In 2020, the OSC announced its first innovation ecosystem project called the Ocean Startup Project, bringing together regional incubators and accelerators across Atlantic Canada to work together collectively for the first time to inspire, initiate, and invest in new and early-stage ocean companies. Now pan-Canadian in focus, the Ocean Startup Project has helped more than155 new ocean ventures become established and, just four years after being announced, was named a top accelerator in North America by Startup Genome’s global report on the strongest startup ecosystems in the blue economy for 2023.
Led by New Brunswick Innovation Foundation in collaboration with partners including Technopole Maritime du Quebec; Invest Nova Scotia; Genesis Centre (NL); PEI BioAlliance; Springboard Atlantic; Creative Destruction Lab (Dalhousie University); and COAST Centre for Ocean Applied Sustainable Technologies (BC) will continue to build on this momentum and help make Canada the best place to start and grow an ocean company.
The global ocean economy is expected to outpace the growth of the broader economy by 20 per cent by 2030. Canada’s Ocean Supercluster, together with organizations across the country have launched a five times growth ambition called Ambition 2035. This is a platform that is transformational in nature, but hinges on the ability to nurture and grow more Canadian ocean companies to help deliver on this opportunity.
Quick Facts—Ocean Startup Project Impacts:
- Supported 155+ companies through programming such as Lab2Market Oceans, Ocean Idea Challenge, Ocean Communities Climate Challenge, Ocean Startup Challenge, and CDL Oceans to support ocean startups
- Distributed approximately $3.2 million in funds
- Created more than 350 direct jobs in Canada (and more than 1,000 indirect)
- Challenge winners have raised more than $19 million
- Several challenge winners have since gone on to lead or partner on projects through Canada’s Ocean Supercluster.
“The Atlantic Ocean has always been our region’s competitive advantage. Investing in new and early-stage firms will make sure Atlantic Canada keeps our advantage for the next generation, creating more jobs and more opportunity while protecting and preserving the ocean that supports us all,” commented the Honorable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency.
