CANADA (Thursday, August 8, 2024) – The Ocean Startup Project is thrilled to announce the launch of its fourth Ocean Startup Challenge. Innovators and entrepreneurs from across Canada are invited to apply for a chance to help transform their idea and early stage ocean startups into impactful, scalable businesses. 

The Ocean Startup Challenge offers up to $25,000 in awards for winning teams, along with valuable business development support, including mentorship, one-on-one sessions with industry experts, and extensive networking opportunities. This year’s program aims to continue the Project’s mission of fostering innovation and growth within Canada’s ocean economy, propelling the nation to the forefront of the global blue economy.

“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. 

“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.

In addition to funding, training workshops, select participants will receive in-kind support from ecosystem partners across the country; this includes co-working space, facilities, technical expertise and more. 

To highlight critical areas in need of innovation, the Ocean Startup Project hosted multiple roundtable discussions with industry leaders and experts to identify gaps and opportunities in specific areas within the ocean sector. These discussions are reflected in the Challenge Statements, which include areas of focus such as: sustainable seafood, renewable ocean energy, decarbonized shipping and marine transportation, marine bioresources and biotechnology, and autonomous vessels and robotics. Full Challenge Statements are available on the Program website. 

Applications for the 2024 Ocean Startup Challenge are open until September 15, 2024. Information sessions in both French and English will be held throughout the summer to assist prospective applicants in preparing strong submissions. Session dates include:

• (English) August 21 at 11am PT/2pm ET/3pm AT

• (French) September 5 at 11am PT/2pm ET/3pm AT

• (English) September 11 at 11am PT/2pm ET/3pm AT

For more information and to apply, visit the Ocean Startup Project Website (oceanstartupproject.ca/challenge).