PROVIDENCE – The nonprofit VentureWell has convened 15 blue technology startups from across the nation and other ocean innovation leaders in Rhode Island for the launch of the inaugural phase of its Ocean Enterprise Accelerator.
Supported by the National Oceanic and Atmospheric Administration, VentureWell said it aims to develop and commercialize technologies that advance economic development and resilience along U.S. coastlines.
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The program facilitates the adoption of new ocean data technologies and services that benefit the burgeoning blue economy.
A recent three-day event held at CIC Providence and the University of Rhode Island’s Bay Campus in Narragansett marked the program’s official commencement. Participants delved into topics such as customer discovery, technology development pathways, market applications and funding opportunities critical for launching and scaling their businesses.
“Our accelerator empowers innovators to create lasting change in the blue economy,” said Tricia Compas-Markman, director of National Venture Programs at VentureWell. “Through coaching, mentorship and access to our extensive network of experts, we are equipping these startups with the resources necessary to turn their ideas into impactful, scalable solutions.”
Kenna Rubin, associate dean of research at URI’s Graduate School of Oceanography, added, “As Rhode Island’s public flagship R1 land- and sea-grant university, URI is proud to be a destination and technical hub for ocean innovators. We look forward to a long and fruitful partnership with VentureWell, leveraging our world-class research and development facilities on the Narragansett Bay Campus.”
Participants will enter a three-month phase of virtual workshops, one-on-one mentorship and support to develop Product Readiness Roadmaps. Over the next four years, the program plans to support up to 220 ventures through a structured four-stage program conducted nationwide. Each startup in this phase will receive a $15,000 Technology Development and Commercialization award to further their innovations.
Zack Baize, Ocean Enterprise Program manager at NOAA, said the launch “marks a significant milestone in advancing ocean innovation.”
“We are proud to partner with VentureWell to support innovative technologies that will foster growth and resilience in the U.S. Ocean economy,” Baize said.
Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com.
