Over the past decade, the Sustainable Ocean Alliance has grown from a dorm room operation to a thousands-strong global network of experts, investors, and “ecopreneurs.” They all believe the best way to save our ailing oceans is to embrace innovation. Founder Daniela Fernandes has been at the helm of the ship, and SOA is ready to make new waves.
Since Fernandez started SOA in 2014, SOA's approach to addressing the climate crisis has embraced the emerging startup economy. “Before us, no one in this space was even considering entrepreneurship and innovation as part of the solution,” she said in an interview with TechCrunch. “This is an investable industry!” And we're very proud to be leading the way. So in total we have deployed almost 500 million people into this space. ”
It took time for the idea to gain traction, but Fernandez's unrivaled optimism and enthusiasm attracted powerful investors (the Benioffs were supporters) and countless young people eager to take action.
“My perspective has always been, let's look at the economics,” she explained. “When you have an alternative to a company or a sector that is both sustainable and profitable, that is social change. And these alternatives already exist in the market. How quickly can we scale them and make them the norm? And how quickly can we raise the capital we need to support this market?”
SOA founder Daniela Fernandes at the United Nations Youth Innovation Forum. Image credit: SOA
The organization has moved from advocacy to active participation in its markets through its accelerator program, helping dozens of companies grow from pre-seed to commercialization.
This approach had to change as we identified the categories with the most opportunity for SOA to break into the mainstream. They are greenhouse gas reduction, pollution reduction, ecosystems and species, blue food, ocean data, literacy, and research.
The program itself has changed from Startup 101 with a conservation element to one that focuses on making important connections and presenting compelling data.
“In the early days, many of these companies were just interested in understanding what the marine ecosystem needed from them,” Fernandez said. “What is the market fit for my product? Who are the experts I can benefit from talking to? Now that we have essentially institutionalized SOA as the leading organization in this space, it is We focus on lifelong support for companies. This is an association that is beneficial to these founders and opens many doors. And we have capital that is actively seeking these investments. [other incubators and industry groups] You may not realize it. ”
(This likely includes SOA's own venture arm, Seabird Ventures.)
Images from SOA-backed startups Navier and Carbon Ethics. Image credit: SOA
“We were also able to collect a lot of impact data from our company,” she continued. “One of our competitive advantages is that we created the industry’s first Ocean Impact Assessment, a framework for assessing the impact these startups are having on the world.”
This led to the creation of this new Ocean Solutions label, which involves a thorough evaluation of a company's methods and impact, rather than just a rubber stamp. The idea is that companies and products with this label not only meet a low bar of “no worse than most,” but actually have a significant, measurable positive impact on the ecosystem. It means giving. (This is a partnership with the Solar Impulse Foundation, which has been doing something similar for a while.)
Look for this label wherever you invest. Image credit: SOA
“The main target is investors,” she says. “We need to start pumping more capital into this space and sending a signal. Investors are eyeing ocean-related deals on the horizon, and LPs are becoming more cautious about the impact.” But there are a lot of companies out there trying to raise money to counter this growing trend. We're getting into the weeds when it comes to measuring impact, but getting the label. , the benchmark must be an outsized impact on the planet.”
On the other hand, new startups are being created one after another through the Ecopreneur system.
Oneka Technologies (desalination buoys) Genevos (maritime hydrogen and fuel cell power system integration) Vlinder (carbon credits focused on mangrove restoration and marginalized communities) Phycolabs (seaweed-based biofibers) INVERSA (invasive leather (!)) Korai Africa (marine biodiversity consulting and restoration) SeaVoir (algae-based health supplements) PierSight Space (marine satellite imagery)
Fernandez hinted that another major structural level change to SOA is coming soon. But what impresses her most is the scale of the surgery, which was once literally performed only by her.
“We're in 186 countries! Whereas we started out in a dorm room in Washington, D.C.? And the fact is, we have projects, founders, youth hubs, things like that in all of these places. These people are actively thinking about solutions, not just climate anxiety,” she said. “Applications to our programs are increasing, the number of young people looking to become ocean leaders and event representatives is increasing, and the types of companies we meet are increasing.”
“It’s as if being an ocean entrepreneur is extremely complex, because ocean entrepreneurship is such a dynamic industry that the only way to do it is to do it in a systematic way. It’s about using a macro-level approach…that’s what we took.”