The Recap: Asyad Global Logistics Challenge Spotlights Entrepreneurs Solving Issues In The Global Logistics Industry

On November 2-4, 2021, at the Expo 2020 Dubai, in collaboration with Hypermotion Dubai and Omantel, integrated logistics services provider Asyad Group hosted the Asyad Global Logistics Challenge.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

On November 2-4, 2021, at the Expo 2020 Dubai, in collaboration with Hypermotion Dubai and Omantel, integrated logistics services provider Asyad Group hosted the Asyad Global Logistics Challenge. The event aimed to harness the talent of entrepreneurs to tackle issues and challenges faced by the global logistics industry.

Consisting of two fast-paced competitions, Asyad Global Logistics Hackathon and Asyad Global Startup Challenge, it gathered more than 50 entrepreneurs from 15 countries.

Abdulrahman Al Hatmi, CEO of Asyad Group, commented on the event’s significance: “Data science is the currency of today and tomorrow, and has given rise to new business models. The Asyad Global Logistics Challenge offered an ideal platform for us and our participants to channel these capabilities, advance innovation and build a sustainable data-driven industry.”

The two-day hackathon’s finalists of 45 data scientists, who were selected from more than 500 applicants, built complex algorithms to solve real-world logistics issues, such as vessel maintenance prediction, vessel fuel and route optimization, marine sensors using IoT, emissions monitoring, and Ports asset damage identification using image processing. Team Noufal, which used AI to evaluate and monitor results, won first place. The two-member team was able to build an algorithm that uses historical ship building data to accurately forecast potential build prices and predict the best time to buy or hold a vessel.

Meanwhile, with the startup challenge progressing from 50 applications to 12 finalists, its final round included seven MENA-based and five international companies, and a pitching round, wherein teams presented their solutions to a panel of judges and an audience of investors. In first place, with a US$25,000 prize was Cubex Global LLC, a digital marketplace for ocean freight from the UAE. With an aim to solve the problem of how over 100 million shipping containers remain 25-40% empty while travelling from port to port, the startup developed a digital marketplace built upon blockchain to enable the buying and selling of cubic meters of container space.

The event also featured networking opportunities, as well as a dedicated mentorship section to support startups and SMEs in their growth.

Related: Eng. Abdulrahman Al Hatmi, Group CEO, Asyad Group, On His Oman-Based Enterprise's Quest To Secure The Future Of Logistics

Latest

This Entrepreneur Maxed Out His Credit Cards to Build a Business That Helps Companies Protect their Data

The president and CEO of Data443 shares how his company secures and manages organizational data wherever it exists.

How This Doctor-Turned-Entrepreneur is Trying to Change the World Through Play

The CEO of In KidZ shares how she's trying to make inclusion a daily part of family life with her culture-focused company.

How to Lead Calmly and Effectively While Your Business Experiences Growth

The co-founder and CEO of Komodor discusses his company's journey and his advice for entrepreneurs who find themselves in the spotlight overnight.

This Meta Leader Has Interviewed More Than 300 Job Candidates. Here are Her Pro Tips to Help You Nail Your Next Job Interview.

Meta's head of Global Environmental, Social, and Governance Business shares her dos and don'ts when it comes to the phases of a job interview.

This No-Code Platform Just Closed a $55.5 Million Round B

The co-founder and CEO of EasySend shares how his company creates digital customer journeys and his advice for entrepreneurs looking to break through the noise.

This SaaS Founder Sold His Business to Oracle for $9.3 Billion

In November 2016, NetSuite was acquired for $9.3 billion. Founder Evan Goldberg explains how it happened.

These Founders Started Their Company With a $300 Investment. They've Now Done $1 Million in Profits.

Watch this exciting episode of 'Entrepreneur Elevator Pitch' to learn about Canadian legging company Rose Buddha and see which hopefuls are able to land investor capital.

This Digital Campaign Celebrates the Fast-Growing Workforce of Web Creators

Elementor's VP of Marketing discusses the company's digital campaign and how web creators fit into the larger creator economy.

Watch the 60-Second Pitch That Landed a $500,000 Investment

Find out which companies impress our investors on another exciting episode of 'Elevator Pitch.'

Why This CEO Believes Entrepreneurship Is as Important to Learn as Geometry

Ayele Shakur shares her bold plan to make entrepreneurship education a requirement for high-school students and explains why business leaders should get on board.

How this Healthcare Entrepreneur is Disrupting the Fertility Space

The Founder and CEO of Inception Fertility shares how his family's road to parenthood inspired a brand that's making fertility treatment more accessible and the patient experience at the heart of what they do.

Discover Entrepreneur Series

Whether you need advice on how to get your business off the ground or you’re just looking for inspiration, our video series have something for everyone. Browse our library below to find a series that speaks to you and your interests.

  • An original series streaming weekly where you can Click-to-Invest while you watch. THEIR JOURNEY. Your decision.
  • Your favorite pitch show is back with new entrepreneurs pitching Entrepreneur's investors.
  • Host Nicole Walters interviews small business founders to discuss their unique challenges and experiences running and growing a business. 
  • Jessica Abo covers the causes people care about, the powerful work they do and how they got to where they are in the first place.
  • Bestselling author, Ben Angel, takes his audience on a journey into the entrepreneurial mind to uncover why we do what we do through his powerful short films and educational videos so you can unleash your ideas and potential.
  • Watch our staff interview top entrepreneurs and report on location in these Entrepreneur.com exclusive videos.