The Ocean Startup Challenge is a competition seeking innovative solutions to ocean industry problems. The Ocean Startup Project launched the Challenge to support innovators who are developing technologies with large market potential in the ocean economy.

We encourage individuals/teams of all backgrounds and experiences to submit an application, providing they are in the idea/early stages of developing an ocean technology company.

Specifically, we are looking for companies with a TRL of 6 and below for the 2025 competition.

Applicants must also:

• be Pre-revenue (pilot revenue is eligible)

• have $250,000 in investment or less

Innovators, entrepreneurs and companies from across Canada and around the world may apply for the Challenge, but winners must register an entity in a Canadian province/territory, or federally.

Applicants from an existing company must be the majority owner(s) of the company.

Before applying, we recommend you review the Challenge’s information kit; it is available in both French and English.

You may apply online through our application page. We recommend writing your answers to the questions using a Word or Google document, and then copying and pasting your answers into the web form. Please note, you are not able to save and continue at a later time.

Apply before the Challenge deadline: July 20, 2025.

See above.

Applications will be reviewed by an evaluation committee that includes Ocean Startup Project representatives and industry experts who are knowledgeable about the specific sectors and technologies highlighted in the challenge statements.

In selecting the competition winners, the quality of the idea/technology, the strength of the management team, and the clarity and persuasiveness of the written plan and oral presentation, all influence the judges’ decisions.

Key criteria for evaluation include:

• Team or Founder (30%): We are looking for a well-balanced team or founder with a diverse mix of skill sets that align with the startup’s goals. The team should demonstrate a strong passion for solving a real-world problem and a clear intent to pursue commercialization. Ideal applicants will have relevant experience and capabilities to execute their plan, or at least be aware of and able to articulate any gaps in their current team. Bonus points will be given to teams with previous startup experience and to those who have at least one person working full-time on the startup.

• Problem Understanding and Market Opportunity (20%): Applicants should show they have conducted deep research into a sustainability-related problem in the ocean sector. A strong application will articulate why the problem is urgent and worth solving now, and provide quantitative evidence of the problem’s scale—such as the financial or time burden it imposes on potential customers. A good understanding of current market alternatives and their shortcomings is also essential.

• Customer Discovery & Market Interest (20%): Successful teams will be able to clearly define their current ideal customer profile. They should have engaged in customer validation with potential users and stakeholders, and be able to share insights from these conversations. Applications should demonstrate that the problem is a priority for customers and reflect on how customer discovery may have influenced or evolved their understanding of the problem.

• Proposed Solution (15%):The solution should be sustainability-focused, innovative, and demonstrate potential for intellectual property creation. It must be feasible and scalable, offering a unique value proposition to customers. Strong applications will also show clear potential for revenue generation.

• Use of Funds and Impact (15%): Applicants must outline how they intend to use up to $25,000 in funding. The proposal should clearly explain how the funding will accelerate progress toward a key milestone, such as securing a first customer or launching an early adopter trial. The anticipated impact of the funding on the startup’s trajectory should be well articulated.

Applicants will retain ownership of any intellectual property associated with their application. All applications will be treated confidentially. Only those individuals directly involved in managing or judging the competition will view your submitted documents.

Winners will receive dedicatreds support from an Executive-in-Residence, as well as access to programming from the OSP and its partners.

Successful applicants will have until February 26, 2027 to submit expenses related to achieving pre-determined milestones.

Yes! You can find all the information related to the Ocean Startup Challenge in both French and English.

Reach out to our Challenge Director, Natasha Legay, with any questions.