The Ocean Startup Project has selected 16 early-stage companies for the 2024 Ocean Startup Challenge cohort. Each will receive up to $25,000 in non-dilutive funding, along with support to scale their ocean-focused businesses.
Funded mainly by the federal government and Canada's Ocean Supercluster, the national Startup Project is backed by the New Brunswick Innovation Foundation, the P.E.I. BioAlliance and Invest Nova Scotia, among other organizations. Launched in 2020, the challenge has now spent just over $2.25 million to back 95 startups, organizers said in a statement.
This year’s cohort spans key sectors of the blue economy, including marine biotechnology, sustainable seafood, and autonomous vessels, with a notable rise in seaweed-related innovations, organizers said.
“By working closely with them (startups), we're gaining a much deeper understanding of the trends driving innovation in the sector, as well as the unique hurdles these early-stage companies face,” said Natasha Legay, Ocean Challenge Director at the Ocean Startup Project.
The cohort includes:
● Aquarius Fishing Technologies Inc. (QC): Developing an underwater plane that precisely controls the depth of commercial fishing nets, preventing contact with the seabed and helping fishermen improve profitability.
● Atlantic Echo Solutions (NL): Developing acoustic methods to remotely measure sound speed profiles in the ocean.
● BioLabMate Composite Inc. (NL, NS): Producing biodegradable labware from seaweed bioplastics to reduce plastic waste in labs and healthcare settings.
● Celerity Craft Inc. (BC): Developing the Dynamic Air Cushion Vehicle (DACV), a marine vessel that significantly reduces the environmental impact of marine transportation while delivering faster, smoother and more efficient travel.
● Cytochrome (NL): Developing ocean-based reactor systems that capture and permanently store CO2 in a highly cost-effective way.
● Deepwater Robotics (ON): Building a fleet of long-range and low-cost autonomous underwater vehicles (AUVs) that will travel the ocean for months at a time to complete a variety of survey missions across the globe.
● Eagle Eyes Search Inc. (BC): Transforms AUVs into intelligent assistants for public safety, converting the overwhelming stream of data they produce into clear actionable insights.
● EcoMarine Technologies Inc. (NS): Building an autonomous ROV designed to clean ships' hulls while collecting fouling debris to prevent environmental contamination, all integrated with AI-driven sensors for real-time monitoring and predictive maintenance, offering a sustainable and cost-effective solution to the global biofouling problem.
● Fibr.Bio (BC): Pioneering sustainable performance fibers by transforming organic bio-waste into a high-performance spandex alternative through advanced bacterial fermentation.
● Kelp Island Inc. (BC): Addressing climate change through material design and product innovation.
● Miha Biotech (BC): Engineering a new type of bandage using seaweed that provides effective cooling treatment and painless removal for burns.
● Ocean AID (BC): Empowering marine decision-making through real-time AI object detection, supporting sustainable oceans.
● Ocean Riot (QC): Delivering turnkey automated solutions for seafloor resource and biomass assessments using marine robotics and artificial intelligence.
● REPWR (Waabaag Energy Corp) (ON): Developing a standardized, modular solar energy system that rapidly installs on shipping containers to provide renewable energy for marine transportation and port logistics.
● Seacork Studios (BC): Developing biodegradable acoustic panels from local seaweed by rethinking our relationship to materials and their origins.
● Spoitz Enterprises Inc. (AB, BC): Building the seaweed industry in North America by improving the areas that are severely lacking access to seaweed processing and testing to create a range of stabilized liquid and solid products for the food, agriculture, and chemical industry use.
