Two leading maritime start-up developers, Berlin-based Flagship Founders and Singapore-based Studio 30 50, are set to merge under the Flagship Founders brand.
The combination comes as the industry faces the impact of artificial intelligence and satellite connectivity, according to Flagship Founders managing director Fabian Feldhaus.
Flagship Founders is backed by German shipowners F Laeisz, Auerbach Schifffhart and Philipp Ahrenkiel.
It has developed a stable of digital start-ups including Sealenic, Arinto, Kaiko Systems, Tilla Technologies and zero44.
Studio 30 50 was launched last year through investment from Danish shipowner Hafnia, with DNV, IMC Ventures, Microsoft and Wilhelmsen listed as collaborators.
It lists Orbital WAVE, ESG-NRG, Nautisense and Ataris as alumni.
While both describe themselves as venture studios, bringing in early-stage start-up founders to build their ideas before market exposure, they have taken two different approaches.
Studio 30 50 director Shanker Pillai described his studio’s approach as that of a sprint, where selected founders join a growth programme and quickly develop their ideas.
“Instead of searching for founders with a specific problem-founder fit, we seek talented and adaptable founders who can either present a specific idea or approach the programme with an open mind, ready to learn and solve new problems,” he told TradeWinds.
“Our founder sprints often have a wide range of talents in any batch, such as people who have sailed for 20 years or CTOs who have built multiple tech companies.”
Flagship Founders’ approach has been more focused on individual founders and digital ideas, said co-founder Feldhaus.
“We identify problems in the industry, generate ideas around them and validate them,” he told TradeWinds. “Then, with ambitious co-founders, we start these companies ourselves.”
More need for start-ups, not less
Feldhaus said the merger of the two venture studios was not due to a lack of founders and ideas for digital solutions in the maritime sector.
“Digitalisation has been a topic for 10 years and we are still at the beginning of the journey,” he explained. “And when you think of all the new satellites, thanks to people like Elon Musk, and artificial intelligence, these technologies will enable new solutions, and big corporates will not drive them in a way that a young and agile start-up can do.”
He conceded that some digital solution arenas are beginning to get overcrowded, such as vessel performance solutions, but sees start-ups being accepted as a key part of the shipping industry, with companies more willing to work with them.
“Four or five years ago, there was the idea that it was something new, something of an outlier. Now start-ups have their place. Perhaps we should think of them as digital service providers.”
Feldhaus said the new business has not finalised the methodology for working with start-ups, but it may be a combination of the approach used by the two former outfits ahead of the merger, or something new.
Under the new business arrangement, Pillai will join the Flagship Founders management team with Feldhaus and Malte Cherdron.
While the two businesses will merge under the Flagship Founders brand, Studio 30 50 will continue to offer consultancy services under its own name to larger corporates looking to build up in-house innovation, said Pillai.
