~A start-up contest organized by the Ministry of Shipping, Invest India and DP World~
Mumbai, India, April 5th, 2016: Ministry of Shipping today announced Sagar Defence Engineering Pvt. Ltd. as the winner of the maiden ‘MIS 2016 – DP World Prize’ contest which was organized in association with Invest India and Global trade enabler DP World. The winner will be awarded a prize money of INR 15,00,000 by DP World to support their project at the Maritime India Summit 2016.
‘MIS 2016 - DP World Prize’ contest received an overwhelming response from participants across the country of which final five entries were shortlisted. These five shortlisted start-ups were invited to make a presentation to an eminent panel of judges chaired by Mr. Deepak Parekh.
Sagar Defence Engineering Pvt. Ltd., was founded by Capt. Nikunj Parashar and his team in May 2015. They have launched the first unmanned marine surface vehicle for Indian Navy. Their product has been successfully inducted in the Indian armed forces. This developed technology has the potential for extreme applications to study radiation levels in Nuclear power plants and in thermal power to test out submerged structures to list a few.
Mr. Barun Mitra, Joint Secretary, Ministry of Shipping, Government of India said, “We believe that there is immense potential in the Maritime Sector. Innovative initiatives like the ‘MIS 2016 – DP World Prize’ contest will assist in realising our vision to create unique platforms for investors to explore potential business opportunities in this sector.”
Mr. Deepak Parekh, Chairman, HDFC said, “The ‘MIS 2016 - DP World Prize’ contest is an aggregator platform to motivate young entrepreneurial talent present in our country. All the five shortlisted participants showcased excellent entrepreneurial skills through the fresh innovative concepts and ideas submitted by them. It was indeed a challenge for us to select Sagar Defence Engineering Pvt. Ltd. as the winner for this maiden contest.”
Commenting on the start-up accelerator programme, Mr. Deepak Bagla, Invest India, said “India offers a unique advantage in the Maritime Sector, given our long coastline. There are tremendous opportunities for start-ups and large corporations alike. This unique contest allowed budding entrepreneurs to showcase their ideas and aimed to provide them with immediate funding support.”
Mr. Anil Singh, Managing Director & Senior Vice President, DP World Subcontinent, said, “As an organization DP World is committed to the growth and development of the maritime industry in India. The ‘MIS 2016 – DP World Prize’ contest aims to reward entrepreneurs who have game-changing ideas that could provide an impetus to the industry. We congratulate Sagar Defence Engineering Pvt. Ltd. on developing a path-breaking concept and hope the prize will help them to make their idea a success.”
Capt. Nikunj Parashar, Co-Founder, Sagar Defence Technology said, “We are extremely delighted and proud to win the maiden ‘MIS 2016 – DP World Prize’ contest. This platform has now further strengthened our belief that in time to come Unmanned marine vehicle will not only save time, money and increase productivity, but also save human lives out at sea and on battlefronts! We will be utilizing this prize money to build our first Unmanned Surface Vehicle for Oil & Gas sector which is scheduled to be launched in October.”
About the finalists
- Planys: A Chennai based, IIT Madras Incubated Company manufactures indigenous ROVs & provides underwater inspection services using them. Integrate marine robotics, advanced Non-Destructive Testing & post-inspection analysis tools.
- Zarrots: The Bhubaneshwar company developing IOT devices to gather and stores fuel consumption data of marine vessels in cloud data storage system. The analytics software run on data stored in cloud servers to find spikes, drops, unusual usage patterns to find marine fuel leakages, spillage, inefficient usage or theft. Stakeholders can access the data online and are informed via email or SMS regarding important incidents.
- Sagar Defence Engineering: The Mumbai-based Company is a highly skilled start-up, founded with an aim to provide new innovations and complete Unmanned Marine Vehicles solutions in Commercial, Defence, & Scientific sector. The organization strives to meet the never ending needs of technological competency in Maritime sector. Sagar Defence Engineering has become a pioneer by launching the first unmanned marine surface vehicle for Indian armed force.
- Volteo: The Hyderabad based company, created a Smartport Platform offering a Saas model (pricing per feature) which allows ports to amortize the cost over a period of time instead of investing one time unlike other expensive enterprise software
- VMW: The Bengaluru based concept is promoted by a team of technocrats with background in mechanical engineering and material handling systems, Project Management and Marketing. They focus on specialised material handling solutions in container handling in ports and terminals.
About DP World:
DP World is a leading enabler of global trade and an integral part of the supply chain. We operate multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.
We have a portfolio of 70 terminals in 31 countries across six continents with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade, ensuring everything we do has a long-lasting positive impact on economies and society. Our dedicated team of over 36,000 employees cultivates long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, to add value and provide quality services today and tomorrow.
Container handling is the company’s core business and generates more than three quarters of its revenue. In 2015, DP World handled 61.7 million TEU (twenty-foot equivalent units) across its portfolio. With its committed pipeline of developments and expansions, capacity is expected to rise to more than 100 million TEU by 2020, in line with market demand. By thinking ahead, foreseeing change and innovating we aim to create the most productive, efficient and safe trade solutions globally.