The Incheon Port Authority (IPA) has signed a tripartite agreement with two selected startups and the Incheon National University Startup Support Foundation to launch the "Incheon Port Ocean Navigator (I-Navigation)" program.

Aligned with the Ministry of Oceans and Fisheries' initiative to foster the digital maritime traffic information industry, the program is led by the IPA and operated by the Incheon National University Startup Support Foundation to build a robust startup ecosystem and accelerate the growth of emerging companies in the sector.

Following a competitive review process including presentation evaluations, two startups were selected out of four applicants: MarinaChain, operator of the AI-powered vessel carbon emission analytics solution "MarinaNet," and Mapsea, a digital maritime navigation developer.

The IPA will provide both finalists with global market entry consulting, up to 20 million KRW (approx. $15,000 USD) in commercialization funding per company, and shared-growth support programs including technology escrow fee subsidies.

Once fully deployed, MarinaNet is expected to optimize vessel operations—such as route planning and speed management—to minimize carbon emissions. Meanwhile, Mapsea’s AI-driven digital navigation platform will enhance maritime safety by preventing collisions and enabling swift emergency responses.

"We created this new initiative to build an innovation ecosystem in the digital maritime traffic sector and empower high-potential startups," said Shin Jae-wan, Head of the ESG Management Office at the IPA. "We will continue supporting these companies to help them grow into global leaders while advancing national policy goals to boost entrepreneurship in the maritime industry."

Source : https://www.ksg.co.kr/news/main_newsView.jsp?pNum=142079