Applications Open for National Challenge Backing Canada’s Next Wave of Ocean Startups

Applications are officially open for the 2026 Ocean Startup Challenge, inviting early-stage Canadian ocean technology startups to compete for funding, mentorship and national support to help bring their solutions closer to market.

Up to $25,000 in non-dilutive, non-repayable funding will be awarded to as many as 15 early-stage startups, along with ocean-specific programming and access to a coast-to-coast network of mentors, industry experts and ocean innovation partners.

Now in its sixth intake, the Ocean Startup Challenge is looking for founders developing technology-enabled solutions for ocean industries — from marine transportation, fisheries and aquaculture to ocean data, environmental monitoring, coastal resilience, offshore energy and beyond.

“I’m always inspired by the ambition and ingenuity of the founders who come through this program, and I’m excited to meet the next wave of ocean startups working to build the technologies, companies and solutions our future ocean economy needs,” said Natasha Legay, Challenge Director at the Ocean Startup Project.

“Every year, we meet founders at one of the most exciting points in their journey — when they have identified a meaningful ocean challenge, started building a solution and are ready for the support that can help propel them forward. That is the moment the Ocean Startup Challenge is built for. We help early-stage startups turn momentum into progress through funding, mentorship, market validation and connections across Canada’s ocean innovation ecosystem.”

Since 2020, the Ocean Startup Challenge has become a proven launch point for early-stage ocean technology companies, supporting 102 startups from across Canada and distributing $2.95 million in non-dilutive funding. Participating companies have gone on to create 470+ jobs, generate $26.5 million in revenue, raise $44.4 million in follow-on investment and secure more than $51.4 million in additional non-dilutive funding. For many founders, the Challenge provides the early capital, mentorship, market validation and ecosystem connections needed to move from promising technology to commercial momentum.

The Challenge is open to pre-revenue Canadian companies, including those with pilot revenue, that have raised $250,000 or less in investment, have fewer than 10 full-time employees and are at Technology Readiness Level 6 or lower.

Selected startups will take part in programming from August 2026 to February 2027, including monthly meetings with an Executive-in-Residence, mentorship, support from an assigned Ocean Ecosystem Navigator, workshops and networking opportunities. Teams will work with the Ocean Startup Project to advance milestones related to customer discovery, product development, intellectual property strategy and business growth.

Applicants will be asked to submit an application and a short video outlining their startup, the problem they are solving and how funding would support their next milestone. Applications close July 26, 2026. Shortlisted applicants will be announced on August 7, 2026, with winners announced on August 25, 2026.

Prospective applicants can learn more and apply at www.oceanstartupproject.ca/challenge.