PhyCo Brings Home Top Prize in Ocean Idea Challenge
British Columbia/Prince Edward Island-based team, PhyCo, has been selected to receive the top prize of $10,000 in the first-ever Ocean Idea Challenge presented by the Ocean Startup Project.
This startup project is a national organization set on making Canada one of the best places to start and grow an ocean venture. The program was a four-week, completely immersive discovery process that allowed the teams the chance to prove market interest for their sustainable ocean ideas.
PhyCo will use the funding to continue the development of a biodegradable and non-toxic bioplastic from seaweed. The project will be worked on in partnership with Indigenous Nations in B.C. for the growth of seaweed. Teammates for PhyCo from P.E.I. and B.C. actually met and collaborated during the challenge, connecting the project between coasts.
Three other teams also took home prizes. B.C.-based OnDeck Fisheries AI also scored the top prize, while Newfoundland-based Seathru Technologies and Nova Scotia-based Sustainable Sea Products will receive $2,500 each.
The Ocean Idea Challenge was created to fill a gap in the ocean ecosystem by connecting aspiring entrepreneurs with potential co-founders and team members. PhyCo finding teammates during the challenge embodies this mission.
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