Innovacorp is calling for applications for the third cohort of Start-Up Yard, its incubation program for ocean technology companies.

Successful entrants must pay $2,000 to enter the program, but they then receive a grant of $22,500 in development capital as well as a place to develop their businesses. They also receive office space in the Start-Up Yard facility in Dartmouth as well as educational programming.

The Start-Up Yard team expects five companies will be accepted into the cohort, which will run until the end of March. You can find applications and information on the program here. The deadline to enter is Sept. 20.

Start-Up Yard is located at the Centre for Ocean Ventures and Entrepreneurship on the Dartmouth waterfront. That means its companies have both office space in an urban location and access to the harbor so products can be tested in salt water.

“Start-Up Yard is more than infrastructure and other resources,” said Innovacorp in a statement. “It is a community – an environment with a strong innovation culture that lets start-ups engage with like-minded entrepreneurs and organizations that can help them grow. It also partners with post-secondary institutions to help drive commercialization of ocean technologies.”

Start-Up Yard is targeting the following sectors: energy, marine transportation, fisheries and aquaculture, marine defence and security, and marine tourism.

Entrants must be startups based in Nova Scotia and must be pre-revenue or have sales of less than $1 million per year.