Innovacorp is offering innovation support to Nova Scotia ocean technology companies through two new opportunities: Demo at Sea Program and Early Adopter Program
Both programs aim to help ocean technology companies accelerate commercialization of new innovative products.
We welcome your submissions for these programs. The deadline for expressions of interest is Friday, August 5, 2016, at 5:00 pm AST. We ask you to use the expression of interest form below, answering the questions in the boxes provided, and then submit it to us via email. All applicants will be notified about the results the second week of August. Shortlisted companies will be invited to present to the selection committee.
Demo at Sea Program
The Demo at Sea Program lets Nova Scotia companies demonstrate pre-commercial ocean technologies in a real-life setting.
The demonstration
options are:
· Access to a LeeWay Marine vessel for a one- or two-day charter. LeeWay offers highly skilled and 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.
· Access to a LeeWay Marine vessel for a six-day charter to Woods Hole Oceanographic Institution. The trip will include two days on a vessel to Woods Hole, Massachusetts; two days at Woods Hole Oceanographic Institution for meetings and other activities tailored for participating companies; and two days on a vessel back to Halifax. The vessel will have capacity for five to six companies. Product testing and demonstration can occur at all stages of the excursion.
· 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 LeeWay excursions will cover vessel and accommodation costs. For Woods Hole excursions, participants must contribute $500. Meals and accommodations off the vessel at Woods Hole are excluded. Funding for FAST Platform access will cover the costs of product deployment and recovery.
The
ocean technology demonstration opportunities will happen during August to
October 2016. Exact dates will be determined based on the availability of
participants accepted into the program, and 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.
Eligibility for the Demo at Sea Program and Early Adopter Program
Candidates for the Demo at Sea Program and Early Adopter Program 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 $10 million per year
Product Stage: New product with zero sales and the following technology readiness levels (refer to this page for level descriptions):
§ Demo at Sea Program: Levels 5-7
§ Early Adopter Program: Levels 7-9
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
For more information, contact Shelley
Hessian via email or by phone
at 902.424.8670 ext. 1123 or 1.800.565.7051 (Toll Free in Atlantic Canada).