Investment will help to build blue economy solutions, synergy and trade through partnership
As ocean nations with more than 260,000 kilometres of combined coastline, Canada and the United Kingdom share a deep understanding of the blue economy and its potential. Ocean sectors represent highly skilled jobs, clean energy solutions and economic growth.
Today, the governments of Canada and the United Kingdom (UK) launched a competition that will help solve ocean technology challenges by connecting innovators from both sides of the Atlantic.
Support to generate partnerships, tech solutions and trade
The Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA, announced a non-repayable contribution of $275,000 for the Ocean Technology Council of Nova Scotia (OTCNS) to support the competition in Canada. Innovate UK is also providing $275,000 for the competition in the United Kingdom.
The investments will help bring Canadian and UK small and medium-sized enterprises together to compete in this new ocean tech innovation challenge . Through the competition, transnational teams will work together to develop ways to help uncrewed vessels better navigate the ocean. Two winning teams will each receive $250,000 CAD to implement and demonstrate their proposals. The competition will help create industry-advancing solutions and grow trade through partnerships between ocean tech innovators.
Today’s announcement further demonstrates the Government of Canada’s commitment to harnessing the growth potential of the ocean and the blue economy.
“This investment taps into the infinite potential of Canada’s ocean tech ecosystem and strengthens it through collaboration with innovators in the United Kingdom. The partnerships that emerge from this competition will lead to powerful solutions for some of the sector’s biggest challenges, while advancing trade and spurring jobs and growth. This is exactly the type of work that will help us build back better—and bluer.”