Blue Economy Innovation Grows in APAC with OUR Third Accelerator Cohort
Press release for immediate distribution
SYDNEY, 28 August 2024
Blue Economy Innovation Grows in APAC with Ocean Impact Organisation’s Third Accelerator Cohort
Five startups scaling solutions to improve ocean health join Ocean Impact Organisation’s (OIO) 2024 Accelerator Program to enhance innovation in the sustainable blue economy.
Continuing in their efforts to accelerate innovation and create positive ocean impact in the blue economy, Ocean Impact Organisation (OIO) has today revealed a new cohort of startups with groundbreaking solutions to improve the health of Planet Ocean.
The five startups from three countries (Australia, New Zealand and Chile) will work closely with OIO for the remainder of 2024 to hone their offering and expand their reach into key markets in the Australia and Asia-Pacific Regions.
The announcement of OIO’s next wave of ‘oceanpreneurs’ comes as the Federal Government releases its 2024 draft Sustainable Ocean Plan, which will shape how Australia manages its diverse ocean estate to 2040.
In 2021, Australia’s blue economy:
supported 462,000 jobs
contributed $118.5bn to the economy, growing from $81.2bn in 2018.
The growth of Australia’s marine industries looks positive on paper, but this belies the true state of the blue economy.
The largest increases in economic output are dominated by offshore fossil fuel projects - which contributed $53.2bn to the economy in 2021
While tourism and recreation, the second largest contributor, provided $24.6bn in 2021.
The unfortunate irony is that climate change impacts from the burning of fossil fuels, and the continued deterioration of ocean ecosystems from industrial impacts, are placing tourism destinations like the Great Barrier Reef at immense risk.
Climate change is the primary threat to Australia's Great Barrier Reef, followed by water quality issues resulting from run-off from industrial, agricultural, and urban land activity.
OIO’s third cohort continues the success of its Ocean Impact Accelerator Program which has invested in 12 startups from five countries since 2022. A notable evolution in the program this year is an emphasis on solutions to Food Security and Overfishing and a greater focus on startups seeking opportunities in Australia, New Zealand, and the broader Asia Pacific region. This aligns with OIO’s strategy to “support the global ocean health innovation ecosystem, whilst strengthening the organisation’s role in APAC”.
““This cohort of exciting startups and critical solutions represents the continued evolution of OIO and our programs,” said Nick Chiarelli, CEO and Co-founder of Ocean Impact Organisation. “By supporting these startups and providing them valuable access to industry partners and customers in the region, we are accelerating their commercialisation journey and helping them contribute to the sustainable blue economy.””
The strategic focus on the APAC region has shaped a number of collaborative partnerships between OIO and blue economy stakeholders in 2024, including:
Blue Economy Cooperative Research Centre (BECRC, Launceston)
ForBlue (Perth)
Moananui (Auckland, NZ)
The latter partnership with Moananui helped OIO secure two exciting startups from New Zealand for the program: Ocean Intelligence and Pinpoint Earth.
Ocean Intelligence harnesses the power of data in aquaculture to increase productivity and sustainability, whilst Pinpoint Earth revolutionises seafood traceability, enhances operational efficiency, tackles illegal fishing, and improves safety at sea.
““Being one of the first NZ startups accepted into OIO’s accelerator is a great privilege for us,” said Joel Bowater, General Manager of Ocean Intelligence. “This partnership is a testament to our vision for advancing marine farming, we are looking forward to the journey ahead and collaborating towards a lasting global impact.””
The five startups and their solutions are (in alphabetical order):
AQUIT | Viña del Mar, Chile: Biotech solutions for sustainable aquaculture
Blue Carbon | Brisbane, Australia: Helping businesses partner with nature
Ocean Intelligence | Nelson, New Zealand: Data-driven solutions for marine farmers
Pinpoint Earth | Nelson, New Zealand: Revolutionising seafood traceability
Washbox | Sydney, Australia: Closed-loop tool wash technology
With “all eyes” on the ocean as Australia’s first Sustainable Ocean Plan seeks feedback and submissions (consultation closes 13 September 2024), OIO and the startups it supports are calling for a greater focus on the powerful role innovation can play in Australia’s blue future. Whether that’s incentivising and supporting existing industries to embrace innovation, or, stimulating new industries to help achieve biodiversity and net-zero targets.
““There are a lot of parallels between the solutions in our new cohort and the details in the draft Sustainable Ocean Plan,” said Elisa-Marie Dumas, Head of Global Programs at OIO. “It’s clear that existing industries need real-world solutions to help meet targets and reduce their impact. This cohort has the potential to make a tremendous impact in our solution areas of: Ocean Pollution, Food Security, Climate, and Habitat & Biodiversity.” ”
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For press enquiries please contact:
Tim Silverwood
Head of Marketing and Community
info@ocean-impact.org
About OIO
Ocean Impact Organisation (OIO) helps startups make their greatest impact through funding and growth opportunities. Headquartered in Australia with a focus on the Asia-Pacific, our commercialisation programs and support initiatives accelerate the best solutions to transform ocean health.
At the forefront of the ocean health innovation ecosystem, OIO is passionately driving impact and investment into the rapidly emerging sustainable blue economy. Visit the website for more information: ocean-impact.org
