COAST Partners with Blue Action and Founders Factory to Launch Blue Action Canada

9 January 2025

(Image credit: COAST)

COAST, Pacific Canada’s hub for the sustainable blue economy, has announced the launch of Blue Action Canada, a pilot accelerator to support eight British Columbia-based blue economy startups. Key areas of interest include offshore energy, ocean monitoring and data collection, aquaculture, and coastal resilience.

The accelerator will provide support to eight founding teams over a four-month program, with a particular emphasis on operations, product development, technology, customer discovery, commercialization, and fundraising. Blue Action Canada will also provide a platform for companies to access a global community of investors and partners, including Blue Action’s growing network of ports and government partners spanning ten countries, to explore pathways to pilots, testing grounds, and commercial partnerships.

British Columbia is not only home to one of North America’s most exciting technology ecosystems, but it is also one of the world’s blue economy epicenters. BC’s blue economy is valued at over $21 billion, encompassing over 25,000 km of shoreline, 40,000 islands, and more than 450,000 km² of internal and offshore marine waters. The West Coast province is historically and economically significant to the country’s maritime industry, with the Canadian government recently announcing plans to invest in decarbonizing heavy industry in British Columbia.

George Northcott, President of Founders Factory, said, “We are so excited to work with COAST and support the blue economy ecosystem in British Columbia. We are looking forward to working with the founders in the program.”

Rupert Hayward, President and Chairman of Blue Action, “As we expand our model for climate-resilient futures for coastal communities and their marine ecosystems, we are delighted to see growth into a cold-water marine environment in collaboration with one of the leading blue economy jurisdictions and partners in British Columbia, COAST.”

Launched in 2023, Blue Action Accelerator is a collaboration between Founders Factory and Bahamas-based ocean hub Blue Action. The program offers founders best-in-class support, blue economy industry leaders, and a global network of climate and ocean investors. To date, the program has made 11 investments, including DRIFT Energy, Ocean Ledger, Brineworks, ACUA Ocean, and Armada Technologies. Their portfolio has raised a combined $31 million in follow-on funding. BAA is backed by Builders Vision, IAlumbra, Sea Forward Fund, and Planet Ocean Fund.

Jason Goldsworthy, Executive Director of COAST: “British Columbia is home to both a legacy of success and a rising tide of innovation in the blue economy—from AI-enabled ocean conservation to marine renewable energy. Through COAST’s partnership with Blue Action and Founders Factory, the Blue Action Canada pilot will bring international partners and industry-leading experts to support BC’s ocean founders and cement Pacific Canada’s position as a global hub for ocean innovation.”

The Blue Action Canada pilot will commence in January 2025, culminating in a residential program in May 2025, bringing startups to Vancouver, coinciding with Web Summit coming to the Canadian west coast city.