canada helps its maritime startups
Investors North America Startups

Canada helps its maritime startups

Three Nova Scotia-based organizations announced they are undertaking new projects to further the momentum in the ocean sector, bring new employment to the Greater Halifax area and strengthen Canada’s position as a global leader in sustainable ocean practices.

The work undertaken by DeNova Inc., the Centre for Ocean Ventures & Entrepreneurship (COVE) and Sedna Technologies Inc., will result in the development of new products and technologies, solutions to industry labour gaps, and enhanced viability and sustainability in Canada’s ocean economy.

Funding for these projects is being provided through the Atlantic Canada Opportunity Agency (ACOA) and the National Research Council of Canada’s Industrial Research Assistance Program (NRC IRAP), which help small and medium-sized businesses take their ideas to market, driving growth through innovation and technology.

These investments support commitments made by the Government of Canada and its partners in Canada’s Ocean Supercluster and continues to build on the objectives of the Government’s Innovation and Skills Plan and the Atlantic Growth Strategy.

Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for South Shore – St. Margarets said, “The ocean is a new economic frontier. In a little more than a decade, the global ocean economy is forecasted to double in size and create tremendous new employment opportunities, innovations and economic growth. Our government recognizes this huge potential and we are proud to support businesses that are developing real, sustainable solutions that can create prosperity for years to come.”

Ocean technology focuses on creating or providing technologies for marine applications above and below the water and is a vital contributor to Atlantic Canada’s economy, providing more than 350,000 jobs in the region and supporting more than half of Canada’s $30-billion ocean economy.

Ocean technology is part of the broader oceans sector, which has long been a significant source of value to local and international economies. With the natural advantage of having one of the most abundant ocean resources in the world, Atlantic Canada’s ocean sector is thriving with small and medium-sized companies in the ocean startup ecosystem generating new technologies, clean resources, and good middle-class jobs.