Apr. 29, 2021

Ocean Startup Challenge

Article by Ocean Startup Project

We’re providing up to $1.4 million in funding to entrepreneurs developing solutions to ocean industry challenges

Turn your idea or technology into a wave of opportunity! With the world’s longest coastline, globally renowned research facilities and experts, government programs and supports, and a steady flow of talent, Canada is the right place to start or grow a successful ocean tech company. The Ocean Startup Challenge is designed to support innovators who are leveraging Canadian ocean assets and capabilities to develop technologies that can be applied to global ocean problems.

General Eligibility

Winners must have an incorporated company in Canada before funds are released. See below for International Applicant criteria.

Applicants must be the majority owners of the company.

Existing companies must have been in business for under five years and have 15 or few employees.

International Applicants

Applicants from around the world may apply for the Growth and Oceanshot competition streams.

Any funds received from the Ocean Startup Challenge must be spent in Canada (e.g. equipment, materials, consultants).

International applicants must demonstrate how they will leverage Canada to advance their venture. The following are examples of how you can leverage Canadian assets:

  • Have a letter of support from a Canadian incubator or accelerator
  • Have a Memorandum of Understanding with a Canadian facility, organization, partner, or customer that can support the development of your technology in Canada

International applicants need to incorporate their company in one of the Canadian provinces, territories or Federally before funds will be released.

Please click here to learn more and to apply.