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
Kenya
Region
Ecosystems and Species: Preservation & Restoration
Humpter Nyambura
2023
The Blue Academy program is centered around a challenge from which 20 finalists will be selected to participate in a bootcamp aimed at enhancing their skills and expanding their understanding of marine issues. Through the bootcamp, students will gain practical knowledge and expertise in order to identify ocean solutions that will have long-lasting effects on both marine ecosystems and the communities that depend on them. SOA Kenya Hub leader, Humpter, will work with experienced partners in Kenya to develop curricula that fosters active participation and real-world solutions towards resolving interconnected issues impacting the ocean.
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Germany
Region
Ocean Literacy or Advocacy
Francielly Monteiro
2023
This project by SOA Germany Hub combines traditional and modern elements to foster youth involvement in ocean conservation efforts by putting on a youthful, innovative version of the traditional German 'Stammtisch’—a gathering typically attended only by older generations. Bringing young entrepreneurs in Germany together in this way is intended to spark meaningful conversations on topics related to ocean health and climate resilience, and result in meaningful connections that will nurture collaborations and startups. Hub leader Francielly is herself a startup founder, working on the artificial intelligence side of a coral restoration venture, and intends to use this event to grow the SOA network in Germany.
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United States of America
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Nikita David
2023
This project by SOA UF Hub focuses on addressing the issue of pollution in local water bodies of Gainesville, Florida and nearby areas by engaging and educating students through various clean up events. By raising awareness and working towards the goal of reducing pollution in and around Gainesville, the project seeks to make a meaningful impact in the local community. Project leader Nikita David is the co-President for the SOA UF hub, and has been a member of SOA UF for the past two years.
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Ghana
Region
Ecosystems and Species: Preservation & Restoration
Gideon Sarpong
2023
In Ghana, the coastline is a vital habitat for endangered sea turtles like Olive Ridleys, Leatherbacks, and Green Turtles, which face multiple threats including poaching and fisheries bycatch. Recognizing the urgent need to protect these sea turtles and promote sustainable fishing practices, the project, by SOA Ghana, aims to educate coastal communities in Cape Coast and Accra—specifically targeting fishers, women in the value chain, and coastal dwellers. In addition to the educational initiatives, the project will host the first virtual conference on protecting sea turtles in Ghana and launch a digital campaign to spread awareness about protecting sea turtles and advocating for sustainable fishing. Turtle Protection Cubs will be established in the two communities to ensure that endangered turtle species are protected from poaching. Project leader, Gideon Sarpong co-founded iWatch Africa, a non-governmental media and policy organisation where he currently works as Director of Policy and News.
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Philippines
Region
Ecosystems and Species: Preservation & Restoration
Paul Lester Dellosa
2023
The Ocean Protection Caravan, an initiative by SOA Philippines, seeks to address the pressing problem of declining ocean health by engaging young people in ocean literacy training and mangrove plantings. They will develop their own in-person and virtual workshops to train 50 youth in two communities, and participants will develop their own ocean conservation projects, which the SOA Philippines Hub will support and monitor as they are implemented.
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Nigeria
Region
Ecosystems and Species: Preservation & Restoration
Jephthah Adelowo
2023
Deep Dive Learning is a project developed by the SOA Ibadan Nigeria Hub with the main objective of fostering a deeper understanding of deep sea mining. The project will consist of a learning program that will include students from local schools and youth from the community, offering them a unique opportunity to gain knowledge in the field of deep seabed mining. The project is being led by Jephthah Adelowo, a certified leader in sustainable waste management who currently works as Creative director for a social enterprise that focuses on climate change sensitization and environmental waste pollution.
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Ecuador
Region
Ocean Literacy or Advocacy
Abigail Pinto Guzmán
2023
Limited ocean education in Ecuador is having a detrimental impact on awareness and conservation efforts. In response to this pressing issue, the project team will utilize the power of pictorial art as a tool to emotionally engage individuals with the importance of the oceans. Recognizing that art has the ability to transcend barriers, the team aims to effectively convey the significance of ocean conservation. SOA Guayas will organize a series of six illustration workshops focused on topics related to environmental and oceanic education. These workshops will provide participants with valuable skills and techniques associated with watercolor painting, enabling them to contribute to the creation of a community art piece. Project leader Abigail Guzmán specialized in marine pollution at the European University of the Atlantic and is the Coordinator of Environmental and Oceanic Education at the SOA Guayas Hub.
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Tanzania
Region
Ecosystems and Species: Preservation & Restoration
Rashid Said Ali
2023
The aim of this project by SOA Zanzibar is to plant 1,000 mangrove seedlings in the Southern region of Zanzibar in the Ungujaukuu community. This will be achieved through collaboration with the local government and community members, who will actively participate in planting, monitoring and maintaining the mangrove forests. The goal is to ensure the long-term sustainability of the mangrove forest by educating the coastal community about the significance of mangrove reforestation and involving them in the project implementation. Project leader Rashid Said Ali, has more than 5 years experience working with different organizations on implementing mangrove projects in Zanzibar.
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Cameroon
Region
Pollution Reduction: Circular Use, Waste Removal or Avoidance
Ahmed Moumine
2023
SOA Yaounde Cameroon is embarking on the Ocean Heroes Plastic Challenge project, which seeks to tackle the pressing issue of plastic pollution in Yaoundé. The primary objective of the project is to empower and train young individuals from various schools, transforming them into Youth Ocean Heroes. These students will undergo comprehensive training and mentorship in waste management and ocean conservancy, enabling them to become advocates in their communities. Furthermore, they will pass on their knowledge by training other students, fostering a chain of empowerment that extends across different communities. The project will also raise awareness about plastic waste management and encourage students to write petitions to local councils, advocating for stricter regulations. Project leader, Ahmed Moumine, is the founder of Think Green, a non-profit organization working towards environmental protection and also works as a Project Coordinator for Bottles2Bricks, an organization that transforms plastic waste into building materials for disadvantaged communities.
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