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
Peru
Region
Ocean Data, Literacy & Research
Javier Validivia De La Gala
2020
SOA Arequipa aims to promulgate science to the 4 cardinal points of the Arequipa region, promoting scientific thought to all the inhabitants of the region even if they are not linked directly to scientific fields. Our vision is to disseminate science through use of social networks, campaigns and expositions to both public and private centers so that the population becomes aware of all the impacts that pollution is causing in the Arequipa region. We want to provide people with multiple science-proven solutions to avoid the continuous pollution that occurs day to day.
Learn MoreGrant
Belgium, United States of America
Region
Ecosystems and Species: Preservation & Restoration
Selene Alvarez Pena
2022
SOA YPAC will conduct a community survey and policy brief about deep seabed mining as well as a roundtable discussion with high-level leaders to share their findings. They aim to use UNOC as a platform to share their findings, and will champion scientists, businesses, organizations, and communities who support the moratorium or practice a circular economy
Learn MoreGrant
Indonesia
Region
Greenhouse Gas: Blue Carbon & CO2e Removal or Avoidance
Willy Angraini
2021
3 youths from 3 islands in the Thousand Islands (Tidung, Pari, and Kelapa Dua) developed technical skills and soft skills as they underwent online classes on climate change and website development. The 9 participants also gained direct experience in the conservation field by planting at least 1,000 mangroves and 150 seagrass across the 3 islands.
Learn MoreGrant
Belarus
Region
Ocean Data, Literacy & Research
Irina Ponedelnik
2020
Today, the Belarusian government considers actions that help achieve SDG14 to be irrelevant for the country, since Belarus has no access to the sea. However, young people disagree and do consider the challenge of protecting the ocean environment to be relevant for Belarus (MyWorld, 2020). As part of the Youth Initiative for Sustainable Development, we hold 5 informal lessons in 5 districts of the Minsk region (Belarus), which tell young people aged 14-20 about the problem of pollution of the world’s ocean. The final interactive event in Minsk is conducted in the Global Jam format, where young people come together and develop projects and solutions to the problems in Belarus pertaining to SDG 14.
Learn MoreGrant
Ecuador
Region
Greenhouse Gas: Blue Carbon & CO2e Removal or Avoidance
Juan Fernando Pesántez Muñoz
2022
SOA Manabi (Ecuador) Hub will plant and monitor 200 mangroves in the Punta San Clemente Marine Protected Area, working in partnership with the Contamos Contigo Ecuador Foundation to clean and re-establish adequate water flow to the estuary.
Learn MoreGrant
Malaysia
Region
Ocean Data, Literacy & Research
MELISSA BEATA MARTIN
2020
This project aims to: 1) curate selective marine organisms and illustrated graphics to debunk misconceptions of taxonomy through the art of epoxy resin, 2) prepare information for resin specimens and blocks via QR codes, with video links from experts related to themes of acidification, aquatic invasives, destruction of habitat and pollution, 3) create awareness through advertising and create an educational toolkit and exhibition. The project is expected to help youths engage the fundamental science of taxonomy with conservation and ecology in line with the themes of SOA and SDG 14, and aid experts by working towards establishing conservation priorities of our Malaysian marine biological heritage.
Learn MoreGrant
Brazil
Region
Ocean Data, Literacy & Research
Giovanna Scagnolatto
2020
The city of Paraty, an important tourist spot in Brazil, has situations of high marine environment degradation, including overfishing, excessive trawling, bay pollution (lack of basic sanitation), marine environment destruction and overhunting of protected species in protected areas. This project seeks to educate community youth on the impacts of anthropogenic actions and also present sustainable solutions that can replace predatory activities and increase the fishing stock of the region through respect for protected areas.
Learn MoreGrant
Argentina
Region
Ocean Data, Literacy & Research
Giuliana Fiore
2021
This project is led by SOA Argentina and aims to generate more ocean awareness in the country since only a small portion of the population lives near the coast. They will develop 2 series of podcasts focused on Argentinian coastal wetland ecosystems as well as sharks, rays, and chimera species found in the Argentinian Sea. They will also partner with Proyecto Sub and Proyecto Arrecife to create a photographic record of cartilaginous fish species and marine coastal wetlands in the region. They will develop a website and stronger social media presence to share all this work with the community.
Learn MoreGrant
United States of America
Region
Blue Foods: Fisheries, Aquaculture, & Seafood Alternatives
Robyn Linner
2022
The annual "Sentinel Survey" seeks to understand effects of climate change on Atlantic cod and other species in the eastern Gulf of Maine to inform federal management. Cod have essentially vanished from the NE region of the Gulf of Maine and scientists don't know why, in part because of a lack of data collected at the federal level (cod live in shallow waters, and lobster gear makes shallow survey trawling impossible). This survey seeks to fill this knowledge gap, while also collecting data on the impact of the rapidly warming waters of the Gulf of Maine.
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