Atlantic Canada’s Blue Economy Ecosystem Named 8th Strongest Worldwide
(Dubai, UAE) With the backdrop of the world’s most important convention on climate, a new global report demonstrating the interconnectivity of the blue economy with clean and climate technologies was released. The Global Startup Ecosystem Report – Climatetech Edition was officially launched by Startup Genome and the Global Entrepreneurship Network today together with their partners Canada’s Ocean Supercluster, Cleantech Group, La Zone Bleue, and Mississippi Development Authority at COP 28. The report focuses on current startup activity, investments, and rankings identifying the global ecosystems propelling innovation. The full report is now live and free to access.
The world is increasingly focused on the blue economy given its interconnectedness to some of the biggest challenges that face humanity and the planet:
- The OECD projects the blue economy will outpace the broader global economy by 20 per cent by 2030.
- A recent report by the High-Level Panel for a Sustainable Ocean Economy indicates that up to 35 per cent of emissions reduction can come from the ocean.
- Offshore renewables are critical in the world’s energy transition to cleaner, more sustainable sources of power
- As the world’s population grows, the demand for sustainable protein is increasing and seafood consumption is expected to double by 2050.
- Ocean technologies to help decarbonize marine shipping are contributing to significant emissions reductions where businesses, such as Apple, may increasingly consider this form of shipping over others.
- Regional ocean innovation hubs, ocean clusters and superclusters are growing in Canada and world-wide to harness the opportunity the new blue economy presents.
- Canada’s Ocean Supercluster has released a five times growth ambition for Canada called Ambition 2035 which would see the blue economy increase from 1.6 per cent of Canada’s GDP to more than 5 per cent.
The new global report provides key findings, including Canadian rankings in the Blue Economy and Climatetech:
- In world rankings, Singapore remains the world-leading startup ecosystem for the blue economy. There were four countries which have two ecosystems in the top 25 blue economy rankings including Canada, Denmark, Germany, and the U.K. The inclusion of Canada and Denmark on this list is notable given their smaller populations and market size relative to Germany and the U.K.
- For the Strongest Blue Economy Ecosystem Atlantic Canada ranks 8th globally (and top 5 in North America), with Vancouver ranked 14th and Toronto-Waterloo coming in under the top 30 best blue economy ecosystems. As a top accelerator in North America, the Ocean Startup Project receives special mention in the report – a pan-Canadian project under Canada’s Ocean Supercluster which has supported almost 100 new ocean companies get a start in Canada in the last 3 years, and with the aim to make Canada the best place to start an ocean company.
- For top 5 Cleantech Ecosystems in North America, Vancouver takes the fifth ranking.
- Calgary and Edmonton were the top 2 Ecosystems to Watch in North America.
- Europe has surpassed North America in its share of blue economy Series A funding.
About Canada’s Ocean Supercluster (OSC)
Canada’s Ocean Supercluster accelerates the development and commercialization of made-in-Canada ocean solutions in energy transition, food security, future of transport, and climate change while also growing more companies, creating more jobs, and attracting ocean talent. As Canada’s national ocean cluster, the OSC is a convenor of members, partners, and networks and a catalyst for transformative growth that helps build the robust ecosystem needed to help realize Ambition 2035 – a 5X growth potential in ocean in Canada by 2035. To date, the OSC has approved more than 90 projects with a total value of more than $400 million which will deliver more than 200 new made-in-Canada ocean products, processes, and services to sell to the world. For more information visit oceansupercluster.ca
Kendra MacDonald, CEO, Canada’s Ocean Supercluster:
“We are a proud partner in this new global report on the interconnectedness of climate tech and the blue economy. As a catalyst for accelerated growth in ocean and a convenor of Canada’s ocean network, we are even more proud of the demonstrated momentum and gains in global rankings we are seeing. From our pan-Canadian Ocean Startup Project to our portfolio of more than 90 ocean innovation solutions involving 300 partners from across the country, more than 200 new ocean products, processes, and services are being delivered to the world and helping increase Canada’s competitiveness.”
“If you look at what’s happening in clean tech, climate tech, and blue tech today, it’s the ocean which is at the heart of not only solving some of the biggest challenges the world is facing, but also in creating some of the most significant, sustainable economic opportunities now and for the future.”
“Here at COP28 our message is one around the sense of urgency that is required around the blue economy. It is critical for us as a country and a planet that we prioritize our ocean because without it, we will not achieve our net-zero ambitions or achieve the kind of economic growth that is very much needed.”
Canada’s Ocean Supercluster