Ocean Technology Enterprise Centre

The Ocean Technology Enterprise Centre, located in the new NRC Industry Partnership Facility in St. John's, Newfoundland, is a place for ocean technology companies to develop their technology and business opportunities in a supportive and cooperative environment.

The mission of the NRC Ocean Technology Enterprise Centre is to promote the development of ocean technology business in Newfoundland by:

Providing a supportive environment to assist the growth and development of new ventures in ocean technology

and:

Providing co-location facilities to assist collaborative activities between NRC researchers and ocean technology companies and organizations.

Mad Rock Marine Solutions Inc. is manufacturing and marketing its innovative lifeboat release mechanism.

To achieve its mission the Ocean Technology Enterprise Centre (OTEC) has two programs: the Young Entrepreneurs Program (YEP) and the Ocean Technology Co-location Program .

The Young Entrepreneurs Program is directed at new graduates of engineering, science or technology programs who are starting or contemplating starting new ocean technology enterprises. The purpose of YEP is to remove many of the obstacles to success that face startup companies. Applicants to the Young Entrepreneurs Program are assessed on the basis of their potential for successful development and commercialization of their technology. Successful applicants are provided with mentoring, coaching, space and financial assistance. NRC personnel provide technical support and assistance and Memorial University's Gateway program and Genesis Centre provide the business coaching and support needed by the new companies.

The Ocean Technology Co-Location Program is directed towards ocean technology companies that can benefit from co-location with the Institute for Ocean Technology (IOT). These companies are either engaged in collaborative activities with IOT or use IOT facilities and expertise in the development of their technology or prosecution of their business. These tenants can locate all or a portion of their operation within OTEC and normally pay commercial rates for space and services. They can also rent shop and laboratory space that is either surplus to IOT operations or can be made available through some reallocation of resources.

Facilities

OTEC is housed within NRC's new Industry Partnership Facility (IPF) on the campus of Memorial University. The tenants have access to meeting rooms, audiovisual equipment, copiers, and telephone and computer connections. Space may also be available in the shops and laboratories for use by the tenants.

The Centre is strategically located in close proximity to the Institute's research offices, facilitating interaction and collaboration between tenants and researchers.

Housed on the first floor just below OTEC is the Canada Institute for Scientific and Technical Information (CISTI), an invaluable resource for companies needing leading edge information services related to ocean technology. 

Also housed in the same complex is the Newfoundland headquarters of the NRC Industrial Research Assistance Program (IRAP). This office has highly skilled and experienced Industrial Technology Advisors who can provide the tenants with technical and business advice. Companies may also apply for financial assistance under various IRAP programs.

The Centre is located adjacent to the Faculty of Engineering and Applied Science and within a short walk of the Genesis Centre and the Faculty of Business, which houses Gateway and the P.J. Gardiner Institute.

Jetlev Development Corporation is perfecting a personal propulsion device that enables a rider to fly at up to 35 mph.

Organization

OTEC is part of the Institute for Ocean Technology. Its manager reports to the IOT Director General and is responsible for day-to-day operations. The manager is the tenant's primary point of contact and is responsible for negotiating occupancy agreements, ensuring that the required services are available to the tenants and arranging access to technical expertise, shops and research facilities.

OTEC is part of the Campus Incubation Consortium, a larger community of incubation and industrial support in and around the campus of Memorial University. Memorial University and NRC work together in the operation of the Young Entrepreneurs Program. Potential clients can come directly to OTEC or access the program through Genesis, Gateway or the NRC Industrial Research Assistance Program. The Genesis Selection Board, with input from NRC and Gateway, determines the suitability of applicants on the basis of the eligibility criteria. The successful candidates receive business coaching through Gateway and technical coaching through NRC.

Financial support is provided to successful applicants to the OTEC Young Entrepreneurs program. The amount of financial support depends on availability of funding but will not exceed $36,000.00 per year.

On an annual basis the Genesis Selection Board assesses the growth and development of the companies to determine their suitability to remain in the program and if they are ready to graduate from the OTEC Incubator to become a Genesis client or to strike out on their own.

Virtual Marine Technology Inc. provides high quality marine training simulators that are customized to its clients' requirements.

OTEC Young Entrepreneurs Program

The purpose of the program is to provide support to young entrepreneurs to develop potentially marketable ocean technology ideas to the point where they are ready to:

• Enter a conventional business incubator
• Go out on their own
• Abandon the idea

Support provided to the young entrepreneurs:

• Space in the new OTEC Centre
• Financial support
• Access to business and marketing support and mentorship
• Access to technical support and facilities
• Potential access to additional sources of financial support

The program is available to individuals or groups:

• Who are recent graduates from engineering, science, or technology programs of at least 3 years duration
• With ocean technology ideas that are sufficiently developed to allow a preliminary assessment of their potential
• With ocean technology ideas that are deemed to have reasonable potential for commercial success

An advisory committee will review the applicant's proposal. If this review is favorable the proposal will be submitted to the Selection Board of the Genesis Centre which will make the final decision on admission.

OTEC Co-location Program 

Organizations who best meet the following criteria are eligible to rent available space within the Ocean Technology Enterprise Centre.

• The company is engaged in the field of ocean technology development.
• The company or group is engaged primarily in pre-commercial activities.
• The development activity will benefit from close association with the research program and access to NRC-IOT facilities and expertise.
• The company is engaged or is likely to become engaged in collaborative research activities with NRC-IOT.
• The activities of the company are complementary to the mission of the Institute for Ocean Technology.

The rate structure for rental of space is flexible with preferred rates for companies who best meet the eligibility criteria and are at an early stage in the development of their technology and markets. Where preferred rates are offered, the rate will increase over time to encourage movement from the IPF to commercial rental space as the business matures.

For more information contact:

Noel Murphy
National Research Council, Institute for Ocean Technology
P.O. Box 12093, St. John's Newfoundland, A1B 3T5
Phone: 709-772-4939, Fax: 709-772-2462
E-mail: noel.murphynrc-cnrc.gc.ca