Inaugural international accelerator takes on cross-border trade and climate challenges
Published: 04 September, 2024
Digital Catapult, has announced its first International Supply Chain Accelerator, set to transform global supply chains through the application of deep tech solutions. It launches two initiatives: the first focused on Seamless Trade Across Borders and the second on Product Carbon Footprint Measurement, with a view to improving global supply chain resilience and advancing international industrial sustainability.
Building on the success of the Digital Supply Chain Hub, developed by Digital Catapult and funded by UK Research and Innovation (UKRI), the programme has helped over 40 startups and SMEs to secure more than £3 million in funding so far. The International Supply Chain Accelerator will maintain this momentum, enabling participating technology pioneers to scale faster, and strengthening supply chains across key economic sectors including defence, manufacturing and consumer goods.
The first initiative, the Seamless Trade Across Borders project, aims to enhance cross-border trade and is supported by Leonardo UK and BAE Systems, the International Chamber of Commerce (ICC), and BT Group. It will support the UK Government's Electronic Trade Documents Act, which could unlock £25 billion in economic growth, and comes as over 60% of international trade transactions are expected to be digitalised within the next five years.
Digital Catapult is facilitating collaboration between industry partners and technology innovators to address international supply chain challenges including achieving seamless cross-border trade. The participating technology providers include eTEU, Linear-works, Parkway Logic (Exabler), and Kavida AI, who each receive up to £85,000 to develop their solution.
The second initiative, the Product Carbon Footprint Measurement project, has been shaped by the growing number of countries pledging to achieve net zero emissions, which now influences approximately 70% of global CO2 emissions. In collaboration with the Partnership for Carbon Transparency (PACT), this work will help to drive significant advancements in how carbon footprint data is measured and exchanged internationally, with support from Unilever, GS1 UK and the Department for Environment, Food and Rural Affairs (Defra).
The initiative will look to drive the adoption of global carbon footprint measurement standards, showcasing the commercial value of carbon accounting solutions to businesses around the world, as they grapple with new legislation and regulatory hurdles. Altruistiq and Siccar will join the programme with both companies receiving up to £125,000 to develop cutting edge solutions to improve the carbon management process using artificial intelligence (AI), distributed ledger technology (DLT), and advanced identification systems, to improve reporting on Scope 3 emissions.
The accelerator programme launches as the international supply chain sector faces significant challenges with a recent International Chamber of Commerce (ICC) report noting that adopting digital trade documents could boost global trade by $9 trillion (£6.6 trillion) by 2026. Digital Catapult will work closely with participants to deploy and develop their solutions, accelerating the practical application of deep technology solutions within global supply chains, and enabling the participating deep tech companies to scale faster.
To learn more about the programme and how to collaborate with supply chain leaders, please visit
https://hub.digitalsupplychainhub.uk
Sumit Sinha, Founder & CTO at Kavida AI said:-“At Kavida, we build AI agents that deliver end-to-end supply chain visibility and automate post-order processes. After successfully partnering with Digital Catapult and UK manufacturing SMEs to achieve national-scale visibility, we are excited to join the Seamless Trade Across Borders program. This opportunity aligns with our vision of developing AI agents that empower businesses to conduct seamless cross-border trade at scale by providing trade data standardisation capabilities, enhanced global supply chain visibility, and robust automation capabilities.”
Tim Lawrence, Director of the Digital Supply Chain Hub said:- “In the last decade, the volume of cross-border trade has increased by around 25%, demonstrating the economic value of imports and exports, and the need to streamline international trade processes. Through the application of deep tech solutions, participating companies will be empowered to solve some of the most pressing global supply chain challenges, and advance industrial sustainability around the world. This new chapter builds on the success of the Digital Supply Chain Hub so far, and I have no doubt that each company will shape future supply chains for the better.”
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