How Atlantic Canada’s ‘Blue Economy’ Is Punching Above Its Weight On The Global Stage
HALIFAX – Five years ago—heck, even as recently as two years ago—all kinds of people thought the ocean economy was a niche market.
It used to drive Eric Siegel crazy. Actually, it still does. The executive-in-residence at the Ocean Startup Project says some people still don’t realize the breadth and scope of the ocean economy.
But that’s changing quickly.
“If you breathe, eat, or shop, you rely on the ocean,” Siegel told Huddle in a recent interview.
From the millions of tons of food produced and collected from the ocean every year, to the carbon sequestering possibilities it presents, to the shipping enterprises that make global trade possible, the ocean economy is vast.
And as climate change becomes an ever-more pressing and visceral part of our lives, the “blue economy” is only growing more important.
To hear Siegel tell it, our small corner of the world, Atlantic Canada, is among the world leaders contributing to blue economy advances.
‘Significant momentum’ in the blue economy
The Ocean Startup Project is a multi-stakeholder organization dedicated to growing ocean tech companies and attracting more ventures to Canada’s ocean startup ecosystem.
Each year, it runs the Ocean Startup Challenge, which gives funding and mentorship to early-stage ocean technology companies.
Laurie Snell, the Ocean Startup Project’s communications director, says increasing interest in the challenge shows how quickly the blue economy is growing. Snell says the Project was “overwhelmed” by the response to this year’s challenge. In total, 90 companies from across the country submitted pitches.
“That’s 90 new companies entering the ocean tech pipeline… Most of these names are entirely new to us and really signal to us significant momentum in the blue economy,” Snell said in an email.
Atlantic Canada ‘punching above its weight’
Siegel says the Atlantic region plays a major role in that momentum and that it’s “punching above [its] weight” in the blue economy. Considering the region’s position compared to global players like the United Kingdom, the US, or China, it’s an impressive feat.
“Compared to our GDP and our population, we really are competing with some of the top geography,” he says.
For years, the region has been quietly churning out blue economy research at institutions like The Centre for Ocean Ventures and Entrepreneurship, and the Verschuren Centre for Sustainability in Energy and the Environment.
But Siegel says things have really taken off in the past few years as researchers in Atlantic Canada have become more comfortable taking their ideas commercial.
“I think what’s happening more recently is the recognition that the impact of the research can be amplified through commercialization,” he says.
More researchers have realized they don’t have to focus exclusively on academia. Instead, they’re taking advantage of the pace and resources available in private industry.
“A decade ago, it was kind of like moving to the dark side when you went from research to industry [but] that’s changing broadly,” Siegel says.
With that trend, Siegel says he sees more homegrown startups forming in Atlantic Canada, as well as more large, multinational firms setting up shop in the region. Together, these developments are creating a “big ecosystem” of blue economy research that’s putting Atlantic Canada on the global map.
And Siegel says it will be through research that Atlantic Canada will make the greatest impact in the fight against climate change.
“If Atlantic Canadians all start driving electric vehicles and eating tofu it will make a small dent on the climate, but it’s not going to make a big difference because our population is too small. But if we use our brains and economic power, we can really make a big difference,” he says.
‘Not just fishing and shipbuilding’
To put even more momentum behind Atlantic Canada’s blue economy ecosystem, Siegel says organizations like the Ocean Startup Project must also start better communicating the opportunities that are available in the ocean tech field.
“What we need to do is make sure people know that if we talk about going into the ocean field it’s not just going on boats and catching fish; it’s not just welding steel frames; it’s not just fishing and shipbuilding,” he says.
With so much innovation happening in the ocean sector, Siegel says graduates in math, physics, or computer science can all have “really impactful” careers.
“It’s pretty common for people to graduate and their main aspiration is to go work for Facebook or Twitter. And those are good goals. But they can have a really rewarding technical career and make an impact at the same time in the ocean sector.”
Trevor Nichols is the associate editor of Huddle, based in Halifax. Send him your feedback and story ideas: [email protected].