Yara Marine Technologies, a Norway-based provider of exhaust gas cleaning systems, has announced its new corporate accelerator program, Yara Marine X.
As explained, Yara Marine X is a startup competition aiming to provide a home for technology and solutions that are expected to contribute to a greener maritime industry.
“Our corporate mission is to nurture the next generation of high value, high performance sustainable ocean technologies,” Thomas Koniordos , Yara Marine CEO, commented.
“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.
According to the company, 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,” Thomas Gabestad , YMT Strategy Business Development Manager, said.
The winner will enter a bootcamp orientation of two weeks, followed by six months in a tailored accelerator program. The program includes office space, a $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 noted 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 added.
Applications will start on 1 September at yaramarinex.com and end on 11 October 2020. The winner is to be announced on 4 November.