The New England Aquarium is rolling out a new program to get early-stage investors interested in the bluetech economy.
For several years, the aquarium has been working with SeaAhead to run BlueSwell, a bluetech incubator for startups that address ocean conservation issues. BlueSwell falls under the purview of the aquarium’s BalanceBlue Lab, a science and innovation hub that promotes a blue economy that also protects the oceans.
Emiley Zalesky Lockhart, the inaugural head of the BalanceBlue Lab, said they’ve been hearing from BlueSwell startups that finding early-stage investors that understand and support bluetech companies can be very difficult.
“We’re able to sort of get them going, get them propped up and moving in the right direction. And then there is a valley of investor death,” Lockhart said.
Lockhart said the investment community, including angel investors funding early-stage companies, is not as familiar with bluetech as it is with more established industries like software and biotech.
The aquarium and BalanceBlue Lab are now working with SeaAhead and the Angel Capital Association to launch a new program called UpSwell. The program aims to educate venture capitalists and angel investors about the scientific, environmental and business aspects of blue technology.
“Getting angel investors involved to understand the blue economy, understand some of the verticals within the blue economy, so that they get comfortable putting their money there is what we need in order to prime that pump so that those technologies can move forward,” Lockhart said.
Sign up for The Beat, BostInno’s free daily innovation newsletter from BostInno reporter Hannah Green. See past examples here.
Lockhart said they see education as the first step in this process. UpSwell is kicking off its work by publishing white papers designed to give investors assessments of market trends. The first white paper covers aquafeed innovation and investment opportunities for aquaculture. Aquafeed includes fish oils, fishmeal, microalgae, insects, and other contributors to the growth of aquaculture.
“We’re trying to make it a business white paper. Something that is really digestible and understandable that gives an overview of the science and then also gives an overview of what the current state of the startups are,” Lockhart said.
Upcoming white papers will cover topics like AI in bluetech and blue carbon.
Lockhart said UpSwell held an event in October and plans to hold another next fall to bring together bluetech innovators and investors.
While they’re not targeting only Massachusetts investors, Lockhart said they are focused on how the Bay State can be a leader in the bluetech economy.
“It’s terrific to have the support of aquarium leadership who says we know we’re part of the innovation ecosystem here. Massachusetts is the most innovative state in the country. Let’s do this. Let’s walk the walk,” Lockhart said.
Subscribe to the Morning Edition or Afternoon Edition for the business news you need to know, all free.
