Island spotlight: Ocean AID

Plus, one last day to apply for up to $10 million in non-dilutive funding.

Welcome to this week’s Midweek Memo. In this issue, learn about how local experts are reading the stars, get one last shot at funding your next cleantech venture, and discover what’s next in fintech from Victoria leaders.

Now onto today’s briefing. It’s 610 words: a three-minute read.

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Island spotlight: Ocean AID

Did you know that there are over a thousand vessels sitting along the ocean floor in B.C.?

Once you get past the temporary dream of retiring off the spoils of your treasure hunting (thanks, Fool’s Gold), it’s actually quite a depressing thought. Aside from the potential loss of life from all those sunken ships, that’s also a whole lot of waste sitting at the bottom of the ocean, leaching chemicals into the water.

Ocean AID decided to do something about it. Based in Victoria, the company uses sonar and AI to detect sunken underwater objects—in particular, ghost fishing gear that kills marine life and breaks down into ocean macro plastic.

Recently, Ocean AID put their Automatic Target Recognition system to the test to find some of those thousand-plus vessels. Using sonar from Imagenex Technology, Ocean AID set out to see if they could detect to long-abandoned ships off the coast of Sidney, B.C.

📰 More Victoria innovation news

✨ In a sky full of stars: Astronomers from the University of Victoria have learned more about star formation from a region called the Cosmic Cliffs.

👐 If this is my last night with you: The BC Centre for Innovation and Clean Energy (CICE) reminded potential applicants that tomorrow is the last day to apply for its July 2024 Call for Innovation for products in low-carbon hydrogen, battery technologies and energy storage, and low-carbon bio and synthetic fuels.

👀 What’s going on: Craig Attiwill, CEO of Peloton Technologies, sat down for a fireside chat with Ryan Grundy from Payments Canada to discuss the future of cash and fintech partnerships.

🕴️Tech jobs of the week

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