The Sustainable Ocean Alliance and its Ocean Solutions Accelerator are taking on the problems our planet's waters are facing, and the youngest cohort of companies in the latter shows a new list of problems to be addressed and resources to be harnessed. From reef rehabilitation to "Fitbit for Fishing Boats", they're trying to fix things in the oceans, or at least to mitigate the damage we're doing down there.
The Accelerator's four-week, purely virtual program (like everyone else today) focuses on the unique challenges that socially-minded companies face in this area.
"Startups in the industry are still struggling to find adequate funding in the early stages of operations," said Craig Dudenhoffer, co-founder of the accelerator, in an email to TechCrunch. "Many of the solutions (especially hardware) are expensive to manufacture and require a high upfront investment. We found that of the hundreds of applicants, only a fraction received significant investments. We believe more investors need to learn about the opportunities in the ocean sector. "
The SOA team selected nine companies for this wave, only three of which are based in the United States. "This year, despite the COVID-19 pandemic, we have seen our largest and most diverse pool of applicants to date," said Dudenhoffer in the press release in which the companies were announced. "This year's pool of applicants has particularly encouraged me to see the different types of solutions as well as the increase in the number of entrepreneurs actively developing technologies to address the critical challenges facing the ocean."
SOA founder Daniela Fernandez It has recently been found that their field of activity is particularly international. Hence, virtual management opens up many opportunities, especially for smaller businesses that cannot afford to move temporarily. "It gives you so many options and it makes it so much more comprehensive," she told me. "Everyone simply has more flexibility and calm. I think we were heading in that direction anyway. "
Here are the nine lucky companies:
- AquaAI (Norway): Development of a fish-like autonomous underwater vehicle for inconspicuous observation and inspection.
- AKUA (USA): Makes super healthy seaweed-based foods, starting with jerky and soon burgers.
- ARC Marine (UK): Helps with the protection and rehabilitation of reefs with sustainable habitat and kindergarten "Reef Cube".
- Desolenator (Netherlands): Solar powered desalination for communities with freshwater shortages.
- FlyWire (USA): Digital catch monitoring for regulatory compliance and connected trade.
- microTERRA (Mexico): Sustainable protein from Aquafarm for animal feed.
- Oceanworks (USA): Marketplace for recycled plastic from the ocean.
- PlanetCare (Slovenia): Filters to catch microfibers in washing machine drains before they enter the water system.
- Trademodo (Canada): New, comprehensive platform for ethical fish companies and supply chains.
Companies will receive the tender, loving care of all participants in the new accelerator, but potentially a bit of a harsh reality as they learn how difficult it is to be an ethical company with long-term goals in a capitalist system that demands almost instant returns . One of the most important steps in building one of these companies seems to be to overcome that demoralizing hump and see the opportunities despite the difficulties.
A demo day is scheduled for November 5th, which is good timing as nothing else is likely to happen then.
