Launch of Log-X platform

Global trade enabler DP World has taken a step towards the digital transformation of the logistics sector with the launch of Log-X, a national technology accelerator platform for logistics. Log-X aims to catalyze the start-up community to build smart trade solutions using digital technology to revolutionize the logistics sector. The accelerator programme will be run in cities like Mumbai, NCR and Bangalore, in partnership with Invest India, Kerala Start-Up Mission to bring out innovation and adopt technology in the Indian logistics sector. The programme will focus on digital technologies like Blockchain, Artificial Intelligence, robotics, simulators and Internet of Things (IoT). It will seek to identify logistics-focused technology start-ups through the Startup India portal and will look to bring on board up to 10 selected start-ups for conducting pilots. The programme will extend industry credibility to the selected start-ups, offer an opportunity to do a Proof of Concept (POC), give them access to DP World’s network of customers, partners, mentors and investors, and offer the potential to raise strategic capital. The finalist start-ups will be mentored by the DP World leadership team and external mentors.  Infrastructure building is the key to actually building logistics efficiency and to bring the cost of logistics down in India. The 13-14 percent [cost of logistics] that exists in most publications and journals as a percentage of GDP, has to come down to 8-9 percent which is what most developing economies have. This has two implications;

1. It makes Indian exports more competitive. For every 10 percent reduction on the cost of logistics, there is a 10 percent jump in exports. It’s a very strong correlation. The cost of logistics has a very important role to play in terms of achieving GDP growth, in ensuring the Indian economy is out there competing with all the other economies.
2. The shift to multi-modalism. Sixty-five percent of the freight in India is by trucking, while in most developed economies it is 25 percent. There has to be a shift from trucking to other modes of transport. We want to be the company that makes the choice available to Indian exporters-importers and people in the logistics business. These are the two big trends that I’d like to focus on.” Light Metric, founded in February 2015, helps enterprises with large fleet operations monitor driver behaviour to improve safety, efficiency and compliance. CredAble, founded in March 2017, operates in the finance space facilitating early payment solutions. Wobot Intelligence is an AI-first plug and plays SaaS that uses business’ underutilized video data from existing CCTVs using innovative action recognition/prediction and person re-identification architecture to help them manage their
   business more efficiently.