Funding Granted to StartBlue Initiative to Support and Develop Marine-Oriented Entrepreneurial Ventures
The startBlue program, a new ocean-focused accelerator, is set to launch at the University of California San Diego (UCSD) this fall, aiming to foster growth in ocean intelligence startups. This innovative program is a collaborative effort between the Rady School of Management and Scripps Institution of Oceanography at UCSD.
The program's focus is on supporting ocean intelligence startups, providing a hub for innovation in ocean-related technologies and entrepreneurship. By combining the entrepreneurial expertise of the Rady School of Management with the oceanographic expertise of Scripps Oceanography, startBlue offers a unique support system for startups across the growth continuum, from early-stage companies to small and medium-sized businesses.
The primary purpose of startBlue is to accelerate the development and scaling of ocean intelligence startups. This comprehensive support system includes weekly workshops, one-on-one mentoring from industry experts, and facilitated access to potential partners, investment, and customers. The program aims to support innovations that align with the blue economy, focusing on ocean data and intelligence solutions.
StartBlue benefits from significant funding and partnerships. The U.S. Department of Commerce is investing $35 million in 2020 to fuel high-growth entrepreneurship across America. Locally, the Economic Development Administration's "Industry Challenge Award" is providing $328,542 through its Build to Scale program to startBlue. Additionally, startBlue received a local match of $328,542 donated by members of the Scripps Director's Council and other philanthropic supporters.
The startBlue program will be based at Scripps, which has extensive marine facilities. Scripps Oceanography, a partner in the startBlue program, is one of the world's most important centers for global earth science research and education. It offers unparalleled education and training for the next generation of scientific and environmental leaders through its undergraduate, master's, and doctoral programs.
Ten final teams will be selected to start the eight-month accelerator program in the fall of 2021. The startBlue program will also be affiliated with non-profit Ocean Visions, connecting new ocean startups to a national network of leading oceanographic institutions.
Scripps Oceanography operates a fleet of four oceanographic research vessels and is home to Birch Aquarium at Scripps, the public exploration center that welcomes 500,000 visitors each year. The startBlue program is the sixth accelerator launched in eight years by the Rady School's StartR program.
Other partners of startBlue include the Port of San Diego and its Blue Economy Incubator, the U.S. Coast Guard Blue Tech Center of Expertise, the National Defense Industry Association, AIIM Partners, TMA BlueTech and its Blue Tech Incubator, California Sea Grant, the Brink Small Business Development Center, Alta Sea at the Port of Los Angeles, and the San Diego Military Advisory Council.
The startBlue program is expected to grow the region's Blue Economy by facilitating the translation of ocean science and technology intellectual capital into new startups. Applications from San Diego science and engineering early-stage startups will begin to be accepted in the spring of 2021. With its launch, startBlue promises to be a significant catalyst for innovation and growth in the ocean technology sector.
The startBlue program, amidst its Oceanographic research, also seeks partnerships in Finance to secure funding for ocean intelligence startups. To support the continued growth and development of these startups, they plan to leverage Technology in their upcoming educational-and-self-development workshops.
