BlueTech | Protecting Oceans & Marine Ecosystems through Hi-Tech Solutions
In hi-tech Boston, the evolution of emerging technologies continues to unfold. As a climate tech entrepreneur, I have naturally been exposed to the markets and innovative solutions of BlueTech.
And I believe the Blue Tech economy can be helpful to Ministries of Foreign Affairs as well as Ministries of Finance as they shape innovative agendas in new emerging tech verticals. Additionally, for entrepreneurs in the environmental and marine protection innovation ecosystems, this industry has much force — with cutting edge data driven solutions for ocean monitoring and protection.
East Coast Phenomena
Boston’s Atlantic Ocean serves as a bedrock for bluetech innovation. With exciting entities like Woods Hole Oceanographic Institution, Sea Ahead, and BLUE Institute Labs, the East Coast is becoming a critical place to experiment new technologies, access venture capital, and join exciting accelerators that can support new entrepreneurs in business development and pilots.
In other parts of the U.S., some of the market and key players are also based in San Diego, California, being the West Coast launching pad for these new ocean centered technologies. Additionally, back in the East Coast, Newport, Rhode Island has shaped a competitive, growing agenda on BlueTech with the development of accelerators, entrepreneurial founders roundtables, and unique company showcases. This fuels further demand, investment, and start up growth for Blue Tech in the economy and community of Rhode Island. See here for Rhode Island’s Innovation Strategy/Economic Clusters.
Blue Tech Pain Points for Innovation
This growing industry is tackling the following types of challenges:
As one can assess, covering from aquaculture, to desalination, to underwater robotics, to even ship design, the range of blue tech is extensive. This creates a lot of space for product development and pain point map understanding. Its range is diverse stemming from marine biology environmental/management challenges to process improvement in coastal infrastructure and ecosystems.
Where may there be new markets for Procurement?
Can this market grow in the Caribbean marketplace? Can it grow in the Pacific Islands market place? For European and U.S. Companies with blue tech companies and high capital investments in R&D, potential public private partnerships and new marketplaces can evolve in Caribbean and Pacific Islands regions.
Given the demand and need given their built in environment, their current island digital transformation journeys, the BlueTech opportunities for procurement are certainly there. Just unexplored.
Further market analysis and ecosystem analysis needs to be done in these áreas for governments to procure with long-term impact.
Some áreas these regions can consider to build initial soil for Blue Tech/Trade:
- R&D in Blue Tech | Academia and National Capital Investments in R&D
- Designing a Talent Pool for BlueTech
- Accelerator Program to promote BlueTech Entrepreneurship
- Regulatory Policies/Sandboxes for BlueTech
- Local and State Government Blue Tech Know How Capacity Building
- Trade Forums/Trade Associations Convenings
- Venture Capital Forums to understanding VC Market
- Ecosystem Reports
- Delegations to BlueTech Companies/Think Tanks
- Cybersecurity Infrastructure/Data Protection
- Demo Day/Company Showcases
These are some initial foundations that can create initial soil for BlueTech based on the global leads performance activities on blue tech competitiveness.
Market Worth
BlueTech has a market worth of over $2.5 trillion USD and it is expected to grow in double quantity by 2030 according to Thomas Vorghaen, in La Jolla Light (2023).
Some Further Resources to Ecosystem
Here are some of the top 10 blue tech companies in the U.S. Market. https://www.f6s.com/companies/bluetech/united-states/co
Insight to Canada’s Globally Competitive Blue Ecosystem — https://betakit.com/report-atlantic-canada-10th-strongest-blue-economy-startup-ecosystem-globally/
Start Up Genome’s overview on top Blue Economy leads globally
https://startupgenome.com/article/global-blue-economy-ranking-top-25-plus-10-runners-up
If you’re wanting to design entrepreneurship programming, host venture capital forums, or assess the initial ecosystem, my firm has designed a brand new initial landscape assessment (blue tech ecosystem assesment) for new coming nations and trade associations for bluetech growth. We will be releasing it soon.
The assessment can fuel as an instrument to ignite the inception of an understanding to foundations and capacities to fuel this new economy.
Reach out today: gcorberaconsulting@gmail.com | Design | Innovation | Digital Transformation | Emerging Technologies