The StartBlue Ocean Enterprise Accelerator, a business accelerator at the UC San Diego-Scripps Institution of Oceanography and Rady School of Management, is receiving $13.5 million in federal funding to help grow the Blue Economy, the Department of Commerce and NOAA announced Dec. 9.
The StartBlue Ocean Enterprise Accelerator is one of four such programs in the nation to receive the funding. The others are located in Chicago, Florida and Massachusetts.
“This program is the first of its kind at NOAA,” NOAA Administrator Rick Spinrad said. “We are bringing the public and private sectors together to create sustainable business models, for technologies, products and services that tackle climate resilience needs in oceans, coastal regions and the Great Lakes.”
The selected organizations are tasked with offering funding, guidance and support to assist businesses in quickly scaling up and sparking technology and service solutions such as ocean renewal energy and ecosystem services.
The funding helps kick off business and entrepreneur recruitment efforts, which are expected to begin in six-to-12 months, according to the announcement.
“American small businesses and startups are essential for creating and launching new technologies,” U.S. Secretary of Commerce Gina Raimondo said in a statement. “This program … will connect them to the funding, business support and training they need to grow and make a meaningful impact on our resiliency.”
