Elevating Blue Tech: Increasing Awareness and Driving Growth - Ocean Central

Despite its significance, blue tech is often unrecognized, blending into categories such as AI or biotech. Understanding why blue tech is overlooked and how to shift that narrative is key to driving greater awareness, investment, and innovation.

Defining Blue Tech: A Diverse and Impactful Sector

Blue tech refers to innovative and sustainable ocean practices that often leverage advanced technologies. While the blue economy encompasses all economic activities related to the ocean, blue tech is specifically focused on solutions that regenerate and protect marine environments. This sector spans a wide array of industries, from data collection and renewable energy to species and habitat restoration.

The scope of blue tech is broad, encompassing solutions that vary in complexity and application. Some innovations focus on organic, nature-based solutions like using seagrass to create sustainable fertilizers, while others push the boundaries of technology, leveraging AI and robotics. Companies such as Clearbot, which develops solar-powered boats to clean waterways, and Fishcoin, a blockchain-based seafood traceability platform, highlight the spectrum of blue tech, from practical, simple tools to highly advanced technologies.

Equally diverse are the business models supporting these innovations. Blue tech applies to every sector, from business-to-business (B2B) solutions, such as those improving performance in shipping and tourism, to business-to-government (B2G) partnerships that help public authorities tackle biodiversity, coastal preservation, and sustainability challenges. At the same time, the business-to-consumer (B2C) space is expanding as citizen science gains popularity among ocean enthusiasts. Startups like Oceanium, which creates seaweed-based products for health and conservation, and Wsense, a leader in underwater wireless communication, illustrate how blue tech can serve various markets and stakeholders.

No matter the application or business model, blue tech provides a dynamic range of solutions that blend innovation with sustainability, helping to advance ocean regeneration while reshaping traditional industries.

Blue Tech’s Untapped Potential

The blue economy has been one of the fastest-growing sectors in venture capital, with a nearly 300% increase in funding over the past six years. While it remains smaller than many major sectors — climate tech, for example, attracted 16 times more funding in 2023 — blue tech is now on par with industries such as gaming, travel, and education in terms of market size and investor interest.

This surge in interest is also supported by global institutions. International organizations such as the World Bank’s PROBLUE program and the UN’s Innovation Accelerators are prioritizing ocean innovation, while the World Economic Forum’s Uplink initiative sources and promotes ocean-focused solutions. These efforts reflect a growing global commitment to advancing blue tech as a key driver of environmental and economic progress.

Further evidence of this momentum comes from public policies and global frameworks such as the Kunming-Montreal Global Biodiversity Framework, which set ambitious goals for ocean health. In 2023, investment in blue tech hit a record high, with funds like Ocean 14 Capital’s $200M investment underscoring the sector’s potential. Additionally, philanthropic support from organizations like the Schmidt Family Foundation and the Benioff Ocean Initiative is advancing research and innovation in this space.

As blue tech gains traction, its market continues to expand, propelled by the rise of ESG frameworks, evolving regulations, and a cultural shift toward sustainability. Companies such as Ecosubsea, which provides sustainable hull cleaning technology that protects marine ecosystems while improving operational efficiency, illustrate how blue tech is becoming integral to responsible business practices.

Why Blue Tech Deserves Greater Promotion

Promoting blue tech is not just about giving credit where it is due; it is about unlocking the sector’s full potential. Improved visibility and categorization will make it easier to track blue tech startups, assess their impact, and support their growth. This, in turn, will attract more investors, encourage media coverage, and raise public awareness.

However, this promotion is not an inherent function of blue tech itself but a collective responsibility of the industry’s stakeholders including investors, policymakers, and media. Only through their coordinated efforts can blue tech startups gain the visibility they need to thrive. In essence, it is the ecosystem surrounding blue tech that must work to highlight its value and accelerate its growth.

To realize this potential, the ecosystem supporting blue tech must be strengthened. This involves more than promotion; it requires concerted efforts across investment, public policies, infrastructure development, and more.

What’s Needed for Blue Tech to Thrive

Despite its growing importance, blue tech often remains overlooked. This is partly because its innovations are frequently categorized under broader fields like AI, making it difficult for investors and the public to recognize its unique contributions.

Blue tech is quietly making strides in ocean regeneration. For instance, underwater tractors and drones enhance marine life, and sustainable practices in industries such as agriculture and pharmaceuticals offer environmental and economic benefits. However, without proper promotion, these contributions risk being overshadowed.

The lack of clear categorization for blue tech creates challenges for investors, media, and the public. This obscurity limits the visibility of startups and hinders investment flow, even as the blue economy is poised to grow twice as fast as the global economy by 2030.

For blue tech to reach its full potential, a concerted effort is needed to build an ecosystem that supports innovation and growth. This includes creating specialized support organizations (SSOs) to assist startups, fostering collaboration among stakeholders, and ensuring a steady flow of funding across all stages of development.

Sustained Investment: Research has shown that sustainable ocean-based investments yield returns at least five times greater than their costs, highlighting the high ROI potential of blue tech. Yet, a critical gap exists in follow-on investments beyond the pre-seed and seed stages, which are essential for startups to scale and thrive.

Public Policies and Regulation: Decarbonization, biodiversity restoration, and ESG frameworks are driving innovation in blue tech. Effective regulations can catalyze the development of new technologies and practices that benefit both the environment and the economy.

Infrastructure Development: Advancements in ocean-related infrastructure, such as hydrogen, wind, and tidal energy, are proving to be critical to blue tech’s success. Projects like transforming sea walls into reefs, which foster biodiversity, exemplify how infrastructure can serve both functional and environmental purposes.

Ecosystem Building: “Establishing and nurturing connections across the blue economy is crucial,” says Alexis Grosskopf, founder of Ocean Hub Africa. “By fostering collaborations between entrepreneurs, investors, policymakers, and communities, we can catalyze innovation, unlock sustainable practices, and accelerate positive impacts on both the environment and livelihoods. Building these bridges to empower ocean-impact ventures will shape a more equitable and sustainable future for our oceans and our planet.”

Promotion and Awareness: Raising awareness of blue tech’s impact and potential is crucial for attracting investment and driving innovation. By collectively highlighting the successes of blue tech startups and the broader industry, we can help unlock its full potential and make meaningful strides toward a sustainable future for our oceans.

Summary: Unlocking the Future of Blue Tech

We are at the beginning of a long journey to elevate blue tech as a high-growth industry with limitless opportunities. Many tools and technologies are already in place; now it is about recognizing their potential and leveraging them effectively. By working together to better promote and highlight blue tech, we can drive significant progress in ocean regeneration and ensure a sustainable future for our planet.

“Promoting blue tech and shifting public perception to fully recognize its potential is critical to unlocking its growth and restoring our oceans,” says Alexandra Cousteau, president and co-founder of Oceans 2050.

If you are involved in blue tech or know of an innovative company in this space, the team at Wave would love to hear from you. Together, we can bring these innovations into the spotlight and ensure blue tech receives the recognition it deserves.

Credits

• With thanks to Ingrid Maurstad and Alexis Grosskop