One of the 2024 Douglas 10 to Watch winners has been awarded another prize.
Andrew Polanyi of Ocean AID was named the winner of the Fall COAST Pitchfest, presented by Seaspan.
He was one of five ocean technology startups competing for the grand prize of $10,000 provided by Pitchfest sponsor Seaspan, at the grand opening of the COAST Ocean Innovation Hub in Victoria on October 16.
They presented their innovations before a packed room full of investors, blue economy companies, government, and a panel of five expert judges from the technology and impact investing sectors.
Ocean AID is developing marine automatic target recognition (ATR) systems that enhance sonar, video, and LiDAR, providing live insights and mappings from imaging data to make informed decisions while out on the ocean. Their mission is to support ocean conservationists and stewards of coastal areas to leverage their technology to create cleaner, healthier, and safer ocean ecosystems.
Co-founder and executive director Andrew Polanyi presented Ocean AID’s innovation to a panel of illustrious judges with significant track records in entrepreneurship and impact investing.
In addition to the cash prize, Ocean AID will receive an COAST Navigator membership (value of $1,000) to facilitate their ability to collaborate, and has earned time to present their pitch at the Victoria Investment Event, held in partnership with COAST, VIATEC, and the Vancouver Island Life Sciences Association (VILS).
“What an incredible experience it was to pitch alongside such innovative ocean startups,” says Andrew Polanyi. “This award is going to make a huge impact for Ocean AID as we grow our team and bring our technology to market—it’s really an honour. Congratulations to all the other startups and to COAST for their grand opening of the Ocean innovation Hub.”
The COAST Pitchfest prize marks yet another accolade in a recent streak of success for the company: along with being a 2024 Douglas Magazine 10 to Watch Award winner, Ocean AID was announced on October 16th as one of the 16 cohort members of the pan-Canadian Ocean Startup Project’s Ocean Startup Challenge 2024.
The other B.C.-based companies vying for the top prize at Pitchfest were:
Canadian Pacifico Seaweeds, pioneering a hybrid model that merges innovative cultivation with restoration techniques to support a collaborative network of small-scale restoration-farmers in the Western Canadian Seaweed industry;
Celerity Craft, developing an advanced marine vessel technology that has the potential to significantly reduce the environmental impact of marine transportation while delivering a faster and better overall boating experience;
Fibr.Bio, making stretchy textiles recyclable by replacing traditional spandex, which isn’t recyclable, with a sustainable, recyclable natural fiber;
Miha Biotech, harnessing the power of seaweed to create bandages that remove painlessly, heal without scarring, and leave no negative impact on the environment.
Each finalist had five minutes to present their company and concept to a panel of five judges: Alicia Dubois, COO of Boann Social Impact; K Krasnow Waterman, member of the COAST Advisory Board and founder of TComplete; Graham Day, Managing Partner at Spring Impact Capital; Richard Egli, CEO of Alacrity Canada; and Rob Bennett, Chief Operating Officer and Program Director for VIATEC.
This is the second COAST Pitchfest of the year. The inaugural competition was held this April in Vancouver. Annie Dahan, founder of Seacork Studio, was awarded the $10,000 prize.
COAST Executive Director Jason Goldsworthy says hosting competitions like these is a vital part of driving innovation in Pacific Canada’s blue economy. “There are many talented entrepreneurs whose ideas could revolutionize our ocean industry. COAST Pitchfest gives competitors a chance to gain broader awareness of their work, and investors the opportunity to connect and support.”
COAST plans to host its next Pitchfest competition in the Spring.
