Summary: Maritime start-up looking for around $350k to expand their logistics application, linking tug boats to transportation jobs.
Project type - Venture Capital/Start-Up
Funding Needed : $350k
Use of Capital: Application and software development as well as sales force build-out.
Equity stake: Negotiable
The market opportunity...
Indonesia is an island nation making inter-island trade heavily dependent on the use of boats for logistics. The coastline just on the major islands is around 81,000km, which puts Indonesia second after Canada as the country with the longest coastline. This creates a somewhat disorganised logistics network which the company seeks to resolve.
Global market research specialists, Frost and Sullivan, recently reported a 15.4% growth rate p.a in the logistics industry within Indonesia between 2015 and 2020, with the market estimated to reach Rp4,396 trillion by the end of this year. This makes logistics one of the fastest growing segments of the Indonesian economy. The increase has been driven by increasing domestic trade of manufactured products between islands, as well as growing international trade, especially in the Asean Economic Community (AEC). The rise of infrastructure development has also increased activity and the need for a more connected tug boat transportation network managed through an app. Based on national data, the potential for freight for tug boat (TB), barge (BG), and landing craft tank (LCT) reached at least 67 trillion IDR per year with expenses for brokers at +/-2.8 trillion IDR per year.
The company's solution..
Nowadays, the process of chartering commercial boats is usually through brokers, meaning entrepreneurs (shipper/cargo owner/ship owner/operator) must include a fairly high brokerage fee. This happens because of the complex conditions of the tramper shipping, making it difficult to get precise information about the commercial boats available, and also the information of the ship owner. Not to mention the problems that can be caused by irresponsible brokers or fraudsters impersonating brokers. Many entrepreneurs also look for commercial boats directly to ship owners/operators, but this requires many man hours of meetings and other additional expenses. Ultimately this app will save both time and money for entrepreneurs as well as ship owners.
Our company is in the process of developing the first and best on-demand digital service, focusing on sea logistics small vessel chartering in Indonesia. This web based application connects cargo owners directly to the ship owners. Their vision is to become an Indonesian development agent that encourages increased goods distribution and increases sea transportation traffic, in business centers and also in commodity-producing regions.
Audited financial statements and contact with the company’s founders can be quickly arrange.
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