This past year marked major milestones for Sustainable Ocean Alliance (SOA) on our ocean impact investing journey.
In 2023, SOA deployed the most it ever has in a single year—$1.08 million USD in grants and investments, and another $694,000 through our affiliate venture capital fund, Seabird Ventures. This two-pronged approach helped startups face increasing fundraising challenges.
2023 saw higher interest rates, uncertainty surrounding the future of U.S. climate policies, and the climate venture market hit a 30% drop. Despite persistent obstacles, SOA is proud to have deployed $4.66 million uSD to visionary founders and grantees since 2018.
We were honored to launch the Ecopreneur Network and introduce the inaugural Class of 2023. In deepening our commitment to visionary ocean startup founders, we pioneered an entirely new model of support for the ocean-climate sector. This leap ushered in a new era of for-profit ocean innovation. Gone is the age of costly, time-bound accelerators. Our founders now receive lifetime venture support.
The mentorship and funding we’ve poured into the sector have advanced equity for ocean advocates of all ages, genders, geographies, and backgrounds. The proof is in the results: the average age of SOA grantees is 28; half of all Ecopreneur Network startups are female-founded or led, and 56% of all grant initiatives to date have been female-led. In 2023 specifically, $676,000 USD in investments and grants went directly to developing countries, and Indigenous people led 16% of grant-funded initiatives.
Measured against 30+ scientific metrics, the collective efforts of our investees and grantees have decreased pollution, reduced bycatch, mitigated greenhouse gases, and beyond—more so than in any previous year SOA has recorded.
This success is only possible thanks to SOA's supporters who fueled our unprecedented impact in 2023.
I know our founders and grantees will continue building on the foundation laid this past year. And 10 years after its founding, SOA is doubling down on our commitment to fueling their evolution, while ushering in new initiatives over this next decade.
Daniela V. Fernandez
Founder & CEO
Sustainable Ocean Alliance
SOA differentiates itself in the ocean impact space by being able to rapidly provide nimble, friendly capital to a diverse global community of ocean-focused people and organizations.
We added over 100 solutions to our porfolio in 2023, bringing our total to 376 (56 companies and 320 grants) across 83 countries since 2018.
Of the 130+ solutions who contributed data to the 2023 report, SOA and our affiliate venture capital fund Seabird Ventures have supported them to-date with over $4 million USD in grants and investments, enabling the creation of blue jobs and stimulating blue economies in critical ecosystems.
Data are from the time of first investment in 2018 and first grant in 2020.
SOA takes a unique approach to solving key ocean challenges by deploying capital through a combination of grants to grassroots orgs and leaders as well as investments in for-profit startups. This strategy has led to SOA supporting a diverse community of people driving ocean solutions and measuring a range of metrics and magnitudes.
For this report, SOA collected self-reported data from companies and grantees active in 2023. We analyze and aggregate data guided by a methodology informed by scientists, investors, startups, and ocean experts. We classify data by five critical ‘areas’ of impact that relate to UN SDG and Ocean Decade 2030 targets, and map to our goal to decarbonize, detoxify, regenerate, and replenish, the planet.
This report represents the work of hundreds of people dedicated to restoring ocean health and we are indebted to them as the driving force behind SOA.
—
Craig Dudenhoeffer
Chief Impact & Investments Officer
Co-founder, Ocean Solutions Accelerator
Taylor Garrett
Associate Director of Grants & Impact
2023 IMPACT: 28,212 Tonnes of CO2 Avoided or Removed | 16 Countries
Decarbonization was a focus of our 2023 grantmaking and investments strategy. As a result of increased capital deployed as well as scaling by previously supported solutions, the amount of carbon dioxide removed and avoided increased significantly as compared to 2022. An estimated 18,959 tonnes was sequestered by blue carbon ecosystems (mangrove, seagrass, marsh, kelp) and 9,253 tonnes was avoided, primarily through more efficient and sustainable material production. According to the EPA, the average passenger vehicle emits 4.6 tonnes of carbon dioxide per year, so these reductions are roughly equivalent to taking over 6,000 cars off the road for a year.
2023 IMPACT: 17,981 Tonnes of Solid Pollution Avoided or Removed and 4,000 Tonnes Upcycled | 26 Countries
Detoxifying our planet requires removing waste and avoiding creating even more through efficient use and re-use, as well as maintaining ecosystems that naturally filter and remove waste. In 2023, SOA solutions removed 12,400 tonnes of pollution, primarily in India, Indonesia, Kenya, Colombia, Ghana, Guatemala, and the United States. Over 5,000 tonnes of waste was avoided, mostly by startups implementing alternative solutions for product, packaging, and fishing gear. In addition to mitigating solid waste, over 150,000 cubic meters (60 Olympic swimming pools) of water wasn’t polluted by toxic brine or agricultural runoff thanks to solutions leveraging bio and technical remediation.
2023 IMPACT: 227 Hectares of Coastal Ecosystems Restored | 19 Countries
Regenerating ecosystems is a broad category, but in terms of 2023 SOA solutions it predominantly means seeding and monitoring mangroves, seagrass, kelp, marsh/estuaries, and reefs. In 2023, 60% of all area restored was mangrove forest, and over 35,000 mangroves were planted. Over 10,000 corals were planted across the Bahamas, Indonesia, Madagascar, Tanzania, Brazil, and Timor-Leste, and 736 hectares of coastal ecosystems were monitored for ongoing restoration progress. The average New York City block is two hectares, meaning a relatively small group of organizations restored over 100 city blocks in a year.
2023 IMPACT: 4,203 Tonnes of Blue Food Generated and 215 Tonnes of Catch Avoided | 16 Countries
Replenishing our fisheries requires improving monitoring and fishing practices, expanding biodynamic aquaculture and mariculture, and implementing more sustainable alternatives to environmentally taxing foods and agricultural processes. Exploring the impact of kelp as a sustainable food source and carbon sink was a focus of 2023 grantmaking, and included: grants to three farms in Alaska and British Columbia; researching kelp and potential farming impacts in Ireland and Namibia; and using AI to estimate its biomass in Canada and the Philippines. Over 200 square kilometers of fisheries were monitored by advanced technologies meant to improve efficiency and reduce waste, and 405 vessels were using new tech to make fishing more sustainable.
2023 IMPACT: 1.9M Hours of Data Collection, 139 Reports Published, 12,325 People Trained, 136,566 People Engaged by Grant Initiatives | 36 Countries
This impact area pertains to equipping decision-makers and the next generation of ocean advocates with accurate data, as well as providing education, opportunities, and exposure to people that need it most. Many of the recipients are students and young grassroots leaders (average age of 26) working on small but locally impactful initiatives. Advocating for a moratorium on deep sea mining was a focus in 2023, and grants supported activation in 14 countries and helped increase the number of signatures on SOA’s joint petition for a moratorium to over 300,000.
In 2023, SOA awarded 98 grants and invested in 12 companies—operating across a combined 61 countries—in addition to welcoming 11 new companies to the Ecopreneur Network. The average SOA grant was $5,930 and the average investment amount was $71,800 by SOA and $138,800 by Seabird Ventures.*
Of all capital deployed, 38% supported operations in developing countries and $302,000 was invested in companies that joined the Ecopreneur Network in 2023.
SOA funded more grants and investments in 2023 than any previous year.
*All dollar amounts are in USD.
Grant
Mexico
Region
Marine Data or Research
Karen Fuentes
2021
The Manta Caribbean Project is developing specific conservation strategies that ensure the long-term safeguarding of mobulid rays by studying several aspects of the species' ecology and biology, in collaboration with various stakeholders such as lobster fishermen, MPA rangers, and MPA managers. With this funding, the project will provide practical training workshops to fishing cooperatives to reduce the risk of mobulid entanglements in small-scale fisheries gear within Marine Protected Areas, identify the most commonly used fishing gear and which causes the most harm, and lead educational workshops to increase community knowledge about the species.
Learn MoreGrant
Colombia
Region
Ocean Data, Literacy & Research
maria angelica barcasnegras rodriguez
2021
Training 10 students over the course of 5 months on ocean conservation in Colombia, as well as local cleanups around Baranquilla.
Learn MoreGrant
United States of America
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Megan Hansen
2021
Through this project, the University of Southern Mississippi Hub will conduct monthly cleanups during the academic year at polluted locations at or near bodies of water in the Hattiesburg and Mississippi Gulf Coast areas. The focus is on areas that drain into major rivers in the area. Collected waste will be tracked and reported to local interest groups.
Learn MoreGrant
Portugal
Region
Ocean Data, Literacy & Research
Eugenia Barroca Pereira Rocha
2020
Ocean Wide Web (OWW) is one of Ocean Hub Portugal's programs that is essentially an Ocean Literacy educational online platform. With SOA support, they have started their first online courses: Caravela and Bússola. Caravela's goal is to raise awareness of the challenges facing the ocean and share an overview of the current global situation as well as possibilities for action in the area, with the aim of inspiring and training young leaders to align their course with the ocean sustainability.
Learn MoreGrant
Japan
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Robin Takashi Lewis
2020
Mymizu (“mizu” is water in Japanese) provides a free water refill platform that connects people to 200,000+ locations globally where they can refill their water bottle, instead of buying bottled water. A large part of their mission is education on the oceans & the plastic problem; they carry out workshops and awareness-raising activities at schools, universities & events (70+ times in the past 7 months to 5000+ people), as well as create digital content (e.g. infographics/videos) to engage people on social channels.
Learn MoreGrant
Peru
Region
Ocean Data, Literacy & Research
Daniel Caceres Bartra
2020
La Academia is an online course developed and managed by Sustainable Ocean Alliance through the SOA Hubs in Peru and Ecuador, in coordination with Hispanoamerica Hub network in Costa Rica, El Salvador, Mexico, Chile, and Colombia. It educates Spanish-speaking young people interested in ocean conservation through seminars conducted by experts, multimedia educational content, and weekly assignments.
Learn MoreGrant
Canada
Region
Blue Foods: Fisheries, Aquaculture, & Seafood Alternatives
Alexander Dungate
2022
This software MVP seeks to provide real-time reporting of catch and bycatch using cloud-based AI to review videos from fishing vessels to enhance electronic monitoring and thereby improve the policy and action the data inform.
Learn MoreGrant
Indonesia
Region
Greenhouse Gas: Blue Carbon & CO2e Removal or Avoidance
Innandya Irawan
2020
CarbonEthics is a startup, non-profit organization that aims to educate individuals and institutions about how to reduce and offset their carbon footprints. Blue Carbon Ecosystem is a project to directly sequester carbon through the conservation and restoration of coastal habitats (mangroves, seagrass, and coral) while also enhancing the livelihood of local communities. Through this grant, stakeholder mappings are being conducted, carbon stock potential is being assessed, and the organization is gaining formal government accreditation. Income generated from offsets as a result of this project goes directly to blue carbon-farmers.
Learn MoreGrant
Colombia
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Maria Barcasnegras
2020
Bocas de Ceniza is the point where the Magdalena River flows into the Caribbean Sea. In this wonderful place, three ecosystems can be appreciated from the same position: beach, river and mangrove. During the last 10 years this region has been seriously affected by pollution and toxic waste thrown into the river by industries. This group developed an educational series, implemented a clean up, and introduced a citizen-science process, encouraging participatns to identify and document usable material and the process in a toolkit. The project will directly benefit the population of Bocas de Cenizas by reducing riverine and marine pollution and through education.
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