The initiative, launched by Canada’s Ocean Supercluster, is looking for innovators or companies – including those from the aquaculture sector – that have been in business for under five years and have 15 or fewer employees.

Phase one will result in the award of up to 10 prizes of $25,000 each and business support to the winning businesses. Those reaching the second phase will receive $200,000. Applications are open until 14 August.

Companies and teams from around the world may apply, but winners must register as a business in Atlantic Canada before funds will be released.

“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,” state the organisers of the challenge.

“We’re looking for diverse entrepreneurs and innovators from rural, indigenous and urban communities across Canada, and internationally, who have innovative solutions to ocean industry problems,” they add.

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