Early-stage acceleration program

FLOTS Acceleration Program

Global edition

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Mid-stage acceleration program

FLOTS Pro Acceleration Program

Global edition

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Areas of expertise

Smart shipping, ports and ship building

Renewable energy

Biotechnology and biodiversity

Aquaculture and sustainable fishing

Coastal and maritime tourism

Early-stage acceleration program

FLOTS Acceleration Program

Global edition

Powered by

The ocean tech sector is experiencing exponential growth, and this is just the beginning. Startup Genome reports that the Blue Economy intersects with Cleantech, AI & Big Data, Agtech & New Food, Transportation, and various other sectors. The momentum is now and there are tremendous opportunities for startups and investors to both drive change and reap substantial returns. With a projected valuation of $3 trillion by 2030, overlooking this sector is not an option.

The collaboration between Cycle Momentum, renowned for its proficiency in supporting clean technologies startups, and Novarium, known for its expertise in the blue economy field, constitutes the perfect synergy for advancing sustainable initiatives.

PROGRAM OBJECTIVES

Novarium’s FLOTS acceleration program — global edition is dedicated to blue technology startups and aims to provide essential support and expertise to entrepreneurs who have developed technologies to address challenges facing our oceans, rivers, and lakes. This new specialized program targets companies offering innovative solutions for :

  • Smart shipping, ports and ship building

  • Aquaculture and sustainable fishing

  • Renewable energy

  • Biotechnology and biodiversity

  • Coastal and maritime tourism

WHY APPLY TO THE FLOTS ACCELERATION PROGRAM?

  • A unique integration of two types of expertises: Sector expertise in the blue economy + Experts in go-to-market strategies, pricing strategies, supply chain management, financing strategies and storytelling.

  • A 360° assessment of your business at key points (beginning, middle, end) during the program, conducted by our Entrepreneurs-in-Residence and our experts, to identify your startup’s strengths and weaknesses and to adjust the program accordingly.

  • An established network of clients and partners from Cycle Momentum and Novarium.

  • Capital – up to $10,000 to support commercialization/marketing/sales initiatives from Novarium.

  • Access to the Novarium Innovation Campus in Rimouski, Canada, as well as shared office space in Toronto and Lisbon.

  • Funding opportunities through the Circle of Partner Funds.

  • The ” Green Light “, a pitch day in front of our partner investors.

  • Priority access to FLOTS Acceleration program phase 2 powered by MaRS Discovery District, North America’s largest innovation hub (If startup meets eligibility criteria).

Key dates to remember

Call for applications period

March 22nd to May 20th

Selection process period

May 23rd to June 18th

Presentation in front of a jury

Week of June 11th

(for pre-selected companies)

Launch of the 2024 cohort

Week of September 5th

ADMISSIBILITY CRITERIA

  • Have a team of at least two co-founders or be on track to have full-time employees;

  • Have an established business model based on an innovative product or service;

  • Demonstrate credible market validation (sales, pre-orders, agreement with at least one customer, etc.);

  • Have annual sales of $2,000,000 CAD or less;

  • Propose a high-tech solution, software, product or process that solves a real problem. The solution should focus on at least one of the above-mentioned aspects of the ocean economy and to have a Technology Readiness Level (TRL) 4 or higher;

  • Demonstrate potential for rapid growth and scale-up;

  • Demonstrate ability and willingness to follow a coaching program;

  • Languages: as a minimum, need to be able to interact in English.

  • If selected, the company’s founder or CEO needs to be available between the months of August 2024 and January 2025 to participate in the Acceleration cohort (virtual, approx 5-8 hours per week).

Areas of expertise

Smart shipping, ports and ship building

Renewable energy

Biotechnology and biodiversity

Aquaculture and sustainable fishing

Coastal and maritime tourism

SELECTION CRITERIA

  • Strategic fit within the FLOTS international program domains

  • Team technical, business

    • Founder-market fit

    • Execution capability

    • Skin in the game

  • Scale up potential / ‘total addressable market’, technology

  • Value Proposition

  • Product / technology competitiveness, originality, IP

  • International projection and potential application in a canadian context of oceanic economy

PHASES AND TIMELINE OF THE ACCELERATION PROGRAM

Contents of the program

We offer entrepreneurs intensive coaching over 4 to 5 months:

  • Group and individual sessions, addressing the many issues of accelerating companies, with experienced experts and business people (up to 50-60 hrs for the whole program),

  • Increased preparation to present your company and effectively communicate your message to all your contacts (sales pitch, investor pitch), including one pitch event at the end of the program,

  • Networking opportunities and targeted connections with our partners.

The coaching addresses these 4 main areas:

  1. Business model and value proposition

  2. Commercialization and marketing

  3. Financing and growth management

  4. Leadership, Management & Governance

Who are our mentors and experts?

We usually work with over 25 mentors and experts per cohort and have a network of more than 60 skilled experts.

  • Mentors are experienced former CEOs who have been in the shoes of startup entrepreneurs, asked the same questions, and faced the same challenges.

  • Experts are leaders from the industrial and corporate sectors from across North America with an impressive breadth of experience in various fields of expertise (business plan, impact, finance, marketing, governance, etc.) who provide proven advice on precise topics.

The selection process is divided into 3 phases

  1. Pre-selection on the basis of applications: a first selection will be made upon receipt of the application files. Applications will be analyzed according to the evaluation criteria, and you will receive confirmation of your pre-selection around May 28.

  2. Pre-selected candidates interviews: During the week of June 3 & 7, we will set up an interview with you to learn more about you, your team and your company, understand more about the product, the market and the competitive landscape.

  3. Pitch selection in front of a jury: shortlisted candidates will be invited for a pitch and a question and answer session in the week of June 11. An expert jury will select the 5 companies and their announcement will be made at the international edition of the Quebec Climate Solutions Festival in Montreal, June 17 & 18 2024 https://climatesolutionsprize.com/CSFQC24/

Selected startups will be invited to participate in an activity within the framework of Oceanfest 2024. A portion of the travel expenses and tickets will be covered by Novarium (Subject to change).

Dates to remember

  • Call for applications: March 22 to May 20, 2024

  • Selection process: May 23 to June 18

  • Interview period if needed: Week of june 4

  • Jury pitch: Week of June 11 (for pre-selected companies)

  • Final decision of the jury: Around June 18

  • Kick-off: week of september 5

  • Workshops and coaching: September 10, 2024 to end of January 2025 (approximately 5 hours per week)

  • The whole program will be held online, unless otherwise noted

  • Pitch day even Green Light: End of January 2025 (more details to come)

Submit your application

Application are closed

Any questions? Write to us!

campus@novarium.co

About Novarium

Novarium is an innovation campus dedicated to the blue economy and that is generating synergies between entrepreneurs, research centers, investors and industry. Its vertically-integrated accelerator FLOTS supports startups and industrial partners in the development and commercialization of sustainable solutions that tackle the most pressing climate challenges, such as ocean preservation. Novarium is also part of an international blue economy innovation network, and acts as a major catalyst for maritime knowledge with more than a hundred researchers involved in the fields of oceanography, marine biotechnology, marine engineering, data management and marine biology.

About Cycle Momentum

Cycle Momentum is an accelerator and open innovation platform that brings together an international collective of entrepreneurs, investors and innovators. Our mission is to find innovative solutions to the major environmental challenges facing humanity. As a member of the Cycle Capital platform, Cycle Momentum provides entrepreneurs with training workshops, networking sessions and mentoring, and works with large corporations to facilitate technology acquisition and integration.

To increase the impact of its programs, Cycle Momentum has brought together several local and international investment funds as part of its Circle of Partner Funds, whose members may invest in participating startups. In October 2023, Cycle Momentum also launched Origo, a climate technology investment program in Quebec. Cycle Momentum is supported by the Quebec government, Cycle Capital, Canada Economic Development for Quebec Regions, Fasken, PricewaterhouseCoopers, Export Development Canada, Investissement Québec, Power Sustainable, TELUS Pollinator Fund for a Better World, Hydro-Québec and Alice Capital.

FLOTS Pro accelaration program powered by MaRS Discovery District

More details coming soon! Website under construction.

For any questions, please contact Rodrigue Souop at campus@novarium.co