Paula Mendonça, Executive Director of the Ocean Startup Project.
Photo: Ocean Startup Project.
Canada's Ocean Startup Project has officially launched its fourth Ocean Startup Challenge, inviting innovators and entrepreneurs from across Canada to apply.
Since its inception in 2020, the Ocean Startup Challenge has become an important platform for fostering innovation in Canada's ocean industry. Over the past four years, the initiative has invested more than $2.25 million in funding to support 95 teams in developing groundbreaking solutions to some of the most pressing challenges facing the ocean sector.
The Challenge, now entering its 2024-2025 cycle, continues to attract early-stage Canadian startups, offering up to $25,000 in awards for up to 15 selected teams. These startups, particularly those at Technology Readiness Level 5 and under, are provided with an array of business development resources designed to transform their visionary ideas into scalable ventures.
"The Ocean Startup Challenge is more than a competition; it's a catalyst for innovation and economic growth. By empowering entrepreneurs to develop groundbreaking ocean technologies, we are not only addressing critical challenges but also strengthening our position as a global leader in this crucial sector,” said Paula Mendonça, Executive Director of the Ocean Startup Project in a press statement.
“Participating in this challenge unlocks various growth opportunities in a unique environment rooted in collaboration, rapid feedback, and access to resources and funding. This synergy not only drives sustainable economic growth but also transforms the future of the blue economy and Canada’s role in it,” said Mendonça.
This year’s program also includes in-kind support from ecosystem partners across the country, offering resources such as co-working spaces, technical expertise, and access to facilities.
The program has been working closely with industry leaders to develop focus areas, or "Challenge Statements", intended to inspire entrepreneurs to address gaps and opportunities in specific areas within the ocean sector. Focus areas include sustainable seafood, renewable ocean energy, decarbonized shipping and marine transportation, marine bioresources and biotechnology, and autonomous vessels and robotics.
Under the category of "sustainable seafood", this year's program highlights the following challenges for potential applicants, as follows:
Develop an AI and machine learning-enabled processing technology for shellfish farms that increases the efficiency of grading, sorting and processing.
Develop a sustainable and cost-effective feed for aquaculture using novel ingredients that reduces the environmental footprint (including transportation) of the feed production whilst maintaining nutritional requirements.
Develop a novel technology or process to reduce mortality rates in aquaculture.
Develop a technology enabled solution to increase efficiency of oyster production and harvesting
Develop a sustainable packaging alternative that maximizes freshness and taste of seafood.
Develop a processing technology to increase the efficiency of seaweed harvesting and subsequent processing (drying etc.)
Create an alternative seafood packaging solution to reduce industry reliance on styrofoam.
Applications for the 2024 Ocean Startup Challenge are open until September 15, 2024. Information sessions in both English and French will be held throughout the summer to assist applicants in preparing their submissions, with the next session scheduled for August 21 in English.
More information on the application procedure and challenge statements can be found at the following website: https://oceanstartupproject.ca/challenge/.
