VentureWell, a global nonprofit dedicated to fostering innovation for lasting social impact, has convened 15 blue tech startups from across the U.S. with other ocean innovation leaders in Rhode Island to kick off the first stage of the VentureWell Ocean Enterprise Accelerator.

Supported by NOAA, VentureWell is championing these innovators as they develop and commercialize technologies that will bolster economic development and resiliency on U.S. coasts. Together, VentureWell and NOAA are working to achieve the goal of the Ocean Enterprise Accelerator program: to support the adoption of new ocean data technologies and services for economic and societal benefit to the U.S. and its growing blue economy.

The three-day gathering, held at Cambridge Innovation Center Providence and the University of Rhode Island Bay Campus, marked the official launch of the program’s first phase. During the event, participants learned about customer discovery, technology development pathways, market applications, and funding opportunities needed to launch
and scale their businesses.

The participants are now engaging in three months of virtual workshops, one-on-one mentorship and personalized support to develop their product readiness roadmaps.

Over the next four years, the Ocean Enterprise Accelerator will support up to 220 ventures through a structured, four-stage program hosted in regions across the U.S. The innovators will gain an understanding of technology pathways, market applications and funding options to launch their innovations.

The teams will receive dedicated guidance from blue economy experts, intensive training, and opportunities to continue building and refining their innovations in preparation for a funnel that can provide up to four years of staged mentorship and over $140,000 in non-dilutive awards. Each startup participating in this stage will receive $15,000 in Technology Development and Commercialization awards to advance their innovations.

See the startups chosen for the first cohort here.