The inherent attributes of platforms such as network effects scale new efficiencies and coordinating mechanisms and benefit from asset based externalities that are leveraged from the ecosystem; an example of which is the Uber or Netflix revolution. Digitalisation creates a standard for the coordination of multiple participants by taking a market actor or a market action (or interaction) and digitising the actual action to create value for all participants. This is what powers the platform revolution.
This new business design is linked to a technology stack over which external participants, producers and consumers come on board and start interacting with each other.
Le Hub‘s ambition is to create an architecture of transformation to an open platform as a good channel to market. Due to AI and deep machine learning, it will shift the focus from product to user centricity,
Each time one uses the platform services it will have further grown in content and data worth as well as in intelligence and quality of interaction. From access to user distribution to access in user engagement it will capture data to constantly improve user experience and generate value.
It will convert opaque markets into transparent markets and leverage the pooled resources from proprietary organisational advantage to ecosystem advantage. It will extend narrow single point solutions to end to end solutions whilst creating efficiencies all the way.
Does Le Hub replace the single maritime window (SMW) ?
Absolutely not! actually, they are complementary and will have a synergistic relationship. The SMW is yet another international standard for offshore/onshore communication having to do with port berthing and electronic data interchange for customs clearance and cuts across the ecosystem through the various authorities and agencies both Governmental and private. The International Maritime Organisation has made it mandatory for all Ports to have their SMW. We surely welcome the project which is being spearheaded by the MPA.
Le Hub is open to connecting to the SMW through APIs to extend added functionality for the Port Community.
What do you think of technology minded regulation ?
A recent Harvard Business review analytic services survey revealed that, where you choose to locate your business has never been more important. Your resilience, agility, and capacity to channel and lead disruption depend in large part on where you’re based.
In considering which external factors determine where an organisation chooses to locate and operate, the survey’s respondents cited three conditions as paramount: a strong and stable economy (82%), a business- friendly regulatory environment (80%), and the ease of setting up and doing business (77%). When you deal with technology minded regulators, it generally creates a setting that supports all three conditions and this keeps you free to focus on conditions which are under your control, such as building the innovations, the internal culture, and the customer relationships that help you grow your business.
We have been blessed by the visionary support and encouragement of the Mauritius Ports Authority, ever since June 2020. They have endorsed Le Hub as an ally in the digitalisation process dealing in ancillary services provided by private players to ships crossing our maritime super highway. We have no doubt that this PPP based model of collaboration will unlock seamless disruption within the port industry ecosystem and unleash efficiencies whilst reducing transaction costs and downtime and still render us attractive to the super highway!
I believe in less of Government just like in Singapore, when we create an environment whereby everything is down to level playing business.
Where everyone is on board!
Do you think that the Mauritian port community is upbeat and digital savvy enough to welcome digital platforms for the port ecosystem?
I am convinced that the top leadership of this country is bent on modernization and competitiveness. As such, I believe the private sector will welcome the new efficiencies and inter-operabilities that le HUB will orchestrate. We should not forget that we are the star and key of the Indian Ocean. Embracing disruptive business models leveraged by technology to bring about more transparency, vibrancy in order to attract more business from the maritime super highway is the way to go.
Tell us about Network effects of Le Hub ?
Obviously, when more buyers will come on board, more sellers will follow suit. More consumers will invariably attract more producers. We intend to encourage this interaction by creating loyalty programmes of mutually inclusive benefit to all users of the platform. Facilitating business interactions on a digital platform carries unrivalled advantages. It is pandemic proof and location independent thus providing the ecosystem with greater resilience and all this for the benefit of the port regulator who will draw more power and influence from the platform. MPA has rightly chosen to clinch its rightful position of first mover advantage in the region.
What are your expectations?
To be realistic and reasonable, Le Hub will take some time to take off because of stakeholder acceptance and change management issues that befall small economies.
However, when participants will start reaping the dividends, the platform will scale fast. Our philosophy is simple. It is about bringing everyone on board to do business and prosper so as to help our country compete. Our Government and its people will come out as the great winners in this vision of internal connectedness though remaining open to the world. I believe in less of Government just like in Singapore, when we create an environment whereby everything is down to level playing business. Where everyone is on board!
Having been an active Rotarian over two decades, I believe that creating a much larger than life project which benefits our country represents a worthy cause. I therefore extend an invitation to entrepreneurs, businessmen and people of vision who love their country to join and support this noble endeavour.
Data is only great, if we can turn it into insights !
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