Even the US SEC.gov now has a section on ESOs in support of small business capital development. ESOs proliferated, well documented by David Hume in his blog, The Liquid Grid, and his accessible dataset of the ecosystem. Business models for ESOs developed, pivoted and continue to do so. Some are purely philanthropic. Others are investment funds with a serving of ESO to secure success. Some are for-profit that take equity.
The services provided by ESOs fit many stages of development. Metricsbased track records are coming of age to fully understand the efficacy of the services.
So, where do ocean tech accelerators go from here? I see several very positive trends.
PUBLIC-PRIVATE PARTNERSHIP
More public-private partnerships in ESO activities around the world are being established. Countries, and regions within, want the economic development that innovation and start-ups bring. There is a growing understanding that there is a gap between early innovation development and an investable solution. Public and private organizations must fill that gap and reduce early-stage risk. ESOs can be the platform to integrate the help from governments and private entities into services ESOs deliver to start-ups.
The lines between Blue Tech and Climate Tech are blurring, in a good way. The connection between climate issues and ocean health is being understood through research, leading to greater public awareness. Many climate solutions are fundamentally ocean-based solutions, both engineered and nature-based. The flow of partners, funds, talent, and other resources into climate topics can only help the “Blue Tech” ESO movement. These two topics do not compete but, instead, complement each other.
PATH TO COMMERCIALIZATION
While research for its own sake has value, universities, and other research centers appear to be focusing on commercializing valuable internal activities, today more than ever. One sees important ESO activities embedded in these institutions with new resources and funded centers, perhaps responding to alumni and donor interest that funded research is not “left on the shelf” or that opportunities are missed.
Founded in 2011 by the US National Science Foundation (NSF), I-Corps is a university focused, public-private collaboration, first step for academics to be prepared before entering more traditional ESO activities, giving innovators a leg up toward commercialization. NSF recently added more activities in support of this mission.
Finally, ESO organizations, in their own business model development, are focusing on strengths that come from their geography and areas of expertise/economy that are fundamental to location. Most ESOs actively try to avoid being everything to everyone. ESO umbrella collaborations are developing to help the ESOs capitalize on what each does best.
1,000 Ocean Startups is such a member-based collaboration of Blue Tech investors and ESOs, built for that purpose.
The future is bright for ESOs, but outcome/ impact models need further development as Blue Tech matures. The development of this ecosystem in the last decade, its resiliency during the pandemic, and its continued flexibility of purpose and models for delivery make me optimistic that the ESOs will continue to add value to the overall Blue Economy and to the sustainability of the ocean and its associated coastal systems.
This feature appeared in ON&T Magazine’s 2025 Special Edition, The Future of Ocean Technology, Vol. 5, to read more access the magazine here.
