US Blue Economy start-up funding announced

THE US The Department of Energy has announced a $4m funding round to assist start-ups focused on the blue economy. Start-ups have only until March 24th to get their applications submitted. The US DoE has partnered with the country’s Economic Development Administration for what is part of an annual grant programme in the US.

This year’s funding, which totals $35m across all sectors and regions, will see up to $4m allocated to blue economy development by support entrepreneurship and accelerate company growth.

In its promotional material, which can be accessed here, the US agency states: The Blue Economy is generally defined as sustainable use of ocean resources for economic growth, improved livelihoods and jobs, while preserving the health of marine ecosystems. For the purpose of this solicitation the definition is broadened to include freshwater as well as marine activities.

The FY20 Industry Challenge will award grants to organizations who are…

  • Supporting commercialization of blue economy technologies
  • Improving competitiveness of blue economy startups
  • Increasing connectivity and collaboration between blue economy stakeholders
  • Leveraging the blue economy to support innovation and job creation

Organizations that may not fit the technology interests of this year’s Industry Challenge are encouraged to consider the Venture Challenge, which supports entrepreneurship and commercialization in all high-tech industries.

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