Helping alumni reach near-term milestones with follow-on funding opportunities

Ocean Challenge: Boost bridges gaps and accelerates progress towards critical milestones

Dive into the next wave of innovation with the Ocean Challenge: Boost, a strategic initiative designed to propel the growth of our esteemed alumni. This exclusive program targets past victors and participants of the Ocean Startup Project, offering a unique opportunity for those actively navigating the journey of commercialization. By providing targeted follow-on funding, Ocean Challenge: Boost aims to bridge gaps and accelerate progress towards critical milestones. With a dedicated fund and a focus on impactful development activities, this initiative stands as a beacon for ocean tech entrepreneurs ready to amplify their impact and achieve new levels of success. Join us in this exciting chapter as we continue to support the brightest stars in the ocean technology sector, fostering growth, innovation, and sustainable success in the blue economy.

This program is designed as a follow-on fund and expedited challenge program aimed at providing a significant push—or bridge—to support our alumni in reaching near-term goals. It’s an invitation to dream bigger and reach further, faster. Eligible activities and expenses include: equipment, materials, subcontracting, and travel.

When considering applicants for the Ocean Challenge: Boost, several key factors play a pivotal role in our decision-making process. First and foremost, we evaluate the team’s composition, assessing whether the right individuals are in place—or have been identified—to successfully achieve the proposed milestones. Equally critical is the potential impact of the funding; we look for ventures where our financial support would significantly propel them towards meeting their near-term goals, which are crucial for their growth. The urgency and readiness to utilize the funding effectively and promptly for the proposed milestones also weigh heavily in our considerations. Lastly, we take a close look at the progress each team has made since their last engagement with OSP programming, as this gives us insight into their dedication and trajectory towards success

How to Participate

  • Ocean Challenge: Boost is an exclusive follow-on funding opportunity, specifically designed for alumni of the Ocean Startup Project’s past challenges and programs. If you’ve previously won or participated and are actively pursuing commercialization, this program is tailored for you, offering a unique chance to propel your venture forward.

  • Selected teams will be invited to an invite-only session where they will have the opportunity to present their progress since their last engagement with OSP. This is your stage to highlight achievements, learnings, and how you’ve navigated the path to commercialization, setting the scene for your next big leap.

  • During the evaluation session, you’ll pitch the specific product or customer development activities you plan to undertake with the potential funding. This is a critical moment to convince the evaluators of the impact this funding could have on your venture, detailing the milestones you aim to achieve by the set deadline.

  • With a budget assigned for a specific initiative, eligible companies can receive up to $5,000 in funding to cover the expense(s). This direct financial support is designed to minimize administrative burdens, allowing you to focus on achieving meaningful business milestones that can significantly advance your company’s position in the market.