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World-class ocean technology sector strengthens Atlantic Canada’s economy

News release

Ocean start-up companies to develop new technologies, create jobs in the region with the help of the Government of Canada February 12, 2020 – Dartmouth, NS – Atlantic Canada Opportunities Agency Ocean technology is part of the broader oceans sector, which has long been a significant source of value to local and international economies. With the natural advantage of having one of the most abundant ocean resources in the world, Atlantic Canada’s ocean sector is thriving with small and medium-sized companies in the ocean startup ecosystem generating new technologies, clean resources, and good middle-class jobs. Innovating Atlantic Canada’s ocean economy Today, three Nova Scotia-based organizations announced they are undertaking new projects to further the momentum in the ocean sector, bring new employment to the Greater Halifax area and strengthen Canada’s position as a global leader in sustainable ocean practices. The work undertaken by DeNova Inc., the Centre for Ocean Ventures & Entrepreneurship (COVE) and Sedna Technologies Inc., will result in the development of new products and technologies, solutions to industry labour gaps, and enhanced viability and sustainability in Canada’s ocean economy. Federal investments for growth and momentum The Honourable Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for South Shore – St. Margarets, today announced Government of Canada contributions totaling $1,275,502 to the three projects. Darren Fisher, Parliamentary Secretary to the Minister of Health and Member of Parliament for Dartmouth – Cole Harbour, also participated in today’s announcement. This announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, and the Honourable Navdeep Bains, Minister of Innovation, Science and Industry. Funding for these projects is being provided through the Atlantic Canada Opportunity Agency (ACOA) and the National Research Council of Canada’s Industrial Research Assistance Program (NRC IRAP), which help small and medium-sized businesses take their ideas to market, driving growth through innovation and technology. These investments support commitments made by the Government of Canada and its partners in Canada’s Ocean Supercluster and continues to build on the objectives of the Government’s Innovation and Skills Plan and the Atlantic Growth Strategy.

Quotes “Strong regional economies are essential for Canada’s success and sustainability. Our regional development agencies are there to help businesses and innovators grow, succeed and create good jobs for Canadians. Our government is making investments that will enable communities and businesses in all regions of the country. This will help our vibrant communities big and small reap benefits while showcasing Canada’s brand, centred on shared values of diversity and equality.” – The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA “The ocean is a new economic frontier. In a little more than a decade, the global ocean economy is forecasted to double in size and create tremendous new employment opportunities, innovations and economic growth. Our government recognizes this huge potential and we are proud to support businesses that are developing real, sustainable solutions that can create prosperity for years to come.” – The Honourable Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for South Shore – St. Margarets “More than half of Canada’s $30-billion ocean economy and 350,000 jobs are anchored in Atlantic Canada.Encouraging the continued growth of Atlantic Canada’s ocean technology sector helps Nova Scotian entrepreneurs and companies grow, succeed and provide good jobs here at home.” – Darren Fisher, Parliamentary Secretary to the Minister of Health and Member of Parliament for Dartmouth – Cole Harbour The Nova Scotia Innovation Hub is committed to building a more prosperous and sustainable future by fostering innovation in the oceans, forestry, solid waste, and agriculture sectors. We are proud to partner with ACOA and the National Research Council to support the scale up of DeNova’s sustainable protein production. Their innovative business model is well-aligned with our goal of creating real value in Nova Scotia through the growth of leading edge, bio-based businesses. This is a great day for the growing bioeconomy in Nova Scotia, and we are looking forward to working with DeNova on this exciting project. – Rod Badcock, Executive Director Nova Scotia Innovation Hub “Many graduates are building their futures in Nova Scotia, and their new perspectives and innovative ideas help businesses grow and succeed. This internship will expose students to the unique career opportunities in our province’s oceans sector, and will show employers the value that young people can bring to their organizations.” – The Honourable Labi Kousoulis, Nova Scotia Minister of Labour and Advanced Education “We appreciate the support that ACOA, NRC, and the Nova Scotia Innovation Hub are providing DeNova, and their belief in our team and our technology. We believe that DeNova’s sustainable protein can become a significant global player in the expanding alternative proteins market and will contribute to the sustainability of our oceans and more environmentally sound aquaculture practices.” – Brianna Stratton, Chief Executive Officer, DeNova Inc. “The ocean technology sector in Nova Scotia is thriving. New companies like DeNova and SEDNA are launching and scaling quickly, and long-standing ocean technology companies are growing new export markets and hiring talented Nova Scotians. COVE is pleased to be working with ACOA and the Nova Scotia Department of Labour & Advanced Education to bring needed new employees and entrepreneurs to this growing sector of the economy through enhanced youth training, mid-career transition planning and through attraction of new residents to the region.” – Jim Hanlon, Chief Executive Officer, Centre for Ocean Ventures and Entrepreneurship “Having support from ACOA allows us to invest the time and resources we need in order to bring our innovations to market as well as further advance our R&D and identify ways in which we can improve our ocean economy locally and globally.” – Sheamus MacDonald, Chief Executive Officer, Sedna Technologies Inc.

Quick facts

  • Ocean technology focuses on creating or providing technologies for marine applications above and below the water and is a vital contributor to Atlantic Canada’s economy, providing more than 350,000 jobs in the region and supporting more than half of Canada’s $30-billion ocean economy.


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