Investing in Ocean Innovations: Why the Blue Economy Needs a New Approach

(ii) Jeff Stoike (ii) Sea turtle photography by Jeremy Bishop

A collaboration between Blue Action Ventures and one of the world’s premier venture builders, Founders Factory, the Blue Action Accelerator was founded in 2022 in order to create the next generation of high-impact technologies in the sustainable blue economy. Today, the BAA has invested in 15 early-stage startups helping test, prove, and finance innovations that can strengthen both ecosystems and economies.

As Jeff Stoike, President of Blue Action and Chief Strategy Officer of BAA, emphasises, the challenge is not a lack of ideas—it is a gap in how those ideas are supported and financed.

“The blue economy is still an emerging investment space,” he notes. “There is capital available, but not always aligned with the realities of ocean innovation—where solutions often sit at the intersection of science, infrastructure, and community systems.”

For Blue Action, this has meant rethinking what an accelerator can be. Beyond capital, the model focuses on de-risking innovation—supporting startups to validate technologies in real-world environments, particularly in Small Island Developing States where climate impacts are most immediate. This approach bridges a critical gap between early-stage innovation and investment readiness.

Jeff also points to the importance of place-based innovation. “The Caribbean is not just vulnerable—it is also a proving ground for solutions that can scale globally. If something works here, under real climate pressure, it has relevance far beyond the region.”

As interest in the blue economy grows, the question is no longer whether to invest—but how. Blue Action’s work sits at this intersection, building a pipeline of ventures that are not only technically viable but grounded in the environmental and social realities they aim to address.

In a sector where timelines are long and risks are high, unlocking the full potential of ocean innovation will depend on models that can connect science, capital, and community. The Blue Action Accelerator is one step toward closing that gap.