A Victoria-based technology startup focused on marine conservation emerged victorious at COAST Pitchfest competition, securing a $10,000 prize for their innovative ocean imaging system.
Ocean AID, which develops automatic target recognition systems that enhance sonar, video, and LiDAR technology, topped a competitive field of five ocean technology startups at the grand opening of the COAST Ocean Innovation Hub in Victoria on Oct. 16.
The company's technology provides live insights and mappings from imaging data, designed to support ocean conservationists and coastal area stewards in their efforts to maintain healthier marine ecosystems.
Co-founder and executive director Andrew Polanyi presented to a packed room of investors, blue economy companies, government representatives, and a panel of five judges.
"This award is going to make a huge impact for Ocean AID as we grow our team and bring our technology to market," said Polanyi.
The win adds to Ocean AID's recent successes, including recognition in Douglas Magazine's 10 to Watch Awards and selection for the Ocean Startup Challenge 2024.
This marks the second COAST Pitchfest of the year, following an inaugural competition in Vancouver last April.
"COAST Pitchfest gives competitors a chance to gain broader awareness of their work, and investors the opportunity to connect and support," said COAST Executive Director Jason Goldsworthy.
Beyond the cash prize sponsored by Seaspan, Ocean AID received a COAST Navigator membership valued at $1,000 and secured an opportunity to present at the Victoria Investment Event, organized in partnership with VIATEC and the Vancouver Island Life Sciences Association.
The competition featured four other finalists:
- Canadian Pacifico Seaweeds, developing restoration-farming techniques for the Western Canadian Seaweed industry;
- Celerity Craft, working on advanced marine vessel technology;
- Fibr.Bio, creating recyclable alternatives to spandex; and
- Miha Biotech, developing seaweed-based medical bandages.
