The 1000 Ocean Startups coalition has launched an Asia Pacific branch. The organization said the launch is an important step in developing the ocean health/blue economy innovation and investment ecosystem “in a part of the world that has the most to lose from the impacts of climate change and declining ocean health, and arguably the most economic gain to be made from a healthy ocean.”
1,000 Ocean Startups unites the global ecosystem of incubators, accelerators, competitions, matching platforms and venture capital & corporate venture capital firms supporting startups for ocean impact. The coalition’s vision is to mainstream the ocean impact innovation ecosystem and bring the sector to maturity by scaling at least 1,000 transformative startups by the end of the UN Ocean Decade of Ocean Science (2020-2030).
Although the Asia-Pacific ocean economy drove around 75% of global growth from 1995-2020, support for ocean innovation in the region remains disproportionately low. A UNDP report from 2022 said that the area’s ecosystem and natural resource management focal area and the coastal and marine tourism and coastal resilience market segments present opportunities that are relevant to each country.
It identified the countries with the greatest potential in terms of blue economy investment opportunities and sustainability are India, Thailand, Viet Nam, the People’s Republic of China, the Philippines, Indonesia, Malaysia, and Pakistan.
The criteria favored larger countries because of their more developed infrastructure. However, it said Small Island Developing States (SIDS) depend more on the blue economy and might have niche advantages. Artisanal fishing and aquaculture products, the report said, often command premium prices and sustainability labels, as do ecotourism resorts as compared to larger establishments.
“The Pacific region has a lower score than either Southeast Asia or South Asia,” the report said. “This implies that the Pacific region could aggregate resources and projects to attract investment, achieve scale, and compete effectively with the other regions. Blue Economy Metrics.”
