About the Ocean Technology Programs
Innovacorp offers innovation support to Nova Scotia ocean technology companies through three opportunities: Demo at Sea Program, Early Adopter Program and OceanTech Development Program.
The three programs help ocean technology companies accelerate the commercialization of new innovative products. We also have our Blue Solutions Start-Up Challenge, a competition to build on the increasing ocean technology development across our region and to ignite the start-up community in Nova Scotia.
Our ocean technology programs are closed for submissions!
Demo at Sea Program
The Demo at Sea Program lets Nova Scotia companies demonstrate pre-commercial ocean technologies in a real-life setting.
Recipients may use the awarded funds for any of the following demonstration options:
• Access to a LeeWay Marine or Dominion Diving vessel for a one- or two-day charter. Both companies offer experienced marine operators and well-maintained, reliable vessels. The charter will give several companies the opportunity to deploy and test their products in the ocean. Funding for excursions will cover vessel and accommodation costs.
• Access to the Fundy Advanced Sensor Technology (FAST) Platform at FORCE.
The FAST Platform will enable testing and demonstration in high flow environments. Funding for this option will also cover 50 per cent of travel and accommodation costs, if required.
• Access to the Flume Tank at the Marine Institute in St. John’s, Newfoundland and Labrador. This facility is used to carry out performance evaluations, gear tests and other observations on newly developed or existing fishing gear and other related equipment in simulated underwater and near-surface conditions. Funding for this option will also cover 50 per cent of travel and accommodation costs, if required.
• Other demonstration options will be considered if a strong business case is provided.
The activities described above will happen between November 2017 and March 2018. Exact dates will be determined based on the availability of participants accepted into the program. The demonstration options implemented will depend on demand.
Early Adopter Program
The Early Adopter Program provides Nova Scotia ocean technology companies with up to $20,000 each towards the first deployment and testing of a product with an early adopter customer.
Potential customers can include government entities, academic institutions and private companies anywhere in the world. Customers must agree to provide test data and feedback.
The strongest expressions of interest will include a letter of intent from an identified customer. However, interested companies can also get our assistance in finding potential customers.
Funds can be used to build the product and operate it during testing, as well as for company travel and other costs related to product deployment. Travel costs to secure an early adopter customer are ineligible.
OceanTech Development Program
The OceanTech Development Program provides Nova Scotia companies with up to $20,000 each to address short-term milestones in their technology development plan.
Funds can be used to build the product and operate it during testing, engage academic and industry expertise and perform other technology validation activities (i.e., prototypes, pilot tests and certification). Expenses such as founder salaries, multi-use equipment and marketing are excluded. Eligible expenses are limited to incremental, project-specific costs.
Eligibility for Programs
Candidates for the Demo at Sea, Early Adopter and OceanTech Development Programs must be a registered small to medium-sized company based in Nova Scotia with an ocean technology product and/or service.
Location: Nova Scotia-based
Company Stage: Sales of less than $1 million per year
Product Stage: New product at the following technology readiness levels (refer to this page for level descriptions):
- Demo at Sea Program: Levels 4-7
- Early Adopter Program: Levels 7-9
- OceanTech Development Program: Level 2 or higher
People: Founders and/or management team have industry knowledge, management experience and commitment to the venture
Market: Large, growing international market
Competition: High barrier to competitive entry
Execution: Credible plan to reach key milestones
How to Apply
The Demo at Sea Program, Early Adopter Program and OceanTech Development Program are closed for submissions. The deadlines for expressions of interest were:
Demo at Sea Program – Wednesday, September 27, 2017, at 5:00 pm AST
Early Adopter Program – Thursday, October 12, 2017, at 5:00 pm AST
OceanTech Development Program – Thursday, October 12, 2017, at 5:00 pm AST
Companies selected to participate in the Demo at Sea Program were notified on Friday, October 6, 2017.
Shortlisted companies for the Early Adopter and OceanTech Development Programs will be notified on Friday, October 13, 2017, and will be invited to present on Monday, October 23, 2017. All applicants will be notified about the results the week of October 23-27, 2017.
All projects must be completed by Friday, March 23, 2018.
Questions can be directed to Kyle Burton, Program Coordinator, Start-Up Yard at COVE, Innovacorp, at 902.424.8670 ext. 1406 or 1.800.565.7051 ext. 1406, or firstname.lastname@example.org.
The ocean technology programs are presented by: