Lab2Market Oceans Launches Fourth Cohort with 19 Remarkable Teams

January 25, 2024  |  ,
The Ocean Startup Project proudly welcomes the 19 groundbreaking teams selected for the fourth cohort of its Lab2Market Oceans program, which kicks off today. The seven-week program, hosted by Memorial University in Newfoundland and Labrador, is poised to cultivate an innovative and entrepreneurial mindset among postdoctoral fellows, graduate students and faculty, propelling teams to reimagine their ocean research concepts and uncover potential commercialization opportunities. “Lab2Market Oceans has demonstrated sustained success by facilitating collaboration between ocean researchers and industry leaders, a crucial element in realizing the full potential of innovative projects,”  said Dr. Paula Mendonça, Director of Innovation and Entrepreneurship at Memorial University. She added, “The integration of academic excellence with industry expertise not only elevates research efforts but positions these teams to emerge as global leaders in shaping the sustainable future of our oceans.” This year’s recruitment process attracted 48 applications from 15 post-secondary institutions. This resulted in the acceptance of 19 teams representing seven universities across six provinces – British Columbia, Ontario, Quebec, New Brunswick, Nova Scotia, and Newfoundland and Labrador.    In a strategic move, the Lab2Market Oceans program shifted its start from September to January to better accommodate research timelines for students, who will receive $15,000 in Mitacs funding to support their participation.    Lab2Market teams and their respective universities include:   
  • Team Four: Developing an Advanced Vessel Relocation Tool for Extending Subsea Riser’s Lifetime, Memorial University
  • ArcticInno Solutions: Investigating the Influence of Trenching/Backfilling on Pipeline Response and Seabed Failure Mechanisms to Ice Gouging, Memorial University
  • Iceberg007: Developing an AI-based modelling tool to support decision-making in iceberg tow management for the protection of subsea infrastructures, Memorial University
  • Marine Critical Parts (MCP), Memorial University
  • Clean Ocean Watch (COW) Platform: Advancing Oil Spill Detection and Real-time Monitoring using Sentinel-1 Satellite Imagery, Memorial University 
  • NewfoundLabs Dynamics: Hydrothermal Carbonization (HTC) of Shrimp Shell Waste for Chitin Extraction, Memorial University
  • Endurance: Modular sun-tracking floating solar power generation platform, University of Victoria 
  • MUN CASLab: Piezoelectric Micro-Electro-Mechanical Systems (MEMS) energy harvesters, Memorial University 
  • Ocean Straws, Saint Mary’s University
  • SeaBio: Production of Organic Biostimulants from Atlantic Seaweed, Memorial University 
  • Porogels: Development of highly porous bioinks from crustaceans waste, École de technologie supérieure (ÉTS)
  • FIMIM Coating: Innovative Durable Marine Protective coating for Mild Steel in Marine Environment, University of Victoria 
  • PilotAssist: Navigation Aid System to reduce environmental impact, Université du Québec à Chicoutimi (UQAC)
  • MUN Power Electronics Research Group: Advanced Power Electronics Converters for Ocean Wave Energy, Memorial University 
  • AquaPrint: Remotely Operated Bio-inspired Additive Manufacturing Underwater Robot, University of New Brunswick 
  • Experimental Fluid Mechanics (EFM) platform: Develop a particle image/tracking velocimetry (PIV/PTV) analyzing platform, York University
  • Bo(a)t: Build Your Own Robot-Ship – Configurable and Modular Vessels for Marine Autonomy Research and Autonomous Inspections, Memorial University
  • Marine Radar: Cross-sea Wave Analysis and Prediction System (CWAPS), Memorial University 
  • UVic-AUSV: Cloud-Based Integrated Power Management and Path Planning System for Renewable Energy Unmanned Surface Vehicles, University of Victoria
Since 2020, 76 teams have enrolled in Lab2Market Oceans, and at least 25 teams continued to pursue commercialization following the program. Five alumni teams have been selected as winners in the Ocean Idea Challenge and Ocean Startup Challenges, where they received additional training, mentorship, networking opportunities, funding and additional resources to grow their startups.  Lab2Market Oceans is a core initiative under the Ocean Startup Project, and hosted by Memorial University. It is supported by Springboard Atlantic, Canada’s Ocean Supercluster, the Atlantic Canada Opportunities Agency (ACOA), Mitacs and the University of Victoria. Facilitated by world-class experts, teams will delve into entrepreneurial methodologies and business best practices, covering topics such as customer discovery, market sizing, stakeholder engagement, intellectual property, regulatory processes, revenue streams, cost structures, and more.

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