The Ocean Exchange Solutions Review Team evaluates the applications and narrows the field to 50 semi-finalists and then to 24 finalists who travel to the Ocean Exchange event to present their solution in person. All finalists companies meet the required Technology Readiness Level (TRL), a method used to measure and assess the maturity of a particular technology. Ocean Exchange also provides a description of the five levels of innovation as part of the Ocean Exchange Award nomination process.
Each finalist for the Neptune, Wallenius Wilhelmsen Orcelle®, and Transportation Hubs award makes a fifteen-minute presentation to Delegates attending the event, followed by questions from members of the Solutions Review Team. On the final day of the event, each finalist delivers a summary of his/her presentation in a Lightning Round. The Delegates, representing business, academia, government, and non-profits, select the three monetary winners based on their presentations at Ocean Exchange.
Awards were conferred at the conclusion of Ocean Exchange 2023.