Organizations supporting the ocean economy in Atlantic Canada are working to increase equity funding for oceantech companies, and they’re heartened by the growth of international funds targeting maritime innovation.
Malcolm Fraser, CEO of Innovacorp, said during the recent pitching competition at Start-Up Yard at COVE that he’s been in touch with several funds that focus on oceantech. He believes Atlantic Canadian companies are on their radar.
The discussion about funding in the ocean sector is meaningful because the region’s oceantech companies so far have attracted little equity capital.