration of the event, will also receive $25,000 and four months free office space at Singapore's start-up hub, Bash.

DBS-NUS social enterprise challenge

If you have an idea to help people in developing countries access medical aid and educational facilities, you may want to join the DBS-NUS Social Venture Challenge Asia 2016.

The challenge, which is in its third year, aims to identify and support new social ventures that demonstrate sustainability and the potential to make a significant social impact across the region.

From now to May, participants will learn more about starting a social enterprise through regional workshops and online resources. These workshops and resources are supported by partners in Singapore, Taiwan, Hong Kong, China, Indonesia, Cambodia and Myanmar.

Participants can go to for information and register their ideas before May 15.

After that, there will be two rounds of online judging to select the semi-finalists, who will be flown to Singapore to receive coaching and mentoring before undergoing two rounds of judging in August. Winners can win prizes totalling more than $170,000 to be used as seed funding for their social ventures.

Grace Chng

A version of this article appeared in the print edition of The Straits Times on March 17, 2016, with the headline 'StartSingapore'. Print Edition | Subscribe