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Ocean Startup Project helping P.E.I. grow number of ocean tech businesses

P.E.I. BioAlliance
P.E.I. BioAlliance - Contributed

The P.E.I. BioAlliance is looking to help grow the number of ocean industry startups across the region. 

The company was introduced as P.E.I.’s representative in the Ocean Startup Project, a $6.8-million partnership among companies in Atlantic Canada’s ocean industry, on Feb. 21. The project intends to nurture homegrown startups, attract new companies to the region and increase high-quality startups' ability to get their technologies to market faster. 

Its key partners include the P.E.I. BioAlliance, Genesis, Innovacorp, New Brunswick Innovation Foundation, Creative Destruction Lab and Springboard Atlantic. 

Rory Francis
Rory Francis

Rory Francis, CEO of P.E.I. BioAlliance, said his company is looking forward to connecting Island researchers and startups through the project, no matter what aspect of ocean industry they’re targeting. 

“The entire region is collectively investing millions to support entrepreneurs and companies that are developing technologies that have commercial potential across the full range of ocean industries."

Matthew MacKay, minister of economic growth, tourism and culture, said P.E.I. already provides a strong support system for technology startups.

“The Ocean Startup Project will provide additional opportunities to move those technologies to commercial success," he said.

The project’s funding includes over $4.4 million from the government of Canada and up to $2.4 million in cash and in-kind contributions from provincial governments and other partner organizations.

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