Innovacorp offers funding to ocean technology companies

Innovacorp has set up three funding opportunities for innovation support to Nova Scotia ocean technology companies.

The Demo at Sea, Early Adopter and OceanTech Development programs aim to help ocean technology companies accelerate commercialization of new innovative products.

The Demo at Sea Program enables Nova Scotia companies to demonstrate pre-commercial ocean technologies in a real-life setting.

The demonstration options include access to the Fundy Advanced Sensor Technology (FAST) platform at the Fundy Ocean Research Center for Energy (FORCE), in addition to other options.

The ocean technology demonstration will take place during February and March 2017, according to Innovacorp.

Early Adopter Program will provide Nova Scotia ocean technology companies with up to C$20,000 each towards the first deployment and testing of a product with an early adopter customer.

Innovacorp said the potential customers can include government entities, academic institutions, and private companies anywhere in the world.

Under OceanTech Development Program, ocean technology companies will be provided with C$20,000 to address short-term milestones in their technology development plan.

Innovacorp notes that the funds can be used to build the product and operate it during testing, engage academic and industry expertise, and perform other technology validation activities such as prototyping, pilot testing, and certification.

To be eligible to apply for either of the programs, the candidates must be be a registered small to medium-sized company based in Nova Scotia with an ocean technology product or service.

The programs are open for submissions until January 12, 2017.

Innovacorp is Nova Scotia’s early stage venture capital organization that works to find, fund and foster innovative Nova Scotia start-ups.