J.B. Hunt Transport and UP.Labs announced on Oct. 2 the establishment of the Logistics Venture Lab. The venture will launch up to six startups over the next three years, beginning in 2025.
These startups will focus on driving efficiency and solving common problems in key industry service areas. The areas include brokerage, dedicated, intermodal, and truckload trucking. From the inception of modern intermodal transit to digital freight-matching platforms to emerging safety technology and beyond, J.B. Hunt has always been people-focused, technology-empowered, and capacity-driven,” said J.B. Hunt CEO Shelley Simpson.
The partnership aims to leverage cutting-edge technologies to address long-standing industry challenges. UP.Labs brings its expertise in startup incubation and emerging technologies, complementing J.B. Hunt’s deep industry knowledge and operational experience.
Through the Logistics Venture Lab, we will launch startups rooted in big data, GenAI, and emerging technologies to solve industry problems with some of the world’s best entrepreneurs,” said UP.Labs founder and CEO John Kuolt. The venture was launched at the fourth iteration of the UP.Summit.
Logistics Venture Lab initiative explained
The invite-only event brings together 300 individuals to discuss the challenges facing transportation. UP.Labs organizes the event, which was recently held in Bentonville, Ark., the hometown of Walmart. Tom Walton and Steuart Walton co-hosted the event.
This reflects their family’s deep ties to the region and Walmart. The Logistics Venture Lab aims to recruit six companies over the next three years to join its incubator. The focus is on utilizing big data, GenAI, and emerging technologies to address industry issues.
“I’m thrilled to be collaborating with J.B. Hunt, a leader in the transportation and logistics industry,” said John Kuolt, founder and CEO of UP.Labs. Kuolt also highlighted UP.Labs’ prior successful investment partnerships. He noted collaborations with Porsche AG in 2022 and the Airline Venture Lab with Alaska Airlines in 2023.
This lab partnership with J.B. Hunt marks UP.Labs’ fourth innovation partnership. The collaboration between J.B. Hunt and UP.Labs signifies a significant step forward in the transportation industry. It aims to foster innovation and address critical inefficiencies through technology and entrepreneurship.
