Now in its second year, The Ocean Impact Pitchfest is proving that abundant solutions are out there and investor appetite to support ocean impact is increasing. Founded by entrepreneur Nick Chiarelli and environmentalist Tim Silverwood (ex-CEO of Take 3 for the Sea), The Ocean Impact Pitchfest is an initiative of Ocean Impact Organisation (OIO).
“GIVEN HOW FUNDAMENTALLY IMPORTANT A HEALTHY OCEAN IS OF OUR OWN SURVIVAL, THERE WAS A GAPING HOLE AND A HUGE OPPORTUNITY FOR AUSTRALIA TO BECOME A GLOBAL LEADER IN ACCELERATING SCALABLE OCEAN SOLUTIONS.”
With $150,000 in cash prizes and $150,000 of additional products and support from OIO and their partners, startups and entrepreneurs are encouraged to apply for the chance to accelerate their ocean impact and help to improve the health of Planet Ocean.
Last year's inaugural Winner of The Ocean Impact Pitchfest was Planet Protector Packaging, an innovative Australian company using waste wool to create ‘Woolpack’, an alternative to expanded polystyrene packaging (EPS) that has so far prevented 7 million EPS boxes from entering landfill or the ocean.
OIO is also launching the HP Generation Impact Incubator this year, a new program for young (35 and under) innovators residing in Australia with an idea to transform ocean health. OIO says there is “no time to waste” in radically accelerating new innovations, investment and collaboration to help transform ocean health. Nick Chiarelli says:
“WE DEVELOPED OIO TO HELP PEOPLE START, GROW AND INVEST IN BUSINESSES THAT POSITIVELY IMPACT THE OCEAN. I’D SEEN ALL MANNER OF STARTUP ACCELERATORS AND INCUBATORS EMERGE FOR SPECIFIC AREAS LIKE FINTECH, MEDTECH, REGTECH ETC BUT NOTHING EXISTED FOR THE OCEAN.
GIVEN HOW FUNDAMENTALLY IMPORTANT A HEALTHY OCEAN IS OF OUR OWN SURVIVAL, THERE WAS A GAPING HOLE AND A HUGE OPPORTUNITY FOR AUSTRALIA TO BECOME A GLOBAL LEADER IN ACCELERATING SCALABLE OCEAN SOLUTIONS.”
With the latest IPCC report ringing in the ears of world leaders as they ready for the upcoming COP26 Summit in Glasgow, demands to reach net zero and diversify industries away from fossil fuels and towards renewable and regenerative industries, will only get louder.
The ocean, previously a source of prosperity and pollution, should quickly become a playground for opportunities to reduce fossil fuel dependence and commence the enormous task of drawing down atmospheric carbon pollution.
Pitchfest 2021 is accepting applications from the 10th August, with applications closing on September 21st 2021 and the Winners announced on November 4th. For more information or to apply, go to Pitchfest 2021.