CANADA (Wednesday, October 16, 2024) – The Ocean Startup Project is proud to announce the 16 innovative companies selected as part of the 2024 Ocean Startup Challenge cohort. Each startup will receive up to $25,000 in non-dilutive funding, as well as a comprehensive support package to accelerate the growth of their ocean-focused solutions.

This year, the Ocean Startup Challenge attracted 56 applications from across Canada, with many emerging companies submitting their first application to break into the ocean startup scene.

The chosen startups span various sectors of the blue economy, including sustainable seafood, renewable ocean energy, autonomous vessels, and marine biotechnology. Notably, there was a surge in seaweed-related innovations, which reflects the growing interest in sustainable ocean solutions and the diverse opportunities within the blue economy.

“One of the best parts of leading this competition is getting to connect with such a dynamic group of startups. The creativity and passion these applicants and participants brought to the table this year is truly impressive. It’s inspiring to see how they’re tackling real-world ocean challenges head-on,” said Natasha Legay, Ocean Challenge Director at the Ocean Startup Project.

“By working closely with them, 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. This insight helps us better support them, not just through the competition, but as they continue to grow and address critical global ocean issues.”

The results of this year’s Ocean Startup Challenge highlight the success of OSP’s programming continuum that supports founders as they progress. Several companies selected for the 2024 Ocean Startup Challenge have already excelled in earlier stage Ocean Startup Project programs. Aquarius, Deepwater, Fibr.Bio, Miha Biotech, Ocean Riot, and Seacork recently completed the Ocean Idea Challenge, while BioLabMate and Ocean AID were winners of our 2023 Ocean Communities Climate Challenge. These teams, along with others, form the cohort companies chosen for this year’s Ocean Startup Challenge, each leading innovative advancements in ocean tech.

The 2024 Ocean Startup Challenge 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 UAVs 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 ship 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.

Participating startups will gain access to business development resources such as workshops, one-on-one mentorship with industry experts, and extensive networking opportunities. Additionally, program participants will have access to approximately $250,000 worth of in-kind support from partners across the country, gaining access to co-working spaces, facilities, technical expertise, and so much more to grow their startups.

For more information about the selected companies and the Ocean Startup Challenge, visit oceanstartupproject.ca/challenge.