From seaweed farming to marine biotechnology, startups are reshaping the blue economy by combining sustainability, technology, and local livelihoods
The blue economy is the sustainable utilisation of ocean resources to promote socio-economic development, climate resilience, and the maintenance of ecosystem balance. Oceans contribute approximately US$2.2 trillion annually to the global economy, based on 2023 estimates by UN Trade and Development and are expected to exceed US$3 trillion and generate 40 million jobs by 2030, several of them in startups and innovative entrepreneurial ventures. Startups are increasingly playing a central role across blue economy sectors, including sustainable aquaculture, coastal biotechnology, tourism, and marine renewable energy. This evolving startup ecosystem is creating opportunities for value addition, innovation, and job creation.
Initiatives such as the 1000 Ocean Startups, which aim to support and scale at least 1,000 high-impact ocean-based startups by 2030, and increasing investments in ocean technology and blue economy startups (US$728 million in 2025) highlight a strategic commitment to mainstream the blue economy. Europe has 159 blue economy funds aggregating to more than €14 billion. In India, while the blue economy contributes nearly 4 percent to the GDP, the ocean technology market is valued at US$13.2 billion. Yet, India’s blue economy startup ecosystem remains nascent, with only a limited number of specialised ventures, reflecting a broader global trend. Globally, countries need to drive the growth of blue economy startups by addressing persistent structural challenges in infrastructure, skills development, access to finance, and inclusive decision-making.
Startups are helping the blue economy transition from traditional extractive models to innovative value-added approaches. They are expanding into high-growth sectors, including marine-derived bioproducts, biopharmaceuticals, biofuels, renewable energy, and sustainable aquaculture. Companies such as the Sweden-based Eco Wave Power utilise ocean waves to generate electricity. Norway-based Blueye Robotics is developing underwater robotics for ocean exploration and monitoring, while seaweed farming in Zanzibar, Tanzania, employs approximately 30,000 individuals, 80 percent of whom are women.
Startups are helping the blue economy transition from traditional extractive models to innovative value-added approaches.
The rapid growth of emerging markets highlights the expansion of new segments, with the global seaweed market, buoyed by increased interest from impact investors and climate finance mechanisms, reaching US$17 billion in 2021, with applications in food, biofuels, cosmetics, and bioplastics. Blue economy startups are also expanding into circular-economy and micro-enterprise models, combining coastal livelihoods with value-added processing, carbon capture, and market integration to create viable, scalable business models. As the sector grows, ensuring sustainability, regulatory compliance, and equitable benefit-sharing will be critical to preventing overexploitation.
Despite the potential, blue economy startups remain largely concentrated in informal, low-value activities. To address this gap, the government has introduced a range of national and ministerial initiatives to strengthen the supportive ecosystem. For example, the Pradhan Mantri Matsya Sampada Yojana (PMMSY) aims to modernise fisheries infrastructure, increase productivity, and strengthen the value chain, while the Sagarmala Programme supports port-led industrialisation to enhance coastal economies. Initiatives such as the Deep Ocean Mission and Startup India promote innovation, research and entrepreneurship, focusing on emerging blue economy domains. Overall, these initiatives are laying the foundation for an organised, innovation-driven blue economy.
Recent examples indicate this shift. In Maharashtra, pilot seaweed-farming projects have increased coastal incomes by up to 30 percent, with 45-day production cycles. Fish farmers and women’s self-help groups (SHGs) are diversifying into processing, cage aquaculture, and market-integrated enterprises with government support. Institutional collaborations, such as with the Council for Scientific and Industrial Research-Central Salt and Marine Chemicals Research Institute (CSIR-CSMCRI), have enabled the scaling up of seaweed-based production and integration into formal supply chains. Beyond fisheries, emerging opportunities in marine biotechnology, ocean-based digital services, renewable energy, and sustainable coastal tourism are expanding the scope for India’s blue economy startups.
In many coastal regions, women are actively involved across the value chain from seaweed farming and marine tourism to fish processing and value-added enterprises. Women account for 21 percent of the global fisheries and aquaculture workforce. In small-scale fisheries, women account for 47 percent of total employment, particularly in post-harvest roles, while the landed value of fish caught by women contributes an estimated US$5.6 billion annually to the global economy.
Studies demonstrate that increasing women’s participation and leadership in blue economy initiatives can strengthen economic growth, improve sustainable resource management, and improve community resilience.
Women are also increasingly driving innovation, with nearly 40 percent of global seaweed startups led by women, particularly in food and nutrition, cosmetics, biomaterials, and bioplastics. Globally, companies such as Loliware, cofounded by Chelsa Briganti and Sway Innovation, and led by Julia Marsh, are recognised for developing seaweed-based alternatives to single-use plastics. In India’s Uttar Pradesh, initiatives such as the Blue Revolution and Mission Shakti have successfully expanded small-scale pond-based fish farming into profitable businesses. In Vizianagaram, women-led self-help groups are adopting cage-fishing, value addition, fish processing, and marketing networks to improve market access. Studies demonstrate that increasing women’s participation and leadership in blue economy initiatives can strengthen economic growth, improve sustainable resource management, and improve community resilience.
Besides limited access to credit and skill and capacity gaps, small-scale enterprises often face regulatory and governance barriers, limited market linkages, poor integration into formal value chains, and a lack of access to data and information. Inadequate infrastructure, combined with environmental and climate risks, adds to the uncertainty.
These challenges are more prominent for women, with more than 50 percent of women entrepreneurs reporting insufficient financial access. Despite their significant role, women also continue to face institutional, societal, and cultural constraints. In addition, entrepreneurs often lack social protection mechanisms, making them vulnerable to financial losses.
To encourage entrepreneurship in the blue economy, stakeholders and policymakers must prioritise the following targeted actions:
Building a resilient and inclusive blue economy requires providing entrepreneurs with adequate financial, social, technical, and market access, as well as inclusive growth, with women taking up entrepreneurship and decision-making roles.
The blue economy is increasingly being shaped by startup-led innovation and enterprise development. Building a resilient and inclusive blue economy requires providing entrepreneurs with adequate financial, social, technical, and market access, as well as inclusive growth, with women taking up entrepreneurship and decision-making roles.
Poornima V B is a Research Assistant at the Observer Research Foundation.
The views expressed above belong to the author(s). ORF research and analyses now available on Telegram! Click here to access our curated content — blogs, longforms and interviews.
PREV
