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Singapore, 4 June 2020 – Global Emerging Supply Chain Technologies (GESCT), a Singapore-driven global initiative which drives new business models and transformations in the supply chain and logistics industry, today announced it has rebranded to Next Supply Chain (NEXST). NEXST was formed as a result of a Memorandum of Understanding (MoU) between Kuehne + Nagel, a global transport and logistics company, Reefknot Investments, a Temasek-backed Venture Capital firm, and SGInnovate, a private organisation backed by the Singapore government with a focus on driving deep tech innovation. The three companies were joined in individual capacities by Wolfgang Lehmacher, Former Director and Head of Supply Chain and Transport Industries, World Economic Forum, and Kong Wai Wei, Global Supply Chain Director, Starbucks Corporation.
NEXST holds a global ambition and strategy around identifying and helping to drive new business models and transformational technology in the logistics and supply chain industry. Since NEXST’s launch in September 2019, and especially during this Covid-19 pandemic. It has seen significant momentum as an industry platform, including the launch of a whitepaper around supply chain digital transformation post-pandemic, as well as welcoming publisher and event organiser Global Trade Review (GTR) as its latest member.
“The global logistics and supply chain space is transforming at an accelerated pace, particularly during this pandemic. While there is this need for quick and decisive change, latest industry and technology knowledge and business model innovation continues to remain fragmented,” said Marc Dragon, Managing Director of Reefknot Investments.
“NEXST’s rebrand from GESCT is reflective of its ambition as a closed-door ‘think tank’, where top minds in the logistics, supply chain, and technology industry could explore needed business models and technologies to create the Next Generation Supply Chain. Around this, it is an absolute pleasure to also welcome Global Trade Review, a key source of Global Trade information, as well as having a great ecosystem of Trade Finance partners to help to contribute to and amplify NEXST’s member insights to help take innovation to a wider public,” added Marc.
“GTR is pleased to join the NEXST consortium, and mobilise our global platform for the benefit of paradigm shifts in trade. The post-pandemic future of supply chain will see an acceleration in the adoption of digital innovation in trade, or ‘tradetech’ as we call it. With NEXST members and our ecosystem of trade finance lenders, insurers, corporate treasurers, and tradetechs, we shall contribute towards the co-creation of new products for the industry,” said Kelvin Tan, co-founder and Chief Investment Officer of GTR Ventures, GTR’s venture building arm.
“While the ongoing pandemic has resurfaced existing inefficiencies and created new challenges in the supply chain and logistics sector, it has also unlocked opportunities for entrepreneurs and the wider industry to address them through innovation. At SGInnovate, we have been working closely with leaders in the supply chain and logistics sector, and Deep Tech startups to resolve existing pain points collectively,” said Heng Soon Pang, Head of Venture Building, SGInnovate.
“Our participation in NEXST helps us to bring more value in applying technology to transform supply chain management. We will like to encourage more industry players and entrepreneurial scientists to partner with us and create positive change for the sector,” added Mr. Pang.
NEXST’s first quarterly whitepaper titled “Supply Chain Digital Transformation: Enhancement of Supply Chain Visibility For the Post-COVID-19 World” is available online through SGInnovate’s as well as Reefknot Investments’ websites. The whitepaper, a collaborative effort between NEXST, Reefknot Investments and SGInnovate, provides insights on what supply chain visibility means today, emerging issues and challenges and case studies on how cutting-edge technology, including IoT and AI could propel firms towards Supply Chain 4.0.
In the coming months, NEXST will look to publish more industry white papers to help governments, corporations and the larger industry stay ahead of the transformation, creating the supply chain ecosystem for tomorrow. It also looks to add to its growing list of industry leaders and members, to deliver on its ambition of building the first truly global industry think tank. Some of its activities include monthly closed-door expert panels, quarterly forums, and active curation of supply chain business models and technology trends.
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The Next Supply Chain (NEXST) is a think-tank initiative aimed at driving new business models and transformational technology in the Supply Chain and Logistics industry. NEXST aims to positively create value and impact for the Supply Chain and Logistics industry, to partner with and support high growth technology businesses seeking to transform the Supply Chain and Logistics industry, and to become a global centre of gravity for all technology startups in the Supply Chain and Logistics industry.
About Reefknot Investments
We invest in high growth technology companies pushing new frontiers within the supply chain and logistics space. Beyond the pure financial investment, we further leverage our ecosystem of partners to support our portfolio companies with the necessary domain or technical expertise.
Our platform provides founders access to the business insights of Temasek, the logistics & supply chain expertise of Kuehne + Nagel, and an ecosystem of high-value partners who will bring added support to help accelerate business growth. For more information, please visit: https://www.reefknotinvestments.com/
At SGInnovate, we build and scale Deep Tech startups into high potential companies with global impact. We believe that hard global problems can be solved using Deep Tech, and Singapore, where we are based, is uniquely positioned to realise Deep Tech innovations that can tackle these challenges. Our Deep Tech Nexus Strategy is focused on adding tangible value to the Deep Tech startup ecosystem in two key areas – development of Human Capital and deployment of Investment Capital. With the support of our partners and co-investors, we back entrepreneurial scientists through equity-based investments, access to talent and business-building advice. Our efforts are prioritised around emerging technologies such as Artificial Intelligence, Autonomous Tech, MedTech and Quantum Tech, which represent impactful and scalable answers to global challenges. SGInnovate is a private-limited company wholly owned by the Singapore Government. For more information, please visit www.sginnovate.com.
PRecious Communications for Reefknot Investments
IN.FOM for SGInnovate