Blue w(AI)ve Accelerator

Scientist-in-Residence

from the Gulf of Maine Research Institute

Imagine having a scientist and industry expert by your side, dedicated to advancing your product-market fit like never before. With the Gulf of Maine Research Institute's esteemed Scientist-in-Residence, you'll gain access to blue economy research, expertise, and networks, propelling your innovations to new heights. This partnership mirrors the success of our BlueTech Boost model, ensuring your progress will be nothing short of remarkable.

Investor-in-Residence

from Bold Ocean Ventures or partner venture funds

Funding is the lifeblood of innovation, and our Investor-in-Residence draws from a team of our venture capitalist partners ready to guide you towards your growth. Tap into 30+ years of early-stage venture investment to fuel your projects, attract investments, and scale your vision. With their investment expertise, your ideas will find the support they deserve, unlocking new horizons of possibility.

AI-in-Residence

from The Roux Institute at Northeastern University

The Roux Institute at Northeastern University's AI-in-Residence program is your ticket to unlocking the immense potential of artificial intelligence, machine learning, and/or data science in your business. Each team will embark on a transformative AI consulting project valued at up to $25,000. The Roux Institute's expert AI consulting team will guide you in shaping your AI roadmap, harnessing the power of AI to drive innovation, efficiency, and competitiveness.

Blue w(AI)ve is relevant for businesses in the following sectors:

• Seafood: Solutions that enable the production, traceability, and marketing of fish, kelp, shellfish, and under-utilized species.
• Climate Change: Technologies offering solutions in the areas of ocean-related carbon reduction, sequestration, adaptation, and mitigation.
• Ocean Data: Hardware and software innovations that improve operations, forecasting, and decision-making for ocean-based users.
• Sustainable Oceans: Solutions that monitor water quality, improve ecosystem health, and protect coastal access and infrastructure.
• Ocean Energy and Shipping: Software, data, monitoring, analysis, and services related to the implementation of renewable energy sources in the region.
• Other Ocean Products: Products and technologies sustainably derived from ocean resources with broader applications.

Curriculum

Each of your resident experts will work with you in a personalized way to enhance your technology, AI, and business model, all with the goal of moving you closer to investment. To complement the 1-on-1 sessions and AI consulting work, the curriculum will also include a series of weekly workshops on topics ranging from early-stage fundraising stack, climate data deep dive, and impact strategy and management led by GMRI, Bold Ocean Ventures, and The Roux Institute. We will also have weekly office hours and monthly full-team check-ins to help keep you on track!

Schedule

This program will be conducted as a hybrid model. All companies will be required to come to Portland, Maine for the initial week for a full schedule of in-depth program work and we will then move into virtual programming. The time commitment for the virtual programming is on average five (5) hours per week. The final week of the program we will bring founders back to Maine to wrap up the program and for their showcase event.

Travel stipend

Founders will be provided with travel stipends to cover the two required weeks of in person programming. If desired and at the company's own expense, founders are invited to stay in Portland for the full duration of the program and will have access to the Roux Institute facilities during the full program period.

FAQs

Do I need to already be using AI in my business?

• No! We look for companies who are (a) already leveraging AI/machine learning/ data science OR (b) want to use AI/machine learning/data science, see an opportunity for it, and have a technical founder who can take the lead on implementation.

What is the eligibility criteria to apply?

• Two or more founders with at least one at full-time
• Pre-seed to Series A investment stage and anticipating a capital raise in the next 12 months
• Products or services in the blue economy with evidence of product market fit and scalability
• Relevance or connection to the Gulf of Maine blue ecosystem (can be an international company, but must have technical relevance, potential for customers, etc.)
• AI, machine learning, and/or data science are integral to the product development roadmap

What does the selection process look like?

• Companies submit an initial application online. We review those applications and schedule two rounds of due diligence interviews. The first round is a general business /investment interview, followed by a technical deep dive with the most promising companies. Once we have narrowed down applications, we select seven (7) companies for the cohort.

What is the time commitment of the program?

• Once awarded, companies will be expected to commit a few hours of time (virtually) prior to the official start of the program. The purpose of these phone calls is to meet with the AI Solutions Hub team and scope and confirm the specific consulting project together. This allows the project team to hit the ground running in the first week.
  
  Once the program begins, companies will be required to come to Portland, Maine for the initial week for a full schedule of in-depth program work. We will then move into virtual programming. The time commitment for the virtual programming is on average five (5) hours per week. The final week of the program we will bring founders back to Maine to wrap up the program and for their showcase event.

Is there funding associated with the program?

• We do not provide any grant or equity funding as part of the program. We will, however, provide travel stipends for the two required visits to Portland, Maine for the program. Additionally, you will have direct access to early-stage venture capitalists, so while there is no guarantee of funding, this program does open doors to investors!