The VentureWell Ocean Enterprise Accelerator, Funded by NOAA, Will Empower Early-Stage Ventures To Accelerate Blue Economy Solutions and Commercialize Climate Resilience Technologies
HADLEY, Massachusetts, December 9, 2024—VentureWell, a leading nonprofit organization advancing science and technology innovation and entrepreneurship, has been chosen by the National Oceanic and Atmospheric Administration (NOAA) to spearhead a new blue economy accelerator. This transformative program, funded by NOAA, will support early-stage innovators and ventures in developing transformative ocean-based climate resilience solutions, fostering a vibrant blue economy, and addressing critical climate challenges.
“Our team is honored to lead the VentureWell Ocean Enterprise Accelerator, a program that combines bold vision with practical tools established through decades of experience to unlock the potential of ocean-based innovation,” said Christina Tamer, vice president of Ventures at VentureWell. “By equipping innovators with the resources they need to bring their ideas to life, we’re advancing a vibrant blue economy that benefits communities, economies, and ecosystems alike.”
Housed within NOAA’s Ocean Enterprise Program, the accelerator focuses on tools and information systems to drive innovation in key technology areas, including ocean renewable energy, coastal and ocean carbon sequestration, and hazard mitigation, to name a few.
Built on VentureWell’s proven Venture Development Framework, the program is designed to guide ventures from ideation to market launch. It provides integrated technical, business, and expert support to move innovations from the lab to real-world application while navigating the sector’s complex regulatory landscape, ensuring ventures are prepared to scale and succeed.
VentureWell is bringing together a robust collaborator network, including Recruitment Hubs, prototyping facilities, and NOAA researchers, to support this effort. Partnerships with technical resource providers and private investors will further equip startups with the resources and expertise needed to thrive. This collaborative approach empowers a diverse range of innovators to develop impactful solutions, advancing both the blue economy and global climate resilience.
“We’re thrilled to be working with VentureWell in our Ocean Enterprise business accelerator program,” said U.S. Integrated Ocean Observing System Office Director Carl Gouldman. “They have an excellent track record with the kind of recruitment and mentoring that’s at the core of this program. They also have an extensive network of partners nationwide who bring a broad spectrum of expertise to the table.”
Over four years, the VentureWell Ocean Enterprise Accelerator will scale its efforts to support up to 220 ventures through a structured, four-stage program. Participants will gain access to entrepreneurial training, expert mentorship, Technology Development and Commercialization awards, and state-of-the-art testing facilities by our partners around the country.
Key features of the program include:
- Technology Development and Commercialization awards to reduce risks and attract investment
- Strategic partnerships with academic institutions and industry experts
- Access to prototyping and demonstration facilities for real-world testing and scaling
- Structured curriculum
- A network of expert mentors and a committed Advisory Council
“This accelerator demonstrates the power of uniting diverse expertise, resources, and communities to address one of the most pressing challenges of our time,” said Tricia Compas-Markman, director of National Venture Programs at VentureWell. “By leveraging partnerships and expanding our network, we’re ensuring broader participation and deeper impact.”
The Ocean Enterprise Accelerator is poised to generate measurable economic benefits, supporting the growth of ocean-based climate resilience startups and creating jobs nationwide while driving sustainable solutions for climate adaptation.
Read more about this groundbreaking initiative.
About VentureWell
VentureWell supports the cultivation of an emerging generation of science and technology inventors and the innovation and entrepreneurship ecosystems that are critical to their success. Since its founding in 1995, VentureWell has funded or trained over 18,000 science and technology inventors and innovators, resulting in the emergence of nearly 5,000 ventures with groundbreaking technological advancements in fields like biomedicine and healthcare, sustainable energy and materials, and solutions for low-resource settings. The startups they have supported have raised subsequent funds totaling more than $6.4 billion and are reaching millions of people globally.
Visit venturewell.org to learn more.