Yara Marine Technologies has announced its new corporate accelerator program, Yara Marine X, a start-up competition aiming to provide a home for technology and solutions that will contribute to a greener maritime industry.
“Our corporate mission is to nurture the next generation of high value, high performance sustainable ocean technologies,” says Yara Marine CEO Thomas Koniordos. “With this new program, we are seeking to position Yara Marine in the global start-up space while developing new opportunities for the company.” He relates that the long-term goal for the program is to integrate new ideas into the Yara Marine’s business.
The competition is designed to attract mature start-ups looking for partners and investors. “We will be recruiting young companies or professionals with a focus on sustainability and green solutions within vessel operations,” says YMT Strategy Business Development Manager Thomas Gabestad. “Candidates will need to be adjacent to what we do in order to enhance our corporate performance as a whole and help us to build on our strong brand.”
The winner will enter a bootcamp orientation of 2 weeks, followed by 6 months in a tailored accelerator program. The program includes office space, a USD 10,000 up-front stimulus grant, potential later-stage investment from Yara Marine, and access to the company’s mentors, network and facilities. Piloting and distribution opportunities with Yara Marine customers, suppliers and network are part of the longer-term plan.
Gabestad notes that target sources include ocean and maritime clusters, incubators, universities, various maritime programs, and the global start-up media. Key markets for the new technologies will be Asia, the Americas, and Europe. “The winning candidate will take up residence at our Headquarters in Oslo,” he says.
Applications start on Tuesday, 1st of September at yaramarinex.com and end October 11th, 2020. The winner to be announced on November 4th.