The Organisation for Economic Co-operation and Development (OECD) highlights the importance of our ocean and marine environment in its recent report, The Ocean Economy to 2050. Spanning 71% of our blue planet, the ocean makes up 90% of our biosphere, provides food security for over 3 billion people, facilitates the transport of 80% of global goods, and hosts undersea cables that carry 98% of international internet traffic. If the ocean economy were a country, it would be the fifth-largest economy in the world. Between 1995 and 2020, the global ocean economy doubled in real terms from $1.3 trillion to $2.6 trillion, accruing an annual growth rate of 3% and representing 3%-4% of the global economy.

But the future of the ocean economy is far from certain. Climate change, environmental degradation, and biodiversity loss exacerbate existing vulnerabilities. However, there are also immense opportunities for growth and investment, from offshore renewables to marine biotechnology to eco-tourism. Sustainable growth demands a shift from overexploitation to regeneration, equity, and innovation.

Startups and small and medium-sized enterprises (SMEs) can help lead this transition. Their agility, creativity, and mission-driven focus provide them with the tenacity and unique, on-the-ground perspective to solve these pressing challenges with novel solutions.  In order for these companies to succeed and help us build a more sustainable and resilient future for the ocean economy, governments and non-governmental organisations (NGOs) need to provide critical support.

Supporting innovation and digital transformation in the blue economy

The​​ OECD report identified four interdependent strategic priorities for achieving a productive and environmentally sustainable ocean economy, including:

• Strengthening ocean governance and regulatory frameworks
• Promoting technological innovation and digital transformation
• Enhancing ocean observation data collection and scientific research
• Expanding developing countries' participation in the ocean economy while safeguarding against environmental harms

With regards to the promotion of technological innovation and digital transformation, the report highlighted the role of governments in promoting public and private investment in Information and Communication Technology (ICT)-driven solutions, automation, and robotics to enhance productivity and reduce environmental impacts across the ocean sectors. This includes supporting digital tools for aquaculture, shipping, marine energy, and ecosystem monitoring – to name a few. 

That being said, it is important to note that ICT should be seen as a part of a broader suite of solutions, rather than as a silver bullet for solving all of the complex challenges the sector faces. Achieving sustainable outcomes will require the integration of these technologies with innovative practices in other areas, such as policy, conservation, and research.

Achieving this requires significant investment in workforce development, upskilling and reskilling workers to adapt to an increasingly digital and automated marine economy. It also means bolstering innovation ecosystems, such as maritime clusters and ocean tech hubs, to foster cross-sector collaboration, share infrastructure, and scale solutions faster.

Startups and SMEs have the potential to play a pivotal role in advancing innovation within the blue economy. Their agility, willingness to take risks, and capacity to quickly pilot new technologies position them well to explore emerging opportunities, such as digital innovations, circular economy models, and breakthrough technologies.

However, realising this potential depends on the receipt of adequate support. Targeted investment, policy incentives, and robust innovation ecosystems, such as maritime clusters and ocean tech hubs, are essential to enable startups to scale solutions, share infrastructure, and collaborate across sectors. With this foundation in place, startups can become essential partners in building a more sustainable and resilient ocean economy.

Startups & SMEs as job creators in the blue economy

Startups and small to medium-sized enterprises (SMEs) can also play a key role as job creators and employers in the blue economy, particularly in emerging markets.

According to the World Bank, SMEs account for 90% of all businesses and contribute over 50% of total employment globally. In emerging economies, SMEs provide seven out of every 10 formal jobs. Given that 600 million new jobs will be needed by 2030 to meet global workforce demands, supporting SME growth makes good sense for policymakers and investors.

In the context of the blue economy, startups and SMEs can help create sustainable livelihoods while addressing environmental challenges. Job creation through these enterprises can strengthen communities by boosting economic growth, reducing poverty, and enabling more inclusive participation in emerging sectors and coastal communities.

As employment rises, so can incomes, consumer demand, and public revenues, fuelling better healthcare, education, and infrastructure. Beyond just numbers, job creation is about building opportunity, resilience, and long-term prosperity for our societies.

Examples of Startups & SMEs driving change in the ocean economy

To bring these ideas to life, it's important to highlight real-world examples of startups that are positively impacting the blue economy. The following three companies demonstrate how mission-driven innovation can deliver both environmental and economic outcomes:

• Signol: Using its​​ behaviour change service software, Signol has helped seafarers in the shipping industry reduce fuel consumption and CO2 emissions. In a 6-month trial, the startup helped the Christiana Shipping company save more than 250 metric tonnes of fuel and avoid the production of 720 metric tonnes of CO2. This also helped the shipping company save $150,000 on its fuel bill and a further $48,000 in regulatory costs
• Ocean Bottle: Ocean Bottle was founded to help address ocean pollution while empowering the coastal communities most affected by it. The sale of each bottle funds the collection of the equivalent of 11.4kg of ocean-bound waste (or 1,000 plastic bottles) while providing jobs, funding, and other benefits to plastic collectors in coastal communities. To date, they have removed over 20M KG of ocean-bound waste and supported over 6,000 families around the globe
• ALTFIBR: Originally launched in 2014 as Algas Organics in Saint Lucia, the company began by converting invasive sargassum seaweed into organic fertiliser, helping coastal communities tackle an escalating ecological nuisance. In 2024, it spun out ALTFIBR to create near carbon-neutral alternatives to wood pulp using agricultural waste like banana stems, seaweed, and pineapple leaves. In response to the EU’s new deforestation regulations, ALTFIBR quickly secured letters of intent from major pulp users and partnered with Georgia Tech and the University of Maine to scale a kraft-compatible extraction process. Its materials plug directly into existing infrastructure for paper, packaging, and textiles, delivering low-carbon, high-performance fibre without retooling

Startups and SMEs need ecosystem support to create real impact

As we can see from the above, startups and SMEs have proven their potential to drive sustainability and resilience in the blue economy. Their agility allows them to respond quickly to emerging challenges, introduce breakthrough technologies, and create new market opportunities. However, they face significant barriers such as limited funding, complex regulations, restricted market access, and lower visibility compared to larger players.

To overcome these challenges, they need support from a broader ecosystem that includes governments, corporations, investors, academia, NGOs, and communities. When we collaborate, everyone stands to gain, or as the old saying goes, a rising tide lifts all boats. Governments, for example, can tap into innovative and cost-effective solutions for public priorities, from ocean monitoring to coastal resilience, while shaping future-fit policy through real-world insights. In return, startups benefit from clearer regulations, access to public procurement, and increased legitimacy. With the right frameworks in place, governments can help early-stage innovators scale their solutions where they are needed most.

Likewise, corporates and investors can offer catalytic, patient, or speciality risk capital, alongside expertise and market access. In return, startups bring agility, fresh thinking, and access to emerging technologies, helping larger organisations reduce innovation risk, diversify supply chains, and remain competitive.

Academic institutions provide the scientific foundation that supports sustainable solutions. Collaborating with entrepreneurs gives their research practical relevance, while startups gain access to critical knowledge. NGOs can offer community trust and local insight, strengthening implementation and deepening impact. Startups benefit through field access, validation, and stronger community alignment.

Citizens are not just end users, but also essential co-creators. Engaging communities ensures that solutions reflect real needs and are more likely to be adopted long-term.

The challenges facing our ocean and the communities that rely on it are too complex to tackle in isolation. Open, cross-sector collaboration is essential to accelerate innovation and build a sustainable, inclusive, and resilient blue economy.

Conclusion

Startups and SMEs can offer bold ideas, fresh energy, and a deep commitment to solving urgent challenges our ocean and communities face. However, to realise their full potential in the ocean economy, they cannot go it alone. The path to a more sustainable, resilient, and inclusive future depends on how well we support and connect these changemakers across sectors and systems.

We have a chance to redefine our relationship with the ocean and each other. If we invest in innovation, foster collaboration, and create the right enabling conditions, we can find new opportunities for economic growth, regeneration, equity, and shared wellbeing.

Whether you're a policymaker, investor, scientist, entrepreneur, or citizen, you have a role to play. The ocean has always taken care of us. It’s time we return the favour by working together to build a future where we can thrive.

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