If I asked you to pick three US cities with the strongest “ocean” vibes, you would probably name San Diego, Miami, LA, maybe even Boston. New York likely wouldn’t cross your mind - but that may be changing. In the past few years, NYC has emerged as a rapidly growing leader in climate and ocean tech. From its early origins as a major port, to the thriving regional aquaculture industry, to its pole position in the national push for offshore wind (not to mention year round surfing in Far Rockaway), the city has numerous factors contributing to its history and growth as an ocean hub.
With this in mind, on May 16th and 17th, I co-hosted the first ever New York City OceanTech Summit. Taking place in the picturesque South Street Seaport neighborhood of Manhattan, the event brought together ocean innovators, entrepreneurs, investors, and enthusiasts from the NYC tri-state area, as well as representatives from the professional sailing community who were in town for the start of the New York Vendée sailing race.
My collaborators, Will Lutz of the BlueX newsletter and Delaney Demark of Seaking Blue, and I designed the event with two main goals in mind: 1) to bridge the gap between academic and commercial innovators in the region, and 2) to introduce generalist and climate investors to ocean tech investing. To this end, the event was split into two days, each with its own focus. Over 200 people were in attendance across both days.
Day 1: Innovators' Day
The first day of the Summit, Innovators' Day, was dedicated to highlighting the pioneering work of scientists, innovators, and entrepreneurs in the OceanTech ecosystem. The evening programming began with a highly anticipated “Three Minute Thesis” pitch competition. Researchers from various institutions, including Columbia, Stevens, and the US Merchant Marine Academy, and some very early startups presented their latest discoveries in ocean science and technology, competing for a prize pool of $1000. The presentations were diverse, covering topics such as desalination, ocean fertilization, and wind propulsion for ships. Joining me as competition judges were Dr. Susan Schofer from SOSV/HAX and Andrew Chang from Activate New York, whose expertise in academic technology commercialization was ideally suited for the task.
Following the competition, the Startup Innovation Expo opened its doors, featuring a dynamic mix of early stage ocean tech companies ranging from zinc-air batteries for shipping (Metal Light) to microplastic removal (Polygone) to undulating amphibious robots (Pliant Energy Systems). The Expo facilitated targeted networking, allowing participants to connect with local ocean talent and explore potential collaborations. The energy in the room was palpable, as ideas were exchanged, and new partnerships were formed.
Day 2: Investors' Day
Day 2, Investors' Day, focused on bridging the gap between ocean enthusiasts and potential investors. The afternoon commenced with an interactive keynote address delivered by Ted Janulis of Investable Oceans. Ted's keynote crowdsourced insights into the NYC bluetech ecosystem, highlighting opportunities and challenges unique to the NYC innovation landscape.
This was followed by a roundtable panel discussion, moderated by Will. The panel featured an impressive lineup of investment thought leaders, including Morgan Hitzig from Venrock, Struan Coleman from WWF, George Northcott from Founders Factory and the Blue Action Accelerator, and Adam de Sola Pool from Blue Angels and Clean Energy Venture Group. The discussion touched on the critical needs of the investment ecosystem and explored strategies for making impactful investments in this sector.
The Summit was made possible by the generous donation of space and logistical support from Wind Support NYC as part of their New York Vendée programming, as well as financial support from Activate NY, Investable Oceans, and Newlab. Over the two days, attendees were treated to a wealth of knowledge, networking opportunities, and inspiration. Keep an eye out for the next big wave of oceantech events at NYC Climate Week, coming up this September.