In recent years, the commitment to ocean sustainability has gained momentum across industries and borders, driven by global initiatives like the UN’s Ocean Decade, the UN Ocean Conference, the Our Ocean Conference and the growing support for ocean startups. A significant trend emerging from this push for marine protection is the increasing role of corporate actors in supporting ocean action. As companies recognise the urgent need to preserve marine ecosystems, they’re investing directly in innovative solutions that aim to address the challenges facing our oceans.
The 1000 Ocean Startups Coalition: A New Wave of Innovation
Our team took part in the 2024 Annual Gathering of the 1000 Ocean Startups Coalition in Amsterdam (October 21-22). The 1000 Ocean Startups Coalition, launched to support a thousand ocean-related startups by 2030, has become a focal point for corporate interest. Under the theme “The Ocean Nexus”, the event emphasised the critical role ocean-based solutions play in addressing global challenges – from food security and climate change to sustainable development and energy security. Bringing together 100 participants from 73 organisations, including 1000 Ocean Startups coalition members, coalition collaborators and experts in ocean and impact investment, the event marked the largest assembly of ocean impact investors to date.
The Ocean Decade: A Catalyst for Ocean Investment
The United Nations Decade of Ocean Science for Sustainable Development (2021-2030), often referred to as the Ocean Decade, was launched to promote ocean science and encourage sustainable solutions. This global initiative has brought the importance of ocean health into the spotlight, setting ambitious goals for ocean conservation, climate resilience, and sustainable resource use. As part of these efforts, the Ocean Decade has highlighted the importance of innovation and private-sector engagement, encouraging businesses to contribute to the sustainable blue economy. Corporate investors have emerged as critical players in this arena. Companies from diverse sectors, especially those with direct ties to the ocean—like shipping, fishing, and tourism—are seeing the value in investing in ocean-focused startups, positioning themselves as leaders in environmental responsibility.
The UN Ocean Conference: Expanding Commitments to Marine Action
Last held in 2022, the UN Ocean Conference brought together governments, businesses, and NGOs to strengthen global action for ocean sustainability. Underscoring the need for immediate action, one of the conference’s key messages was the critical role of the private sector in driving sustainable change, and corporate investors were called upon to contribute both financially and strategically.
Following the conference, a number of corporations announced or expanded their Corporate Venture Capital funds specifically targeting sustainable ocean initiatives. This commitment has accelerated investment in startups focused on marine conservation, pollution reduction, and ocean carbon sequestration.
Building the Future of Ocean Innovation
At the 1000 Ocean Startups Annual Gathering, key insights emerged on the need for innovative financing and strategic partnerships to scale ocean sustainability. Discussions around “Deep Blue Tech” highlighted the critical role of corporate investment initiatives in supporting capital-intensive innovations essential for ocean health. Given the unique challenges of high CapEx requirements and long development timelines in ocean tech—areas where lomarlabs is deeply invested—corporate initiatives were recognized as ideal partners for providing the strategic patience and substantial capital needed.
Another major takeaway was the importance of alternative capital structures for financing ocean innovation, especially in emerging markets where impact potential is greatest. Traditional venture capital models often fall short, making partnerships with corporates and financial institutions essential to bridge funding gaps. Furthermore, the community emphasised that developing hard tech solutions requires collaboration with diverse stakeholders, such as corporates and the public sector, to build complex infrastructure. Through co-investment and collaboration, risks are shared, due diligence is enhanced, and the path to transformative impact in industries like shipping is strengthened.
In April 2024, lomarlabs was invited to showcase our work at the Our Ocean Conference in Athens. This year’s theme, “An Ocean of Potential,” continued the conference’s commitment to fostering collaboration across six key action areas. However, this year’s emphasis on promoting green shipping reflected a notable shift in priorities. Recognising shipping’s environmental impact, the conference spotlighted investment in sustainable innovations to support the blue economy—a focus that has evolved from prior years’ broader conservation themes to emphasise targeted action and industry engagement in high-impact sectors.
At lomarlabs we are fully aware that in addition to supporting innovative technologies for decarbonising the maritime industry, addressing issues such as the transport of invasive species, vessel strikes, underwater noise, and marine pollution are all ways in which we impact nature and must work toward alleviating. Our commitment to ocean sustainability drives us to collaborate with forward-thinking ventures and support impactful solutions that protect our oceans and ensure a sustainable future for all.
