The Ports 4.0 Fund project is a business accelerator at national level promoted by the spanih Ports administration “Puertos del Estado”. Specifically, it is an inter-port compensation fund aimed at promoting innovation as an element of competitiveness in the Spanish public and private logistics-port sector and thus facilitating the transition of the sector to economy 4.0. This fund was created in March 2018 with 20 million euros to be contributed by Spanish ports through a contribution equivalent to 1% of their recurring Cash Flow over the next four years.
This initiative, managed through “Puertos del Estado” and Port Authorities (including the Vigo Port Authority), has four main axes: Logistics efficiency, Digitalization of smart processes and platforms, Environmental sustainability and energy, and Safety and protection.
The aim is to identify and promote business ideas and develop viable and profitable companies in each of these axes, also promoting public and private collaboration. It also seeks to put innovative products, services and processes at the service of the port community, promoting the development of prototypes, pilots and the practical application of innovation strategies in economy 4.0.
The projects that are developed under the Ports 4.0 Fund will allow progress in achieving the following objectives of the Port of Vigo:
Innovative port: the projects selected must develop a new product, service or process, or improve an existing technology with an innovative component.
Connected port: the Ports 4.0 Fund is developed in such a way that it contributes to the connection between different ports at national level; but it also gets private entities to participate with port authorities to implement and carry out their projects.
Currently, the Ports 4.0 Fund has been presented by "Puertos del Estado" in several participant ports. The publication of the regulatory bases is pending, after which it will be possible to prepare and present the applications.