San Diego Launches Business Incubator to Grow Blue Tech Industry
City Pledges $50k to put San Diego Front and Center for Blue Tech Innovation Across the Country & Globe
Tuesday, October 24, 2017 - NEWS RELEASE
San Diego – Continuing efforts to strengthen San Diego’s reputation as an international hub for innovation and research, Mayor Kevin L. Faulconer today announced the City of San Diego has awarded The Maritime Alliance a $50,000 grant to launch a Blue Tech incubator designed to grow ocean- and water-based industries and put San Diego front and center globally for blue technology.
“We here in San Diego have a natural affinity with the ocean so it makes all the sense in the world that we continue to foster our burgeoning Blue Tech economy,” Mayor Faulconer said. “This new business incubator is going to provide the tools needed to spur the development of young companies with the potential to harness the ocean to create a cleaner and more sustainable planet for us all.”
Launching this week, the incubator will help young companies gain access to the support, products and services they need to succeed in the Blue Tech industry. With support from the City of San Diego and key industry partners, the incubator will provide business management assistance, mentorship, legal support, access to capital and other resources to foster their development.
“San Diego is a hub for innovation, and this incubator will support the continued growth of the Blue Tech sector as a major regional economic driver,” said City Councilmember Barbara Bry. “The participating companies not only create jobs and tax revenue, they are pushing forward technologies that protect our oceans and water supply.”
The incubator is located at the office of Dentons U.S. in La Jolla and programming is supported by the $50,000 City grant. The Maritime Alliance is also collaborating with UC San Diego and the Scripps Institution of Oceanography.
“This is a pivotal moment for San Diego’s Blue Tech cluster as we proactively bring together the resources and subject matter experts to support innovation in ocean and water technologies, and we’re pleased to have the support from the City of San Diego, Dentons and Scripps Institution of Oceanography,” said Michael Jones, President of The Maritime Alliance. “The launch of our Blue Tech incubator is the result of partners working together to achieve a vision that further elevates San Diego’s international reputation as a leading Blue Tech cluster and promotes sustainable usage of the ocean.”
The incubator will begin by hosting six companies – Clear Blue Sea, Delawarde Consulting, Intellecy, Hydrokinetic Energy and Storage, MARSEC and XST. Those companies are tackling ocean pollution, finding ways to harness energy from ocean waves, developing sensors for residential water monitoring, creating software that provides meteorological and oceanographic tools for navigation, and shaping the digital future of the maritime industry.
“Instead of importing the world’s problems, we need to be developing and exporting solutions,” said Greg Murphy, Executive Director of The Maritime Alliance. “We need to be working with our international partners through the BlueTech Cluster Alliance, which we helped launch in January 2017 with nine clusters from seven countries, to efficiently introduce sustainable new products and services globally.”
San Diego’s Blue Tech industry employs tens of thousands of people and generates an annual economic impact of roughly $14 billion.