MIAMI--(BUSINESS WIRE)--Miami-Dade Innovation Authority, Inc. (“MDIA”), a nonprofit that works to strengthen the relationship between the public sector and technology companies as a way to find solutions to key challenges faced by the local government or by residents in Miami-Dade County, launched today its third Public Innovation Challenge.
Kicking off Thursday, February 29, MDIA seeks proposals from local and global early-to-growth stage startup companies with innovative approaches to enhancing cargo visibility at PortMiami, with a focus on public data-based solutions. In collaboration with PortMiami and Miami-Dade County, MDIA will select at least three (3) early-to-growth stage technology start-ups and provide $100,000 in funding to each company to support testing of solutions at the Port so that they can be scaled to others globally. The deadline to submit proposals is April 26, 2024. To submit, please visit mdia.miami/port
"MDIA's third public innovation challenge presents a game-changing opportunity for startups to revolutionize PortMiami's cargo visibility using public data,” said Leigh-Ann Buchanan, President and CEO of MDIA. “As cargo movement surges, enhanced visibility is crucial for efficiency, sustainability, and cost reduction across the supply chain. By bridging the gap between innovators and the public sector, we aim to accelerate solutions that set a global benchmark. This not only pioneers the future of cargo management and solidifies Miami-Dade as a leading innovation hub, but it also incorporates the needs of Miami residents and small businesses to receive goods in transit more reliably."
"Bringing innovation and technology to track cargo in real-time at PortMiami is a big step forward towards our goal of being the top trading destination of the Americas,” said Miami-Dade County Mayor Daniella Levine Cava. “This challenge is an example of our continued investment in having a future-ready infrastructure to work more efficiently, stay ahead globally, create jobs locally, and serve our customers better."
PortMiami is the second-largest economic engine in Miami-Dade County, linking worldwide markets with US consumers and producers, who in turn work with global container carriers that connect Latin America, Asia, and Europe to Florida.
“Innovation in cargo visibility is reaching an inflection point with new technologies allowing for real-time tracking of trucks and containers, efficiency metric reports, and advanced data analytics,” said Hydi Webb, Director and CEO of PortMiami. “With this Public Innovation Challenge, PortMiami aims to be at the forefront of these ‘smart port’ technologies.”
Additional examples of these increased-visibility solutions include leveraging technology like cameras and computer vision in public spaces to track containers at the Port and on public roadways; utilizing public data sources such as satellite imagery, APIs, weather data, and maritime databases; employing advanced analytics, machine learning, or AI to process data; and focusing on optimizing internal port processes with external stakeholders without the need for extensive integration.
"AAPA is excited to partner with the Miami-Dade Innovation Authority on this groundbreaking initiative at PortMiami," stated Cary Davis, CEO of American Association of Port Authorities. "Technology has incredible potential to advance the port and maritime industry, and our national organization is committed to supporting innovative solutions that enhance cargo visibility and efficiency.”
In addition to the six-figure investments, selected companies will participate in a product testing program directly with PortMiami. MDIA will oversee each testing process and will work closely with the portfolio companies to publish a report on the outcomes and results, as well as activate its network of partners and resources to publicize the report and key findings.
Launched in 2023 with seed funding from Miami-Dade County, The John S. and James L. Knight Foundation, Citadel Founder and CEO Ken Griffin, MDIA was founded with equal private, public, and philanthropic funding totaling $9 million. With annual plans to launch three public challenges and distribute more than $1 million in funding, MDIA aims to create a replicable blueprint for civic innovation that can be modeled by other cities and municipalities around the world to drive improvements in the quality of life for their residents. As with all business and economic development opportunities, Miami-Dade County is committed to supporting the growth of diverse businesses and advocating for equitable participation of minority and women entrepreneurs in economic opportunities.
To learn more about The Miami-Dade Innovation Authority, Inc. please visit: https://www.mdia.miami.
About Miami-Dade Innovation Authority
MDIA bridges the gap between private innovators and the public sector to fast-track innovation that improves the quality of life for Miamians. MDIA identifies, invests, and supports early-to-growth stage companies from across the globe to pilot, test, and validate their technology and solutions to pressing public challenges. Its novel approach de-risks future investment, accelerates the discovery and commercialization of market-ready technology solutions, and helps clear the pathway to revenue-based growth for startups.
About PortMiami
PortMiami is recognized as the Cruise Capital of the World and Global Gateway of the Americas. The Port is among Miami-Dade County’s most important economic engines contributing $43 billion annually to the local economy and supporting more than 334,500 jobs. For more information, please visit www.portmiami.biz.
