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Home Banking & Finance

Three startups get Amaravati MoUs

Fiinews by Fiinews
July 11, 2018
in Banking & Finance, Economy, Industry Sectors, Infrastructure, Investment, Manufacturing, Projects, Technology
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Innovative solutions for smart city

Startup Ecosystem

Three startups have signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Capital Regional Development Authority (APCRDA), offering their solutions to the development of a new city in Andhra Pradesh.

The MoUs were signed by winners of the Amaravati Pitch Competition, results of which were announced by the Singapore and Andhra Pradesh Governments at the World Cities Summit 2018 on 10 July 2018.

These are UrbanStack, ECOSOFT and SpaceAge Lab with innovative solutions supporting the development of a clean and green capital city for Andhra Pradesh.

India’s UrbanStack is an integrated data sharing platform that collects urban movement data for early intervention and policy making with the mobility patterns that emerge.

The mobility-as-a-service ecosystem is owned, governed, and operated democratically by all ecosystem participants, including public and private transit providers.

Further, UrbanStack is designed to build state-of-the art prediction models with multiple data sources in a transfer learning approach in order to mutualize knowledge acquired from these large datasets.

Conversely, these predictive models would determine where people could live and move to, if the city were to undergo any sort of unplanned disaster/disruption – natural or man-made.

ECOSOFTT is a Singapore social enterprise that delivers innovations for urban and rural communities affected by water shortage, scarcity and quality issues to become water self-reliant, sustainable and compliant.

It offers de-centralised solutions from end-to-end that are highly relevant for the developed and developing world with a very good uptake from real estate developments, hotels & resorts, hospitals, campuses, commercial malls and office complexes.

ECOSOFTT’s solutions deliver tangible benefits of reducing intake and dependence on fresh potable water by over 50%, enabling the recovery and reuse of used water (sewage) for non-potable purposes on the premise itself by over 80% and discharging the balance or surplus in an environmentally friendly.

SpaceAge Labs, also from Singapore, provides an end-to-end IoT platform, sensors, low power wireless connectivity, cloud and applications, to help meet the demands of facilities management across different performance indicators.

The platform enables quick and easy deployment of IoT solutions for smart cities, buildings, telecoms, utilities and factories. It specializes in delivering solutions based on LPWAN technologies such as Sigfox, NB-IoT & LoRa.

Some applications include – energy monitoring, street light monitoring, environmental & weather monitoring, intrusion detection, leak monitoring, process monitoring, equipment failure/status alerts, structural health monitoring and many more.

The Amaravati Pitch Competition allows startups and Small and Medium Enterprises (SMEs) the opportunity to pitch innovative solutions to create liveable and sustainable 21st century cities.

The Amaravati Pitch Competition is one of the initiatives under the Innovation Corridor which was established by the Singapore and Andhra Pradesh Governments to discover, pilot and scale innovative urban solutions in the development of Amaravati city.

Through this, the Andhra Pradesh Government will have wider access to urban solutions from Singapore and around the world, said Singapore’s Ministry of Trade and Industry (MTI).

Singapore companies will also have the opportunity to pilot and scale their solutions for use in Amravati, it added.

“Both the Governments of Singapore and Andhra Pradesh look forward to more of such innovative solutions through future collaborations,” said the Ministry.

The Innovation Corridor has helped startups and SMEs gain greater access toresources and linked them to governments and educational institutions, thereby growing the startup ecosystem, said MTI.

The inaugural round of the pitch competition was held at the Happy Cities Summit in April 2018. It attracted active participation from Singapore, India and international companies, and these solutions are in the progress of being implemented.

Metaverse Systems, a Singapore tech startup was a finalist at the competition and is currently in the process of implementing their solution.

Metaverse also facilitated the enhancement of the display of the capital city Amaravati model. Through a holographic table, viewers can have an immersive experience interacting with the previously static display of the capital city.

MTI is part of the group of public and private sectors comprising advisors and consultants from Singapore which have done masterplan for Amaravati development. fiinews.com

Tags: Andhra Pradesh Capital Regional Development Authority
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