Thriving in the Blue Economy | Sea to Sale
Recorded August 13, 2024
This webinar explores the growing blue economy and highlights organizations focused on helping seaweed entrepreneurs succeed. Featuring speakers from Sustainable Ocean Alliance, Third Nature Investments, and Keel Labs, the session provides insights into funding opportunities, investment strategies, and entrepreneurial advice for those in the seaweed industry.
Chapters
00:00 – Introduction to the Blue Economy
Overview of GreenWave’s programs and the untapped potential of the blue economy
15:40 – Sustainable Ocean Alliance’s Support Programs
Details about SOA’s ecopreneur network, funding opportunities, and portfolio of seaweed startups
30:20 – Investment Strategies in the Seaweed Economy
Third Nature Investments’ approach to blue economy investing and challenges in the sector
38:30 – Keel Labs’ Journey
How Keel Labs developed their seaweed-based fiber business and key milestones in their growth
54:45 – Industry Challenges and Advice
Discussion of consumer awareness, market development, and practical advice for seaweed entrepreneurs
59:15 – Q&A and Resources
Responses to audience questions about seaweed market potential and available support programs
Transcript
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Welcome, everyone.
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Happy Tuesday. Um, I’m so excited you’re joining us
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for our final session in our 2024 C to sale series.
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Today you’ll hear from folks leading the charge in the blue
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economy, um,
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and we’ll send you off with resources, opportunities,
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and information to help you scale
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your emerging seaweed business.
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Just in case you don’t already know me,
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my name’s Grace Collary
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and I’m the senior Market Development Program
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manager here at GreenWave.
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We’re kicking it off with some introductions in the chat,
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so if you haven’t had a chance to say hello, uh,
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please go ahead and post your name, your current
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or intended roles in the industry
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and where you’re joining us from.
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I’ll run through just a few logistics in the meantime.
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So once I hand it over to our speakers, um,
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we’ll be closing the chat
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and we encourage you to post all
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of your questions using the q and a function on Zoom.
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Um, you’re welcome to ask questions throughout
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what the webinar and we’ll be sure to save time at the end,
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um, to answer all of those with our speakers.
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And lastly, make sure you look out for our follow-up email
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where we’ll share the recording of the session
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and, um, other resources, uh,
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that were mentioned in the session.
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So today we’re just so incredibly lucky
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to have three outstanding speakers.
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Um, first Camila Vega from Sustainable Ocean Alliance
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will provide an overview of SOAs programs
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and opportunities, um,
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for ocean entrepreneurs and change makers.
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Then, um, Jason Engle
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of Third Nature Investments will walk us
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through his blue economy investment strategy.
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And finally, Alex Chesky will share KE Lab’s growth story
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and offer advice for fellow entrepreneurs.
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As I mentioned, we’ll have about 15 minutes at
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the end for q and a.
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Um, so please ask lots
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of questions today.
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Um, we’re focused not just on the new blue economy,
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but specifically organizations within the new blue economy
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who want to help you succeed.
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Um, although it’s sometimes eclipsed
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with a greater focus on the green economy,
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the new blue economy holds massive un untapped potential,
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um, and there’s really a renewed interest.
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Um, the OECD predicts
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that the ocean economy may double in size
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to 3 trillion by 2023.
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So as a company bringing regeneratively farmed kelp
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to market, you can really be on the forefront
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of this massive new movement.
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Um, here I’ve listed just a sample
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of Blue Economy accelerators, programs, fellowships,
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and financing opportunities.
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Um, as I said, this is just a sample
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and if I listed all of them,
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it would be much too long for a slide.
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Um, but if you’re on the Green Wave Hub community,
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you’ve probably seen posts about these opportunities
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as they arise today.
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I’ll mention just a few, um, beyond our incredible speakers.
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So our friends at the Gulf
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of Maine Research Institute have an open call
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for applications for their Blue Tech
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Boost Incubator program.
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Um, and I also really recommend checking out opportunities
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for government grants and funding.
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Um, currently the USDA is accepting applications
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for the small business innovation research
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and small business technology transfer programs.
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Um, and we’ll go ahead
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and share all those opportunities in the chat in case
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you want to learn more.
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And speaking of organizations
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who are invested in your success, um,
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GreenWave is definitely on that list.
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So beyond the series in our other freak programming,
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we offer extensive support
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to help companies in the seaweed value chain.
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If you’ve joined us for this entire series, um,
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you definitely have a solid understanding of what it takes
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to bring kelp to market,
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and you might even be ready
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to create your strategic sourcing strategy.
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If that’s you, we really encourage you to apply
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for Seaweed Source, which I know I’ve mentioned before, um,
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but I haven’t had the chance to take you
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all through it in detail.
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So Seaweed Source is a free app that streamlines connections
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between any business in the seaweed value chain, um,
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which means active hatcheries, farms, processors
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and buyers qualified companies can share their supply
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or purchasing needs, learn about the market ecosystem
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and tap into opportunities for growth
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and collaboration to ensure users on the app are, um,
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active businesses.
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Companies must apply and Greenway verified
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its Everly application.
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Um, so it’s a really powerful ecosystem
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and community to be a part of.
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Here’s just a quick preview of the Seaweed Source homepage,
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um, and you’ll notice that the app enables you
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to find key partners.
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You can search and filter by keyword,
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company name species and more.
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Um, and here’s just a look at the side-by-side view of map
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and the business card page.
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Um, and you’ll notice that companies are operating across
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the United States and Canada,
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which are current geographies of focus.
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And then lastly, here’s a profile, um,
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or a preview of what the company profiles look like.
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Um, you can see what companies source
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or supply their capacity, their species of focus,
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and you also have the option
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to directly message organizations one-on-one,
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or you can post a listing
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to notify all companies on the app about an opportunity if
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you have, um, some seaweed to sell
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or you wanna make a purchase.
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And beyond this, GreenWave also offers, um,
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free value chain coordination services to businesses looking
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to set up kelp supply chains.
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So, um, we can actually directly connect you with farmers
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and suppliers who meet your needs
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and support you in developing a long-term sustainable
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and scalable supply.
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Um, so with that, let’s go ahead
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and pass it off to some opportunities outside of GreenWave.
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Um, and our blue economy experts will share their advice for
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how to find, apply
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and leverage opportunities available to you.
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Um, so first I am so excited to welcome Camille Vega,
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who’s an entrepreneur with a background in social
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impact startups.
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She’s the solutions portfolio manager at Sustainable Ocean
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Alliance, where she empowers Ocean tech founders
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to help drive innovation in the sustainable blue economy.
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Over to you.
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Thank you so much, grace,
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and thank you everyone for being here today.
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It’s a pleasure to be connected
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and appreciate your time today.
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Um, as Grace mentioned, my name is Camina Vega.
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Um, here to share a little bit background about
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Sustainable Ocean Alliance.
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You can see here, um, the company was started back in 2014
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by our founder Daniella Fernandez,
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and with the onus to really pres work to preserve
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and protect the future of our ocean.
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So far since 2014, we’ve been able
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to support over 382 solutions
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across all different impact areas,
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which I’ll dive in a little bit more, uh, grace.
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Next slide please. So at Sustainable Ocean Alliance,
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we have two approaches.
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One is to support investing in people
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and as well as funding in solutions.
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So we’re working to not only amplify
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and support startups as well
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as community-led nonprofit projects all around the world.
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So the people side is more focused around
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bringing forward innovation
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and supporting our young ocean leaders across multiple hubs
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all around the world as they focus on key projects
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that are important to their local communities.
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And then we have the solution side, which is my role
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focusing on supporting for-profit ocean tech companies
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that are building the most innovative solutions
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to the threat spacing ocean.
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Today. These solutions are, uh, incredible companies,
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which I’ll give you a little bit
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of a preview on the next slide.
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So as you can see here, our impact to date, um, we offer
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funding to both, um,
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the for-profit startups through our Ecopreneur network
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and the Seabird Ventures.
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So anyone that has joined our, uh,
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sustainable Ocean Alliance ecopreneur network is able to,
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is eligible to receive funding of up
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to a hundred thousand dollars.
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Where, um, you can see
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so far we have 56 companies in our portfolio
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and over 30, 30 different countries.
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Um, and SOA has invested around $1.4 million.
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Um, all of these companies have gone on
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to raise over $250 million in the lifetime
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of their companies.
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And, um, as SOA, we also have a
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separate venture arm called Seabird Ventures,
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where we invest in our portfolio companies.
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Um, so far we’ve invested in, uh, 10 of our startups of up
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to $1.9 million.
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And then we have our grants program, which is more focused
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around our small, um,
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grassroots initiatives.
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Um, partnering with our solutions, uh, uh, I’m sorry,
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our regional representation across the world,
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across 83 different countries.
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Um, we’ve been able
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to distribute grants in 73 different countries, um,
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around $1.2 million so far.
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And all of these different grant projects are more
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grassroots or nonprofit initiatives, um, driven
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by our community of change makers.
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Next slide, please. Um, so
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our organization, um, initially started out
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as an accelerator program.
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We’ve since then transitioned to an ecopreneur network
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where we accept applications from for-profit,
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ocean tech companies from all around the world
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that are focused on our key impact areas.
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This ecopreneur network offers a lifetime of support to the,
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the startups that are, uh, accepted into our program
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where we support them across, um, fundraising support,
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so connecting them to our global network of investors, um,
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as well as, um, mentorship.
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Um, we have incredible volunteer network of mentors
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that support our companies across their,
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the lifecycle of their startup.
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Um, we also connect them to our global network of partners.
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Um, we’re so happy to have GreenWave as one
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of our incredible partners.
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Um, and then lastly, we also support our startups through,
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um, marketing and thought leadership.
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So helping to amplify their voice
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and showcase the incredible solutions that they’ve created.
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Um, we currently have an open call for applications
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for our 20 class of 2024 for the Ecopreneur Network.
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Um, the deadline to apply is in October.
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So highly recommend, um, you check it out if you have any
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companies that you know of or if you’re a founder yourself
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that are looking for connecting in the sustainable blue
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economy sector, especially in the ocean tech space.
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Um, come and join us. Next slide please.
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So at SOA we focus on five key impact areas.
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I’ll dive in with you about our pollution reduction
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and circular economy sector.
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But, um, so you’re aware we have the other impact areas
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that we focus on are greenhouse gas reduction, ecosystem
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and species preservation
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and restoration, sustainable blue seafood,
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including victories, aquaculture and seafood alternatives.
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And then lastly, ocean data literacy and research.
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You can actually take a look at our for full portfolio, um,
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here at the Bitly link provided in this slide.
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So it’s the bitly slash SOA startup.
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Next slide, please. So, as I mentioned, um,
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we’ll dive in a little bit more
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with you all about our pollution reduction in circular
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economy startups, um, as we would like to see
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the industry drive forward the huge amount of waste
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that is being produced, um,
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and helping to find different solutions
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to address the plastic issues.
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Um, next slide please.
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So, as you can see here, um, our circular economy
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solutions that we focus on, um, you know, are working
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to tackle this issue including, um,
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highly efficient recycling systems such as Nova Loop
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or re reusable container systems for takeout food such as
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dispatch goods and Muse.
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These are just a, a sampling of our portfolio of companies
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that have been able to achieve over, um,
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1,755 metrics, tons of solid waste removed, cycled
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or avoided through their solution.
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And we are at SOA, our strategy
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to combat these, um, systemic issues
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of plastic pollution are really helping
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to support these diverse
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and, um, incredible startups that are startup,
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both driving technological innovation shifts in consumer
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behavior, um, as well as helping
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to drive some policy changes.
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Next slide, please. Um, so yeah,
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these are the more of our companies.
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As we understand no single solution can address all
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plastic waste issues.
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Um, we were working on supporting a multi-pronged approach
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involving, um, al alternative
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materials such as cruise foam.
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This is a incredible company that has, um,
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created a solution to reduce the waste that’s coming from,
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um, styrofoam by creating their own product
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that is fully biodegradable, made out of shrimp byproducts.
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Um, we also have ocean work, um, working with brands
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to take action against plastic pollution, um,
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and then pollution reduction as well.
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So Ecospheres, um, they’re a company working to
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that net zero future environmental cleanup environ using
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environmental technology from nasa.
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Um, if you go to the next slide, please,
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you can see a little bit more of our startups here
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that are focused on seaweed.
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Um, so we would love to see the seaweed industry advance
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for all of the societal
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and climate climate benefits that seaweed farming
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can provide, but we won’t be able to realize these benefits
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unless there’s a market for it.
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That’s what the yeas startups do here at SOA
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through their ecopreneur network.
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We’re supporting this incredible group of seaweed startups
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that are helping to shape the industry.
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And I’m excited to share with you all here this group
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of startups in our portfolio
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that are creating a market for seaweed.
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Um, these are companies that you may have seen already
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that are part of the GreenWave community as well,
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but, um, I’ll share them here as also.
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Um, so we, havewe, physios
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and lolly wear, they’re all working to, um, you know, scale
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seaweed based, rapidly compostable replacements for plastic.
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Um, sway is beginning with flexible packaging, um, theos,
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um, these really offering, um, some packaging solutions
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that are able to combat the issues of plastic.
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And then, um, lolly wear, I think you all know, is working
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to design the decarbonized future, um, with products
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that are designed to disappear.
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Uh, next slide please. Um, these are some of our other,
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um, seaweed startups that we have here today.
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Um, Flexe is one of our newer companies.
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Um, they’re based outta Europe.
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They’re both innovative
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and have created a truly home compostable
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biopolymer material de derived from seaweed
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and other sustainably sourced materials.
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Um, Oceania, oh, apologies, there’s a,
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um, typo in the slide here.
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But Oceania, um, is working across, um,
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many different, uh, seaweed implementations to use the full,
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um, product of seaweed.
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So not just bioplastics,
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but also thinking about how you can utilize seaweed for, um,
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biomaterials, um, such as pharmaceuticals, um,
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and, and other products.
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And then Sea Forestation, um,
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isn’t directly creating products out of seaweed,
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but they’re working to, um, help seaweed a forestation
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and to help reverse the climate change to improve the,
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our healthier oceans.
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Um, and with that, um, I’d love to invite you all
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to check out our incredible startups and follow us along.
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We have a LinkedIn newsletter
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where we share all of their latest updates.
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So thank you so much for your time.
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Feel free to reach out to me anytime.
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Thank you so much, Camila.
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Um, if you could share that call
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for Oakland applications in the chat, that would be awesome.
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I’m sure folks would love to learn more. Um, awesome.
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Well, next up I’m really excited to bring on Jason Engle.
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Um, Jason is the founder
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and managing partner of Third Nature Investments,
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an integrated impact capital platform,
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investing in the most promising innovations
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and technologies seeking to address urgent
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and massive challenges we face within our
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most critical earth systems.
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Previously, Jason Co-founded Closed Loop Capital in 2010
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as one of the first early stage venture funds investing in
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exceptional entrepreneurs leading ventures in agriculture,
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technology, um, and food system innovation.
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Over to you, Jason.
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Great. Uh, thanks Grace, and thanks Camilla.
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It’s always great to hear all the great work
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that SOA is doing.
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Uh, as Grace just mentioned, um, you know, I’ll,
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I’ll talk a little bit about our, our role within, uh,
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the seaweed economy,
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but first we’ll give a little bit of context.
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So as, as was referenced, you know, we’re coming, uh, from,
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um, more of a food, uh, and ag investor
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and food systems investor experience
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over the last dozen years.
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And, uh, 2021, as we all were reflecting during covid,
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we reflected, um, as a group on our first, uh, on our decade
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of investing in Food and Ag.
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And, and what we found was that all systems interact
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and overlap and to just focus on one vertical
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was ultimately creating, uh, blind spots and biases.
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And so for us, you know, we, we started to look at, hey,
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it’s a great thing that we have, uh, more and more awareness
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and engagement on climate tech
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and the need for decarbonization.
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But at the end of the day, uh,
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if we decarbonize our atmosphere, uh,
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that doesn’t necessarily get us to where we need to get
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as far as rejuvenating all of our natural systems.
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And so, ultimately, uh, we set out to,
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to form a new entity that allows us, uh,
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wider aperture across these systems and to,
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and to find some of the more innovative, um, technologies
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and talented entrepreneurs across a number of these, uh,
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earth systems as we’re calling it.
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Uh, next slide. So of course, within that, uh,
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as we set out, uh, to create third nature investments, uh,
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we were looking at, um, you know, across all these spaces
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where, where were we seeing patterns that were similar
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to a decade earlier in food and Ag?
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So kind of in, in, uh, the early, you know,
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let’s call it 2012, 1314, there was starting to be more
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and more interest and awareness in the,
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in the food systems investment space,
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but still very underappreciated, undercapitalized, um,
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and ultimately a fragmented investor base.
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And, and honestly, that was something we were seeing, uh,
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kind of going into kind of 20 20, 20 21 on the,
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uh, ocean based side.
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And so, as referenced,
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and I’m sure not, um, surprising to anybody on,
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on this call, we, we see ocean based investing, seaweed,
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economy, blue tech, whatever you wanna call it,
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blue economy, um, as a tremendous opportunity
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and having many of the same, uh, characteristics
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and, uh, you know, current landscape as, uh,
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terrestrial based food and ag had about a decade ago.
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And so with that, um, we set out and,
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and certainly have seen seaweed become a big part of
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that, uh, next slide.
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So I’m not gonna bore anybody with all of the, uh,
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all the attributes, but, um, you know, in our minds,
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you know, looking at, um, seaweed,
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certainly it is a transformative opportunity.
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The way that we look at it is, you know, if we were
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to look at the 20th century economy versus 21st century
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economy, we know much more now based on science, uh,
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based on research and ultimately have the opportunity both
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with innovation and entrepreneurship to really harness,
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uh, some of these more regenerative base building block
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materials, of which in our mind, seaweed is at,
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at the center of that, along with a number of others
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that ultimately can be, uh, a source of
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this new economy and, uh,
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and look to displace some of the more damaging, uh,
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impactful, um, base materials across a number
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of different sectors, industries, um, and systems.
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Next slide. So, uh, we’re fortunate enough to have,
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uh, Alex going next.
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So I’ll let her do the honors with Key Labs.
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But within our journey, um, you know,
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obviously we have had the privilege of being, uh, able
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to invest in, into, uh, this space in, uh,
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starting in 2021.
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We invested in Atlantic Sea Farms
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as our first seaweed based, uh, company into the Series A
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and ultimately, um, you know, saw Atlantic Sea Farms
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as just an amazing business model.
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You know, obviously based on leveraging
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and harnessing the lobster fleet in the Gulf of Maine,
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and the knowhow and the knowledge
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and the infrastructure that’s there to, to scale up, uh,
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you know, their kelp production, um, first for food service
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and then, uh, as a CPG company, uh, with their own products
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and have seen, um, you know, a lot of development there.
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But just the, the design of the business model is,
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is an interesting one with more
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of a cooperative model across, you know,
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from all the way from, you know, kind of the breeding
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to obviously the grow partner farmer model
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to the processing,
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and then ultimately coming, you know, having, uh,
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their own product and also selling into different channels
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from ingredients to food service, et cetera, um,
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has been, um, an amazing, uh, journey and,
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and certainly is growing.
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And just like terrestrial based farming every
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year is a different challenge.
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Uh, last year they came in light on the harvest.
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This year was dramatically, um,
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higher than, uh, was targeted.
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So that presents, uh, just like any farm, uh, you know,
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season, different challenges, different opportunities.
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So, um, keeps, keeps things pretty interesting.
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Um, from there
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and from that experience, uh, we were introduced to, uh,
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algin Knit, which is now KE Labs.
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Um, and you know, I think, again, one of the, one
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of the most amazing things about a seaweed based economy is
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all the, uh, as Camilla was talking about
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all the different end use applications that are possible.
487
00:24:42.745 –> 00:24:46.525
So just like, you know, kind of, uh, on the food side,
488
00:24:46.625 –> 00:24:48.445
you also have obviously the fashion
489
00:24:48.545 –> 00:24:52.365
and apparel industry as a massive industry that has many
490
00:24:52.885 –> 00:24:54.525
negative, uh, impacts, um,
491
00:24:54.985 –> 00:24:56.685
on the environment and on human health.
492
00:24:56.785 –> 00:25:00.405
And presents, uh, a very unique opportunity as well,
493
00:25:00.415 –> 00:25:02.525
which Alex will discuss and,
494
00:25:02.525 –> 00:25:04.525
and talk to as far as kind
495
00:25:04.525 –> 00:25:06.525
of their model more on a B2B side.
496
00:25:07.145 –> 00:25:10.605
And then, um, you know, sway has been our more recent,
497
00:25:10.745 –> 00:25:14.085
we led, uh, their recent round that closed in December
498
00:25:14.155 –> 00:25:15.325
with a group of investors
499
00:25:16.145 –> 00:25:19.645
and, um, very powerful company as well, and,
500
00:25:19.665 –> 00:25:22.925
and opportunity, as Camilla said, on finding, uh,
501
00:25:23.075 –> 00:25:27.925
some real seaweed based alternative, um, solutions
502
00:25:28.065 –> 00:25:30.605
to a petro based plastics industry.
503
00:25:30.745 –> 00:25:34.125
But I, I, I talk to people a lot around just the fact
504
00:25:34.125 –> 00:25:37.525
that the petroleum companies are not just gonna close up
505
00:25:37.525 –> 00:25:40.885
shop someday and say, well, I guess the, uh, you know,
506
00:25:40.885 –> 00:25:42.325
the transportation industry
507
00:25:42.425 –> 00:25:45.165
and the global energy industry doesn’t need us anymore.
508
00:25:45.695 –> 00:25:47.365
We’re just gonna go out of business.
509
00:25:47.505 –> 00:25:49.765
No, they’re, they’re absolutely gonna be pivoting
510
00:25:49.765 –> 00:25:52.565
and plastics, uh, is gonna be one of the areas.
511
00:25:52.825 –> 00:25:56.085
And so it’s an area that we see real importance around
512
00:25:56.685 –> 00:26:01.365
capitalizing, uh, a new, um, a new set of entrepreneurs
513
00:26:01.465 –> 00:26:02.645
who can, can lead that
514
00:26:02.665 –> 00:26:06.445
and have drop-in solutions, very much B2B model as well.
515
00:26:06.745 –> 00:26:09.525
Um, so, uh, next slide.
516
00:26:12.135 –> 00:26:13.595
So on this one, I think, you know,
517
00:26:13.595 –> 00:26:16.955
obviously everybody who’s here is intrigued
518
00:26:17.095 –> 00:26:20.515
or is even a converted, uh, believer in the power
519
00:26:20.535 –> 00:26:21.915
of a seaweed based economy
520
00:26:22.095 –> 00:26:25.315
and building businesses for the 21st century around that.
521
00:26:25.415 –> 00:26:27.715
So I’m not gonna bore anyone too much with it,
522
00:26:27.715 –> 00:26:29.515
but I think, you know, some of the things that we’ve seen,
523
00:26:29.975 –> 00:26:34.115
um, are, which again, Alex can talk, talk
524
00:26:34.115 –> 00:26:35.435
to her, uh, journey.
525
00:26:35.575 –> 00:26:39.395
But I think, you know, one is certainly the challenge
526
00:26:39.615 –> 00:26:44.405
of compelling even impact, uh, investors, uh,
527
00:26:44.585 –> 00:26:47.765
to see the benefit and the opportunity in Ocean-based
528
00:26:47.905 –> 00:26:50.845
and seaweed based companies that, again, as mentioned,
529
00:26:50.875 –> 00:26:52.925
it’s an opportunity that we see
530
00:26:52.925 –> 00:26:54.245
and that we’re trying to catalyze
531
00:26:54.245 –> 00:26:55.445
other investors in the space.
532
00:26:55.505 –> 00:26:57.605
But candidly, it’s slow going.
533
00:26:57.945 –> 00:27:01.485
Um, there are plenty who are, I would call Ocean curious,
534
00:27:01.905 –> 00:27:04.125
um, but not necessarily courageous enough
535
00:27:04.145 –> 00:27:06.485
to be writing checks and really truly investing.
536
00:27:07.025 –> 00:27:09.125
Um, and, and even those that are, they,
537
00:27:09.155 –> 00:27:13.245
they typically are wanting to, to see other lead investors
538
00:27:13.435 –> 00:27:16.685
that they know and trust, uh, coming to the table first.
539
00:27:16.745 –> 00:27:19.725
So there’s certainly some more work to do on that front.
540
00:27:20.005 –> 00:27:22.245
I think also on the business development side, particularly
541
00:27:23.165 –> 00:27:25.045
companies that have more B2B model, it’s,
542
00:27:25.045 –> 00:27:27.645
it’s slow sales cycles just generally right now,
543
00:27:28.305 –> 00:27:30.965
but even more so, you know, in spaces like this
544
00:27:30.965 –> 00:27:33.845
that are emerging, that are still somewhat nascent.
545
00:27:33.985 –> 00:27:37.245
Um, and so while there is progress, while there is
546
00:27:37.995 –> 00:27:42.085
opportunity, um, it’s typically under, um,
547
00:27:43.305 –> 00:27:47.125
you know, uh, you know, underappreciated kind of the,
548
00:27:47.225 –> 00:27:50.925
the timeframe that is going to need to be required to kind
549
00:27:50.925 –> 00:27:52.405
of have those con converts and,
550
00:27:52.405 –> 00:27:54.685
and really getting some of the business development across
551
00:27:54.825 –> 00:27:56.965
the line with some of these corporates that
552
00:27:57.625 –> 00:27:59.885
in some ways are already risk off with their,
553
00:28:00.315 –> 00:28:01.885
with their own, uh, businesses.
554
00:28:01.985 –> 00:28:05.365
But also in just, uh, trying new innovations, so to speak,
555
00:28:05.365 –> 00:28:06.885
which this certainly falls into.
556
00:28:07.375 –> 00:28:10.645
There certainly continues to be more interest in some
557
00:28:10.645 –> 00:28:14.165
of these sectors like Biostimulants Animal Feed, you know,
558
00:28:14.165 –> 00:28:17.845
in our view and our, our lens as Earth systems investor,
559
00:28:18.345 –> 00:28:21.445
we believe, um, that the ocean be, should be seen
560
00:28:21.505 –> 00:28:24.805
as more than just a victim to our pollution
561
00:28:24.985 –> 00:28:26.605
and our exploitation.
562
00:28:26.665 –> 00:28:29.165
And that the ocean should be a true partner
563
00:28:29.265 –> 00:28:31.925
of creating vibrant, uh, business
564
00:28:31.985 –> 00:28:35.045
and economy in partnership with, uh,
565
00:28:35.505 –> 00:28:37.765
and in respect to the ocean.
566
00:28:37.905 –> 00:28:41.565
And so that for us, is one of our goals is to, to move
567
00:28:41.665 –> 00:28:44.805
beyond just looking at speculative uses for the ocean
568
00:28:45.105 –> 00:28:46.765
or exploitive uses and,
569
00:28:47.105 –> 00:28:50.365
and to really look for building companies and capitalizing
570
00:28:50.425 –> 00:28:53.845
and investing in companies that are creating real products
571
00:28:53.845 –> 00:28:56.125
with real revenue and real business models
572
00:28:56.635 –> 00:28:59.685
that can really become durable leaders in a future
573
00:28:59.685 –> 00:29:01.125
21st century economy.
574
00:29:01.385 –> 00:29:04.765
So, um, you know, I think an area which, uh,
575
00:29:04.765 –> 00:29:07.445
Camilla definitely an SOA is a big player in
576
00:29:07.715 –> 00:29:11.965
that is gonna need to be continued to, um, focused on is,
577
00:29:12.585 –> 00:29:16.205
is consumer awareness, behavior change, um,
578
00:29:17.485 –> 00:29:19.125
consumer education, uh,
579
00:29:19.505 –> 00:29:21.205
and certainly a lot of
580
00:29:21.205 –> 00:29:23.485
that is probably gonna need to be non-dilutive.
581
00:29:23.625 –> 00:29:24.765
So grants, uh,
582
00:29:24.945 –> 00:29:28.325
and advocacy, uh, you know, those are gonna be areas
583
00:29:28.855 –> 00:29:31.645
we’ve seen a lot of progress on the grant side in some
584
00:29:31.645 –> 00:29:33.005
of the work we’re doing.
585
00:29:33.065 –> 00:29:35.405
And I think that’s, I think there is a growing
586
00:29:35.405 –> 00:29:36.885
acknowledgement and,
587
00:29:36.945 –> 00:29:41.365
and awareness of the importance of RD on grants, on,
588
00:29:41.905 –> 00:29:45.525
um, you know, kind of consumer behavior research, et cetera,
589
00:29:45.525 –> 00:29:48.925
that will kind of probably continue to be, um,
590
00:29:49.625 –> 00:29:51.245
an important part of the, uh, puzzle.
591
00:29:52.035 –> 00:29:56.055
Next slide. And that’s it.
592
00:29:56.675 –> 00:29:59.375
Um, I will wait for, for questions and
593
00:29:59.375 –> 00:30:00.575
otherwise, uh, grace,
594
00:30:00.885 –> 00:30:04.295
I’ll let you transition us over to KE Labs. Thanks.
595
00:30:05.015 –> 00:30:06.825
Awesome. Thank you so much, Jason.
596
00:30:07.125 –> 00:30:09.505
Um, so insightful to hear your perspective.
597
00:30:10.485 –> 00:30:14.945
Um, and with that, I’ll hand it over to, um, Alex Chesky,
598
00:30:14.955 –> 00:30:17.945
who’s the co-founder and CEO of KE Labs.
599
00:30:18.805 –> 00:30:22.625
Um, Alex has a background in fashion design and economics,
600
00:30:22.845 –> 00:30:26.385
and is driving the development of Keo Labs business and r
601
00:30:26.385 –> 00:30:29.425
and d operations to scale the production of Cal
602
00:30:29.445 –> 00:30:31.905
and Fiber, the company’s flagship product.
603
00:30:32.565 –> 00:30:35.505
Um, as a systems thinker, Alex connects the dots
604
00:30:35.505 –> 00:30:38.665
between supply chain logistics, financial planning,
605
00:30:39.045 –> 00:30:40.065
and business development.
606
00:30:40.775 –> 00:30:44.465
Alex is also a Forbes 30 under 30 member, a testament
607
00:30:44.465 –> 00:30:47.345
to her unique and pioneering perspective on the intersection
608
00:30:47.405 –> 00:30:48.625
of science and design.
609
00:30:51.865 –> 00:30:54.015
Thank you, grace. And hi everyone.
610
00:30:54.275 –> 00:30:55.775
Um, so excited to be here
611
00:30:55.915 –> 00:30:58.335
and talk to you guys about what we’re doing at Kehl Labs.
612
00:30:59.235 –> 00:31:01.655
Um, so for some background, uh,
613
00:31:01.755 –> 00:31:04.335
the company was started in 2017,
614
00:31:05.455 –> 00:31:08.835
but of course, the idea for it, um, started
615
00:31:09.695 –> 00:31:11.355
before then, actually a year
616
00:31:11.355 –> 00:31:14.675
before then, uh, while my business partner, Tessa Callahan
617
00:31:14.675 –> 00:31:17.915
and I, uh, were at Design school in New York.
618
00:31:19.125 –> 00:31:23.185
So since we were already in New York, we decided to, um,
619
00:31:23.185 –> 00:31:25.105
initially establish the company there.
620
00:31:25.725 –> 00:31:26.945
And then, uh,
621
00:31:26.945 –> 00:31:28.425
after a few years, we decided
622
00:31:28.445 –> 00:31:29.905
to move down to North Carolina.
623
00:31:30.165 –> 00:31:33.585
So our HQ is in the research triangle area
624
00:31:33.645 –> 00:31:35.665
of North Carolina today.
625
00:31:37.405 –> 00:31:40.665
Um, and how does seaweed play into what we’re doing at kehl?
626
00:31:41.405 –> 00:31:44.625
Um, as I mentioned, uh, myself
627
00:31:44.625 –> 00:31:46.905
and my business partner come from design backgrounds.
628
00:31:47.485 –> 00:31:50.785
So we had firsthand experience for the need, uh,
629
00:31:50.785 –> 00:31:52.385
for better materials in the market
630
00:31:52.525 –> 00:31:54.505
to design better products.
631
00:31:55.075 –> 00:31:57.675
Super simple. We started
632
00:31:57.735 –> 00:31:59.835
to see brands making these commitments towards
633
00:31:59.835 –> 00:32:02.075
sustainability, however, they continue
634
00:32:02.075 –> 00:32:05.075
to use synthetic materials to make those products.
635
00:32:05.295 –> 00:32:07.595
So how, in fact, were they actually going
636
00:32:07.595 –> 00:32:09.875
to achieve those sustainability goals?
637
00:32:11.255 –> 00:32:14.395
So we started to ask ourselves, how can we, um,
638
00:32:15.065 –> 00:32:19.895
make something truly sustainable, uh, with what’s available
639
00:32:19.995 –> 00:32:21.575
to us, um, on the planet?
640
00:32:21.715 –> 00:32:25.415
So from the onset, we had a few constraints, which included,
641
00:32:26.825 –> 00:32:29.205
um, working with existing supply chains.
642
00:32:29.905 –> 00:32:33.815
Um, we also wanted to, we knew we wanted to create a fiber
643
00:32:33.815 –> 00:32:36.495
because it’s an essential building block to so many
644
00:32:36.555 –> 00:32:39.765
of the products and materials that we use today.
645
00:32:40.625 –> 00:32:43.765
And we also wanted to, um, make sure
646
00:32:43.765 –> 00:32:47.405
that it worked in existing, uh, industry equipment,
647
00:32:47.845 –> 00:32:49.405
specifically in the textile sector.
648
00:32:50.145 –> 00:32:52.285
Um, and for us, seaweed checked all those boxes.
649
00:32:52.385 –> 00:32:56.845
We were able to create a, um, reproducible fiber.
650
00:32:57.905 –> 00:32:59.165
We were able to scale it.
651
00:32:59.535 –> 00:33:04.165
We’ve put it into, um, test in different, uh, industry
652
00:33:04.825 –> 00:33:07.085
in different types of industry equipments on the textile
653
00:33:07.085 –> 00:33:08.845
front, we’ve developed products.
654
00:33:09.105 –> 00:33:12.765
So it’s been a fantastic, um, resource for us.
655
00:33:14.905 –> 00:33:19.565
Um, and, uh, thus far we have, um,
656
00:33:19.665 –> 00:33:21.885
raised about $18 million in funding.
657
00:33:22.625 –> 00:33:24.565
Um, oh, I’m sorry. And then on scent,
658
00:33:24.675 –> 00:33:26.165
just specifically on the fiber.
659
00:33:26.385 –> 00:33:28.565
So scent is our core product.
660
00:33:29.025 –> 00:33:32.165
Um, it is exclusively manufactured at our facilities in
661
00:33:32.165 –> 00:33:34.725
North Carolina, and we use a wet spinning process
662
00:33:35.065 –> 00:33:36.205
to create that.
663
00:33:36.665 –> 00:33:40.205
Um, what spinning is a traditional fiber spinning method
664
00:33:40.315 –> 00:33:42.885
used for manmade cellulose fiber.
665
00:33:42.985 –> 00:33:44.685
So that includes things like Visco
666
00:33:45.805 –> 00:33:48.665
or Rayon, if you guys are familiar with those.
667
00:33:49.005 –> 00:33:51.165
Um, and
668
00:33:51.165 –> 00:33:55.285
after we make the fiber, we sell it directly to brands.
669
00:33:55.425 –> 00:33:57.485
So we are positioned as a B2B business.
670
00:33:57.945 –> 00:33:59.085
The brands take that fiber
671
00:33:59.185 –> 00:34:02.005
and implement it into the materials, um,
672
00:34:02.385 –> 00:34:04.365
and goods that they’re developing.
673
00:34:04.745 –> 00:34:07.285
So that could be a shirt, it could be a chair, it could be,
674
00:34:07.785 –> 00:34:11.635
um, a pillow, anything that really uses fibers,
675
00:34:11.855 –> 00:34:12.875
um, at the end of the day.
676
00:34:14.095 –> 00:34:16.635
Um, and some, we’ve worked with a number of brands to date,
677
00:34:16.775 –> 00:34:18.355
um, including Stella McCartney.
678
00:34:18.735 –> 00:34:20.355
Um, and there are many more products
679
00:34:20.355 –> 00:34:22.115
that are coming to the market soon.
680
00:34:24.015 –> 00:34:25.595
So since the formation of kehl,
681
00:34:25.595 –> 00:34:27.555
we have raised about $18 million in funding.
682
00:34:27.905 –> 00:34:30.195
Most of that funding in our case has come from Venture
683
00:34:30.195 –> 00:34:33.475
capital, um, including third Nature, um,
684
00:34:33.575 –> 00:34:35.395
who we just heard Jason speak about.
685
00:34:36.595 –> 00:34:39.855
Um, but some of that has also come from grant funding, um,
686
00:34:39.945 –> 00:34:41.575
which has been really amazing.
687
00:34:41.575 –> 00:34:45.655
Unfortunately, the grants that we were able to, um, receive,
688
00:34:46.235 –> 00:34:48.335
uh, are no longer in existence.
689
00:34:48.395 –> 00:34:52.785
So, um, I’ll talk about some other options that, um,
690
00:34:52.795 –> 00:34:57.225
folks can look into, um, as an alternative, um, next slide.
691
00:34:59.555 –> 00:35:03.375
So, um, how we’ve kind of grown since the start.
692
00:35:03.675 –> 00:35:06.455
Um, thanks to our investors, we have gotten to
693
00:35:06.455 –> 00:35:07.495
where we are today.
694
00:35:08.075 –> 00:35:11.135
Um, but there are also other significant trip contributors
695
00:35:11.795 –> 00:35:14.975
to our growth and success over the years.
696
00:35:16.475 –> 00:35:19.515
Starting with the Biodesign Challenge, that was really
697
00:35:19.525 –> 00:35:21.435
where we got our start.
698
00:35:21.735 –> 00:35:25.195
And the idea for Keel Labs came to be.
699
00:35:25.895 –> 00:35:29.635
Um, the Biodesign Challenge is an international design
700
00:35:30.095 –> 00:35:33.475
and science competition where they try to bring designers
701
00:35:33.475 –> 00:35:34.475
and scientists together
702
00:35:34.535 –> 00:35:37.325
to develop really world changing ideas.
703
00:35:38.855 –> 00:35:42.955
So we participated in that in 2016, um,
704
00:35:43.415 –> 00:35:45.755
and happened to win the competition that year,
705
00:35:45.755 –> 00:35:47.515
which is the first year also ran.
706
00:35:48.215 –> 00:35:50.315
And there have been so many amazing ideas
707
00:35:50.315 –> 00:35:53.435
that have come from that since it is still running.
708
00:35:53.465 –> 00:35:54.555
It’s an amazing program.
709
00:35:54.945 –> 00:35:56.995
It’s usually affiliated with universities,
710
00:35:57.175 –> 00:35:58.995
so if you are in college
711
00:35:59.095 –> 00:36:01.955
or in high school, um, there are opportunities
712
00:36:02.135 –> 00:36:05.195
for those schools to, uh, get involved.
713
00:36:07.265 –> 00:36:09.605
Um, and after that, after,
714
00:36:10.775 –> 00:36:13.005
after some interest in traction, um,
715
00:36:14.315 –> 00:36:17.765
when we won the Biodesign competition, we,
716
00:36:17.865 –> 00:36:20.325
we thought there was something else for us to explore.
717
00:36:20.325 –> 00:36:22.445
We thought there was potential with the idea we had
718
00:36:22.445 –> 00:36:26.645
for kehl, and, uh, we decided to further pursue the idea.
719
00:36:26.785 –> 00:36:29.365
So we got some market validation for
720
00:36:29.365 –> 00:36:31.875
what we were doing at the time.
721
00:36:32.015 –> 00:36:35.875
We, we knew we specifically needed a little bit more support
722
00:36:36.095 –> 00:36:37.555
on the business development front
723
00:36:37.575 –> 00:36:38.995
and on the product development front.
724
00:36:40.165 –> 00:36:41.865
So we were looking for programs
725
00:36:42.335 –> 00:36:44.785
that could support us in those ways.
726
00:36:45.845 –> 00:36:48.985
Uh, with that we identified Indie bio, um,
727
00:36:49.205 –> 00:36:51.785
and fashion for Good, uh, both
728
00:36:51.785 –> 00:36:53.785
of which we ended up participating in.
729
00:36:55.325 –> 00:36:57.105
Um, I’ll speak about them a little bit
730
00:36:57.105 –> 00:36:58.265
more on the next slide.
731
00:36:58.645 –> 00:36:59.945
Um, and
732
00:37:01.075 –> 00:37:04.865
after those accelerator programs, we raised a number of, uh,
733
00:37:04.865 –> 00:37:06.505
venture capital fundraising rounds
734
00:37:06.505 –> 00:37:08.985
and completed our most recent round,
735
00:37:08.995 –> 00:37:12.345
which was our Series A in April, 2022.
736
00:37:14.375 –> 00:37:18.475
Um, something that’s also important is, um,
737
00:37:18.505 –> 00:37:20.875
marketing the business and bringing the business to light
738
00:37:20.875 –> 00:37:22.635
and showing what we do and who we are
739
00:37:22.695 –> 00:37:26.355
and what ways that we did that was through social media
740
00:37:26.575 –> 00:37:30.155
and through other forms of exposure, including competitions
741
00:37:30.215 –> 00:37:31.835
or conferences or grants.
742
00:37:32.495 –> 00:37:35.075
Um, and these have all been really helpful in connecting us
743
00:37:35.075 –> 00:37:37.115
to the right people, getting ourselves in front
744
00:37:37.115 –> 00:37:40.715
of the right partners, the right brands, et cetera.
745
00:37:42.165 –> 00:37:44.865
Um, and then bringing in expertise from the outside.
746
00:37:45.245 –> 00:37:47.985
We know that we don’t know everything, so we look
747
00:37:47.985 –> 00:37:50.625
to the experts that have been in the industry
748
00:37:50.685 –> 00:37:52.985
for a long time to, to help guide us
749
00:37:53.045 –> 00:37:57.285
and to help, um, fill in the blanks that we have
750
00:37:58.405 –> 00:37:59.465
around what we’re doing.
751
00:38:00.365 –> 00:38:03.115
Um, so,
752
00:38:03.175 –> 00:38:04.315
and some of that guidance
753
00:38:04.785 –> 00:38:08.275
that we received from experts led us to deciding to move
754
00:38:08.275 –> 00:38:09.315
to North Carolina.
755
00:38:10.575 –> 00:38:13.955
We did that because we were running outta space in New York.
756
00:38:14.455 –> 00:38:16.355
Um, it’s hard to build a manufacturing
757
00:38:16.795 –> 00:38:18.315
business in New York City.
758
00:38:18.815 –> 00:38:21.715
Um, and many of our initial partners were,
759
00:38:21.745 –> 00:38:23.235
were based in North Carolina.
760
00:38:24.325 –> 00:38:26.065
Uh, the Carolinas are historically known
761
00:38:26.205 –> 00:38:30.785
for their expertise in textiles, in manufacturing,
762
00:38:31.485 –> 00:38:33.065
in furniture, uh,
763
00:38:33.965 –> 00:38:37.885
and we ended up running our early stage pilot projects
764
00:38:37.915 –> 00:38:39.405
with a number of facilities there.
765
00:38:40.585 –> 00:38:42.565
Uh, North Carolina also has the last
766
00:38:43.245 –> 00:38:45.525
textiles university in the nation,
767
00:38:46.385 –> 00:38:49.125
and we were able to attract amazing talent.
768
00:38:49.785 –> 00:38:52.565
Um, so we grew our team, we grew our network,
769
00:38:53.065 –> 00:38:54.485
we developed our product further
770
00:38:55.145 –> 00:38:57.885
by simply picking the right location to be in.
771
00:38:59.635 –> 00:39:02.815
Uh, and, uh, with that we were able to scale our product.
772
00:39:03.635 –> 00:39:06.735
Um, we were able to share it with brand partners,
773
00:39:06.735 –> 00:39:10.475
have them develop their own products using calon,
774
00:39:11.175 –> 00:39:15.755
and, um, and focus more on building out our supply chains.
775
00:39:15.755 –> 00:39:20.275
We really want to understand, uh, every individual we work
776
00:39:20.275 –> 00:39:22.395
with throughout our value chain,
777
00:39:22.495 –> 00:39:25.155
all the way from the seaweed growers
778
00:39:25.175 –> 00:39:27.915
and farmers to the brands that are, that are,
779
00:39:28.015 –> 00:39:29.195
or to the end consumers,
780
00:39:29.255 –> 00:39:31.115
and actually understanding how
781
00:39:31.145 –> 00:39:32.875
they’re interacting with the material.
782
00:39:34.145 –> 00:39:39.035
Um, I think we can go to the next slide here.
783
00:39:40.735 –> 00:39:43.915
Uh, so yeah, quickly on the accelerator programs, um,
784
00:39:43.915 –> 00:39:46.885
that we’ve participated in, uh,
785
00:39:47.195 –> 00:39:48.685
each one is structured a little differently.
786
00:39:49.895 –> 00:39:53.075
Uh, I won’t spend too much time going into each of them, um,
787
00:39:53.215 –> 00:39:57.475
but a lot of that, a lot of what comes into play is,
788
00:39:58.335 –> 00:40:01.665
um, the expertise they provide,
789
00:40:02.685 –> 00:40:07.065
the duration of the, uh, accelerated programs themselves,
790
00:40:07.065 –> 00:40:09.865
sometimes their months, sometimes their years, um,
791
00:40:11.305 –> 00:40:15.085
and other resources that come with them, including funding,
792
00:40:15.665 –> 00:40:17.525
uh, some gift funding, some don’t.
793
00:40:18.185 –> 00:40:20.365
Uh, some take equity, some don’t.
794
00:40:20.945 –> 00:40:23.165
Um, and there is no good
795
00:40:23.165 –> 00:40:26.565
or bad in terms of which program you decide to pursue.
796
00:40:27.465 –> 00:40:29.725
It really just depends on what you need at
797
00:40:29.725 –> 00:40:31.325
that point in your business.
798
00:40:32.415 –> 00:40:35.395
So Indie Bio gave us the scientific, um, support
799
00:40:35.415 –> 00:40:36.795
and the business support and fashion
800
00:40:36.855 –> 00:40:38.555
for good gave us the access to brands,
801
00:40:38.615 –> 00:40:42.435
and we are able to, um, get feedback really quickly
802
00:40:42.655 –> 00:40:46.875
and find product market fit through, uh, those experiences.
803
00:40:48.285 –> 00:40:51.315
We’ve also applied to other grants, as I mentioned,
804
00:40:51.315 –> 00:40:53.595
and received funding from some, um,
805
00:40:53.655 –> 00:40:56.675
but we also haven’t received many, um, some
806
00:40:56.675 –> 00:40:58.875
that I think are really worth noting.
807
00:40:59.295 –> 00:41:00.995
Uh, for folks in this room are Ray
808
00:41:00.995 –> 00:41:02.795
of Hope and Earth Shop Prize.
809
00:41:02.805 –> 00:41:04.555
These are amazing grants that have been running
810
00:41:04.555 –> 00:41:06.755
for the last few years, um, and,
811
00:41:06.775 –> 00:41:08.315
and absolutely worth noting.
812
00:41:09.055 –> 00:41:12.915
Um, Jason mentioned a number of resources. SOI is here.
813
00:41:12.915 –> 00:41:14.915
They’re also a great resource in the blue economy,
814
00:41:15.175 –> 00:41:19.075
but Noah is also, um, bringing in a lot of support, uh,
815
00:41:19.095 –> 00:41:21.235
the N-S-F-E-P-I, et cetera.
816
00:41:22.055 –> 00:41:25.905
There’s also one really amazing seaweed resource that I like
817
00:41:25.905 –> 00:41:27.265
to reference every once in a while.
818
00:41:28.085 –> 00:41:31.985
It was built out by Steven Herman, it’s called Fmy.
819
00:41:32.285 –> 00:41:34.725
He tracks all the different seaweed com companies
820
00:41:34.725 –> 00:41:37.445
and ideas that are being, um, developed.
821
00:41:37.445 –> 00:41:38.685
Seaweed farmers are on there.
822
00:41:39.145 –> 00:41:41.165
Uh, if you haven’t seen it,
823
00:41:41.275 –> 00:41:42.685
it’s definitely worth checking out.
824
00:41:44.695 –> 00:41:48.955
Um, next slide. So, challenges and opportunities.
825
00:41:49.265 –> 00:41:50.635
There’s obviously different ones
826
00:41:50.635 –> 00:41:51.995
that we’re gonna experience at different
827
00:41:52.055 –> 00:41:53.915
stages of the company.
828
00:41:54.255 –> 00:41:56.835
Um, we’re at a growth stage right now,
829
00:41:57.125 –> 00:41:59.275
which means we are growing and expanding
830
00:41:59.735 –> 00:42:01.995
and trying to get our product, um,
831
00:42:02.335 –> 00:42:04.275
to be more accessible to the market.
832
00:42:05.095 –> 00:42:08.355
Um, with that we’re experiencing things for the first time
833
00:42:08.415 –> 00:42:11.915
and, and trying to navigate, um, some
834
00:42:11.915 –> 00:42:12.915
of what’s coming our way.
835
00:42:15.305 –> 00:42:18.405
Uh, another thing that’s kind of coming to light for us is,
836
00:42:19.465 –> 00:42:21.565
um, communicating with our end users.
837
00:42:21.825 –> 00:42:23.165
So we are a B2B business.
838
00:42:23.225 –> 00:42:24.725
We mostly communicate to brands,
839
00:42:25.345 –> 00:42:27.565
but I think it’s also really important for us to consider
840
00:42:27.945 –> 00:42:29.845
how our end users
841
00:42:30.415 –> 00:42:33.805
navigating all this information about next gen materials,
842
00:42:34.235 –> 00:42:35.285
what does it mean to them?
843
00:42:35.435 –> 00:42:38.525
What is actually value that valuable for them to know about?
844
00:42:39.305 –> 00:42:42.965
Um, how do you effectively convince someone
845
00:42:43.065 –> 00:42:46.605
to pick a seaweed material over a non seaweed material?
846
00:42:48.415 –> 00:42:50.035
Um, and industry expertise.
847
00:42:50.205 –> 00:42:53.955
We’re, we’re dealing with, uh, an industry that is massive,
848
00:42:54.215 –> 00:42:57.915
but also in many ways shrinking in the us,
849
00:42:57.925 –> 00:42:59.315
especially the knowledge base.
850
00:42:59.455 –> 00:43:02.395
So, um, we’re always looking to connect with more
851
00:43:03.185 –> 00:43:05.715
expertise in this space, um,
852
00:43:07.455 –> 00:43:08.555
as well as seaweed.
853
00:43:08.855 –> 00:43:11.835
Um, the seaweed industry is really vital to our success.
854
00:43:11.935 –> 00:43:13.595
So we’re always looking to connect
855
00:43:13.595 –> 00:43:16.435
with seaweed farmers in the US and outside of the US
856
00:43:17.055 –> 00:43:18.235
and continue to build
857
00:43:18.235 –> 00:43:20.195
and secure our supply chains as we grow.
858
00:43:21.825 –> 00:43:23.725
And then some upcoming opportunities for us
859
00:43:24.265 –> 00:43:25.885
are brand launches.
860
00:43:26.455 –> 00:43:30.205
We’re developing products in primarily the apparel sector,
861
00:43:30.345 –> 00:43:33.525
but fibers are used in, in all sorts of industries.
862
00:43:34.145 –> 00:43:38.085
So we’re really interested in looking to broaden that
863
00:43:38.345 –> 00:43:42.805
and work with within the interior sector, uh,
864
00:43:42.805 –> 00:43:47.765
in the automated automotive sector, um, in the, um,
865
00:43:48.495 –> 00:43:50.565
disposable sector or single use.
866
00:43:51.345 –> 00:43:55.005
Um, so figuring out how we can apply
867
00:43:55.965 –> 00:43:57.445
cent into those areas.
868
00:43:59.375 –> 00:44:00.635
Um, and like I said
869
00:44:00.655 –> 00:44:02.715
before, working closer with our supply chains
870
00:44:02.715 –> 00:44:04.155
and partners is really key to us.
871
00:44:04.895 –> 00:44:07.595
Um, there’s a lot of opportunities for us to connect further
872
00:44:08.025 –> 00:44:10.355
with seaweed farmers and textile mills.
873
00:44:10.615 –> 00:44:13.395
So if anyone here is looking to connect
874
00:44:13.395 –> 00:44:14.595
with us, please reach out.
875
00:44:15.535 –> 00:44:17.635
Um, and then opportunities around regulation.
876
00:44:17.895 –> 00:44:20.235
Um, we didn’t really talk about that today,
877
00:44:20.295 –> 00:44:24.715
but there, there’s clearly been a lot of regulatory push,
878
00:44:25.055 –> 00:44:26.155
um, in the eu,
879
00:44:26.615 –> 00:44:28.355
and we’re hoping to see some
880
00:44:28.355 –> 00:44:30.515
of those things come into effect, um,
881
00:44:31.025 –> 00:44:34.285
and spread, uh, wider, hopefully into the US as well.
882
00:44:35.195 –> 00:44:38.355
Uh, next slide. Um,
883
00:44:38.375 –> 00:44:41.475
and then our advice when it comes to building a startup, uh,
884
00:44:41.675 –> 00:44:44.835
I think it’s important to be clued into the market,
885
00:44:45.255 –> 00:44:47.715
to really find a unique opportunity to connect
886
00:44:47.715 –> 00:44:49.275
with the local network and understand
887
00:44:49.495 –> 00:44:51.515
how things are being worked on,
888
00:44:51.515 –> 00:44:54.115
how things operate, who’s a key player.
889
00:44:54.815 –> 00:44:57.715
Um, and we’ve said this a bunch today about grants
890
00:44:57.775 –> 00:44:59.795
and funding is really important.
891
00:45:01.365 –> 00:45:04.385
Um, and some interesting things I wanted
892
00:45:04.385 –> 00:45:05.465
to just flag around.
893
00:45:05.535 –> 00:45:07.825
Seaweed in particular, there’s a huge and massive
894
00:45:07.845 –> 00:45:09.385
and amazing community and network.
895
00:45:10.285 –> 00:45:12.065
Um, I think there’s also opportunities
896
00:45:12.485 –> 00:45:16.265
and initiatives, um, around making farming easier
897
00:45:16.445 –> 00:45:17.465
and more accessible.
898
00:45:18.765 –> 00:45:21.465
Um, addressing some of the invasive species
899
00:45:21.495 –> 00:45:22.585
that we’re, we’re seeing.
900
00:45:22.585 –> 00:45:24.425
Obviously Sargassum is a big one of them,
901
00:45:24.445 –> 00:45:26.225
but can’t be the only one.
902
00:45:26.845 –> 00:45:28.345
How are we handling these
903
00:45:28.365 –> 00:45:30.945
and preventing them from spreading in the future?
904
00:45:31.925 –> 00:45:33.945
Um, is there opportunities for us to work
905
00:45:33.945 –> 00:45:35.145
with indigenous tribes?
906
00:45:35.445 –> 00:45:37.145
And lastly, I think this is so important.
907
00:45:37.175 –> 00:45:40.505
Data and collection and organization, sorry, data collection
908
00:45:40.505 –> 00:45:42.945
and, and organization of all this information
909
00:45:42.945 –> 00:45:45.025
around seaweed is so, so important.
910
00:45:45.645 –> 00:45:50.265
Um, I think there’s a lot more that we can do on that front
911
00:45:50.445 –> 00:45:53.745
so that we have, uh, the right, the right context
912
00:45:54.165 –> 00:45:55.985
to continue building out this industry.
913
00:45:57.245 –> 00:46:00.745
Next slide. Uh,
914
00:46:00.885 –> 00:46:03.385
and I just wanted to say thank you from the whole keel team.
915
00:46:05.845 –> 00:46:06.915
Thank you so much, Alex.
916
00:46:07.215 –> 00:46:09.835
Um, incredible story and growth
917
00:46:10.175 –> 00:46:11.315
and, um, yeah,
918
00:46:11.315 –> 00:46:14.595
totally agree about the data point that you just mentioned.
919
00:46:15.095 –> 00:46:16.955
Um, if people haven’t seen it,
920
00:46:17.015 –> 00:46:20.115
we do have a kelp impact metrics webinar, um,
921
00:46:20.115 –> 00:46:21.315
that we did a couple months ago.
922
00:46:21.455 –> 00:46:23.915
So if you wanna learn more about the data collection piece,
923
00:46:23.915 –> 00:46:25.075
definitely check that out.
924
00:46:26.015 –> 00:46:27.915
Um, so I’m gonna move us over
925
00:46:27.915 –> 00:46:29.835
to the questions portion of the webinar.
926
00:46:30.455 –> 00:46:32.835
Uh, but really quickly before that, um, I wanted
927
00:46:32.835 –> 00:46:36.515
to actually invite, um, Megan Banner from the Gulf of Maine,
928
00:46:36.655 –> 00:46:40.355
um, ventures to share the open call for applications
929
00:46:40.355 –> 00:46:41.395
for their incubator program,
930
00:46:41.455 –> 00:46:43.035
and just give you a little bit more context
931
00:46:43.125 –> 00:46:44.195
about that opportunity.
932
00:46:44.735 –> 00:46:46.515
Um, Megan, are you here?
933
00:46:47.305 –> 00:46:48.915
Yeah, hi. Hi, everyone.
934
00:46:49.735 –> 00:46:51.795
Um, yeah, so the go
935
00:46:51.795 –> 00:46:53.795
of Maine Research Institute is a research institute
936
00:46:53.805 –> 00:46:54.995
based out of Maine.
937
00:46:55.575 –> 00:46:59.955
Uh, we are a world class, uh, institute with over a hundred
938
00:47:00.475 –> 00:47:04.115
scientists, economists, ecosystem builders, people working
939
00:47:04.115 –> 00:47:07.595
with the communities, trying to build the resiliency
940
00:47:08.175 –> 00:47:10.155
of our region’s waterways.
941
00:47:10.855 –> 00:47:13.715
And we have a team here, um,
942
00:47:14.345 –> 00:47:17.315
that focuses on blue economy ventures.
943
00:47:17.775 –> 00:47:21.475
And so we have programming that we have, um,
944
00:47:21.695 –> 00:47:24.875
and we’re about to launch our third cohort
945
00:47:25.055 –> 00:47:28.635
of the Blue Tech Boost, which is for early stage companies
946
00:47:28.775 –> 00:47:31.365
who are really looking for targeted support
947
00:47:32.345 –> 00:47:36.605
to help them overcome a specific hurdle or milestone.
948
00:47:37.065 –> 00:47:39.045
We pair them with someone on our team
949
00:47:39.225 –> 00:47:42.445
and we work as facilitators, making sure,
950
00:47:42.445 –> 00:47:46.765
getting them con connected with, um, researchers
951
00:47:46.945 –> 00:47:48.765
or specialists from our team
952
00:47:48.785 –> 00:47:52.725
and our ecosystem to help ’em pull ’em along to, um,
953
00:47:52.775 –> 00:47:54.045
reach that milestone.
954
00:47:54.825 –> 00:47:57.525
The incubator program also comes
955
00:47:57.525 –> 00:48:00.485
with some micro grant funding to help support
956
00:48:01.225 –> 00:48:02.605
the project that’s along the way.
957
00:48:03.425 –> 00:48:07.045
If you have any questions, um, I believe that you have, uh,
958
00:48:07.105 –> 00:48:11.605
in the chat a link to the website, um, where you could also
959
00:48:12.285 –> 00:48:15.005
schedule a 15 minute meeting with me where I can talk
960
00:48:15.005 –> 00:48:16.125
through some more details.
961
00:48:17.025 –> 00:48:20.445
We have our call open till, um, the first week of September.
962
00:48:20.665 –> 00:48:22.965
The program starts the end of September
963
00:48:23.745 –> 00:48:25.685
and concludes in 10 weeks.
964
00:48:26.465 –> 00:48:28.005
Um, the one thing I would like
965
00:48:28.005 –> 00:48:31.445
to say about this program is it’s low touch, high impact.
966
00:48:32.265 –> 00:48:36.685
Um, the programming time is nothing more than two hours,
967
00:48:37.505 –> 00:48:38.845
um, throughout a week.
968
00:48:39.345 –> 00:48:41.925
And that it’s really meant to just really help you on
969
00:48:41.925 –> 00:48:45.825
with a specific issue that you might be trying to have,
970
00:48:46.085 –> 00:48:47.425
um, tackling at that time.
971
00:48:47.685 –> 00:48:49.665
So that’s the Blue Tech Boost.
972
00:48:50.125 –> 00:48:53.305
Um, really great listening in on this webinar. Thanks.
973
00:48:53.905 –> 00:48:57.045
Thanks, Megan. Um, yeah, clearly lots
974
00:48:57.045 –> 00:48:58.165
of opportunities available.
975
00:48:58.825 –> 00:49:02.645
Um, so let’s go ahead and move over to the q and a section.
976
00:49:03.385 –> 00:49:06.405
Um, it looks like we have a couple of questions about, um,
977
00:49:06.545 –> 00:49:08.525
future demand for, um,
978
00:49:08.675 –> 00:49:12.405
seaweed grown in the us specifically in CPG food
979
00:49:12.405 –> 00:49:13.485
products in retail.
980
00:49:14.025 –> 00:49:16.245
Um, Jason, I don’t know if you have any insights
981
00:49:16.245 –> 00:49:17.685
that you wanna share, um,
982
00:49:18.185 –> 00:49:22.205
or Camilla about, um, yeah, how you see the future
983
00:49:22.465 –> 00:49:26.205
of food-based seaweed products in CBG and retail.
984
00:49:29.345 –> 00:49:31.165
Boy, um, great question.
985
00:49:31.625 –> 00:49:36.565
Uh, we’re obviously with the A SF hat on, it’s a,
986
00:49:36.635 –> 00:49:38.285
it’s a very, a
987
00:49:40.395 –> 00:49:41.805
current discussion.
988
00:49:42.425 –> 00:49:46.385
Um, you know, they, they’re in a few different, you know,
989
00:49:46.695 –> 00:49:51.025
they’ve got ferments, they have, uh, their, you know, uh,
990
00:49:51.385 –> 00:49:52.825
burger Sea veggie burgers.
991
00:49:52.935 –> 00:49:55.105
They have, uh, kelp cubes.
992
00:49:55.185 –> 00:49:58.245
I mean, at the end of the day, it’s, um, you know,
993
00:49:58.245 –> 00:49:59.405
it’s a tough space.
994
00:49:59.765 –> 00:50:02.525
I, I think, you know, it’s a blessing
995
00:50:02.525 –> 00:50:05.605
and a curse as, as referenced Akua 12 tides,
996
00:50:05.965 –> 00:50:09.145
companies like this, you know, it is just a different model.
997
00:50:09.445 –> 00:50:13.145
Um, you know, Atlantic Sea Farms is fortunate in some ways
998
00:50:13.175 –> 00:50:14.985
that they have a very strong
999
00:50:15.005 –> 00:50:18.865
and committed investor base, um, who is there.
1000
00:50:19.205 –> 00:50:21.505
And, and, um, and,
1001
00:50:21.605 –> 00:50:24.465
and it’s a model that is certainly complicated.
1002
00:50:24.605 –> 00:50:26.105
You know, I, it’s something that
1003
00:50:26.635 –> 00:50:29.485
we’ve talked about quite a bit is, you know,
1004
00:50:29.485 –> 00:50:31.725
typically investors want to put you in a bucket.
1005
00:50:32.265 –> 00:50:33.965
You know, are you a CPG company?
1006
00:50:34.225 –> 00:50:36.925
Are you an Ag tech company or more upstream?
1007
00:50:38.025 –> 00:50:41.325
And, you know, this is kind of one of the things we’re,
1008
00:50:41.325 –> 00:50:43.805
we’re working on, but it’s gonna take time, which is,
1009
00:50:44.545 –> 00:50:46.285
you know, to be a systemic
1010
00:50:46.885 –> 00:50:49.845
investor is very different than traditional methodologies
1011
00:50:50.065 –> 00:50:52.405
of quote de-risking an investment
1012
00:50:52.505 –> 00:50:53.965
and looking at where they play
1013
00:50:54.025 –> 00:50:55.525
and what their end product is,
1014
00:50:55.625 –> 00:50:57.325
and how they are, you know,
1015
00:50:57.325 –> 00:51:00.645
keeping more arms length from their upstream supply.
1016
00:51:00.785 –> 00:51:03.045
And it’s, it’s one of the great challenges
1017
00:51:03.045 –> 00:51:06.525
because when we first introduce a company like an a SF,
1018
00:51:07.145 –> 00:51:08.765
an investor says, well, wait a second.
1019
00:51:08.905 –> 00:51:11.085
You know, why are they involved in
1020
00:51:11.085 –> 00:51:12.165
all these different parts?
1021
00:51:12.425 –> 00:51:14.605
And you know, it, at the end of the day,
1022
00:51:14.605 –> 00:51:15.805
it is a blessing and a curse.
1023
00:51:15.915 –> 00:51:16.965
It’s highly complex.
1024
00:51:17.025 –> 00:51:19.645
It makes it much more difficult to, uh, you know,
1025
00:51:19.645 –> 00:51:22.005
to raise in some ways, which is an already
1026
00:51:22.145 –> 00:51:24.365
and a very difficult environment currently.
1027
00:51:25.225 –> 00:51:28.445
But it, it also provides long-term if, if, uh,
1028
00:51:28.445 –> 00:51:30.845
they can get their resiliency, you know, and, and,
1029
00:51:30.945 –> 00:51:33.685
and like I said earlier, you know, the cooperative nature
1030
00:51:33.825 –> 00:51:36.525
of, you know, partnering with, uh, you know,
1031
00:51:36.525 –> 00:51:38.645
partner farmers is, is an important part,
1032
00:51:38.665 –> 00:51:40.565
but CPG is really tough.
1033
00:51:40.755 –> 00:51:43.805
I’ll leave it at that. I’ll let the companies do the,
1034
00:51:44.145 –> 00:51:45.245
do the talking on it.
1035
00:51:45.425 –> 00:51:48.885
Um, and you know, honestly, there’s other channels
1036
00:51:48.885 –> 00:51:50.525
that I think maybe we have some excitement around.
1037
00:51:50.645 –> 00:51:53.165
I think there’s other, you know, uh, we’ve been,
1038
00:51:53.185 –> 00:51:56.245
we get asked, well, why does a SF focus on, on kelp?
1039
00:51:56.245 –> 00:51:59.245
Well, besides the fact that native, it’s, it’s, it’s
1040
00:51:59.315 –> 00:52:01.965
what is able to be leveraged with line grown.
1041
00:52:02.225 –> 00:52:05.885
You know, kind of, you know, as this picture shows kind of,
1042
00:52:05.885 –> 00:52:08.965
uh, you know, way, but there are probably other, uh,
1043
00:52:09.385 –> 00:52:12.645
you know, species that and, you know, can be introduced
1044
00:52:12.665 –> 00:52:15.485
and that might, might have some appeal, um,
1045
00:52:16.475 –> 00:52:20.525
that maybe some consumers, you know, which Mike had in the q
1046
00:52:20.525 –> 00:52:23.885
and a as well, may, uh, may be more inclined, uh,
1047
00:52:24.025 –> 00:52:27.125
to be interested in, uh, versus a kelp base.
1048
00:52:27.305 –> 00:52:28.565
So I’ll leave it at that.
1049
00:52:28.645 –> 00:52:30.925
I know there’s plenty of experience in this room.
1050
00:52:31.705 –> 00:52:34.165
Um, but yeah, it’s something that’s on our mind.
1051
00:52:34.335 –> 00:52:39.165
We’re, we’re, we’re working on both end use application on,
1052
00:52:39.745 –> 00:52:43.205
you know, whether it’s kelp or, or alternative, um,
1053
00:52:43.265 –> 00:52:44.925
and what channels and, uh,
1054
00:52:44.945 –> 00:52:46.685
and then also the business model of it,
1055
00:52:46.685 –> 00:52:48.805
and then consumer behavior change
1056
00:52:49.305 –> 00:52:52.245
and investor behavior change, which is another long,
1057
00:52:52.465 –> 00:52:53.805
uh, term goal.
1058
00:52:57.475 –> 00:53:01.225
Thank you, Jason. Um, yeah, actually in our last webinar
1059
00:53:01.485 –> 00:53:03.625
as well, we had Food for Climate League
1060
00:53:03.645 –> 00:53:07.185
and they did a lot of research into, um, consumer acceptance
1061
00:53:07.405 –> 00:53:09.745
of sea vegetable food products.
1062
00:53:09.745 –> 00:53:12.265
So definitely check that out for more information as well.
1063
00:53:12.325 –> 00:53:14.305
And, and there’s a lot to learn, um, sort
1064
00:53:14.305 –> 00:53:15.745
of about terminology and,
1065
00:53:15.765 –> 00:53:18.505
and what consumers are looking for with respect to,
1066
00:53:18.805 –> 00:53:20.185
um, kelp based products.
1067
00:53:20.685 –> 00:53:23.065
Do other speakers wanna weigh in on that one?
1068
00:53:23.065 –> 00:53:24.865
Otherwise we can move to the next question.
1069
00:53:29.035 –> 00:53:32.645
Cool. Okay. Um, so a question for Kehl Labs.
1070
00:53:32.865 –> 00:53:36.405
Um, Alex, could you tell us more, um, about
1071
00:53:37.085 –> 00:53:39.885
sourcing your sourcing strategy and what that looks like?
1072
00:53:42.005 –> 00:53:45.845
Absolutely. Um, we primarily work with Brown seaweeds,
1073
00:53:46.025 –> 00:53:48.965
so we’re limited to, uh, to those.
1074
00:53:49.385 –> 00:53:51.285
Um, kelp is obviously a brown seaweed
1075
00:53:51.285 –> 00:53:52.445
and one that we’ve worked with.
1076
00:53:53.105 –> 00:53:56.285
Um, what we’ve noticed though is, uh,
1077
00:53:56.555 –> 00:53:59.205
working in the US is a bit challenging for us,
1078
00:53:59.205 –> 00:54:02.725
particularly right now due to volumes and price points.
1079
00:54:03.345 –> 00:54:06.685
Um, so if there is any way we can support initiatives in the
1080
00:54:06.745 –> 00:54:10.805
US on, um, getting those, uh, volumes
1081
00:54:10.805 –> 00:54:15.485
and price points to be more, um, to volumes to be higher
1082
00:54:15.485 –> 00:54:16.485
and price points to be lower,
1083
00:54:16.555 –> 00:54:19.005
that would be obviously within our interest.
1084
00:54:19.585 –> 00:54:22.685
Um, and as a result is kind of let us to look outside
1085
00:54:22.685 –> 00:54:27.405
of the US So we source, um, from, uh, Europe,
1086
00:54:27.495 –> 00:54:31.245
south America, Asia, kind of all over right now, um,
1087
00:54:31.265 –> 00:54:34.405
in order to, um, plan for the future
1088
00:54:34.465 –> 00:54:36.685
and make sure we’re diversifying our raw materials.
1089
00:54:39.565 –> 00:54:41.985
Thanks for sharing that. And yeah, yeah, we hear that time
1090
00:54:41.985 –> 00:54:44.105
and time again from buyers is that they’re,
1091
00:54:44.105 –> 00:54:46.745
they’re really interested in purchasing seaweed
1092
00:54:46.745 –> 00:54:47.905
that’s grown here in the us
1093
00:54:47.925 –> 00:54:50.785
but there are just bottlenecks that have to be solved, um,
1094
00:54:50.785 –> 00:54:53.425
with processing and getting it into the formats, um,
1095
00:54:53.425 –> 00:54:56.625
that buyers are looking for, dry it extracted, et cetera.
1096
00:54:56.965 –> 00:54:59.945
Um, so definitely opportunity to work on these challenges
1097
00:55:00.325 –> 00:55:02.185
and, um, a lot of potential, a lot
1098
00:55:02.185 –> 00:55:04.625
of buyers on the other side who want to work with you.
1099
00:55:04.965 –> 00:55:06.985
If we can solve these challenges as an industry,
1100
00:55:08.795 –> 00:55:09.795
Yeah, for sure. Happy to
1101
00:55:09.795 –> 00:55:11.285
come together with people on
1102
00:55:11.285 –> 00:55:12.605
that in whatever way we can.
1103
00:55:12.845 –> 00:55:15.085
’cause it is, it is in both people’s fa favor.
1104
00:55:16.635 –> 00:55:20.075
Absolutely. Um, okay, a question from Mike.
1105
00:55:20.295 –> 00:55:23.515
Um, so Mike’s wondering, um, I know
1106
00:55:24.165 –> 00:55:27.995
Jason mentioned this, um, around raising awareness, um,
1107
00:55:28.265 –> 00:55:30.595
with consumers and sort of behavior change
1108
00:55:30.595 –> 00:55:31.635
regarding seaweed.
1109
00:55:31.975 –> 00:55:33.275
Um, Mike mentioned
1110
00:55:33.275 –> 00:55:35.555
that their organization has found it an uphill battle.
1111
00:55:36.015 –> 00:55:38.395
Um, so what is, what advice do you have for folks
1112
00:55:38.395 –> 00:55:42.035
who are looking to, um, you know, raise consumer awareness?
1113
00:55:48.875 –> 00:55:50.735
And anyone’s, anyone’s welcome to jump in?
1114
00:55:55.675 –> 00:55:58.715
I mean, I, I referenced it a little bit in my discussion,
1115
00:55:58.715 –> 00:56:02.035
which is I think, you know, there needs to be some funding.
1116
00:56:02.375 –> 00:56:04.755
It, it’s a tough, it’s a tough space,
1117
00:56:04.895 –> 00:56:07.675
but again, you know, it’s not, it, it is consumer awareness.
1118
00:56:07.785 –> 00:56:11.235
It’s it investor awareness, it’s company awareness.
1119
00:56:11.365 –> 00:56:15.435
There just needs to just generally be more awareness, um,
1120
00:56:15.695 –> 00:56:19.475
on, on the space, uh, across all end use applications.
1121
00:56:19.715 –> 00:56:23.965
I mean, I think as, as Alex probably will, will attest, it’s
1122
00:56:24.345 –> 00:56:27.525
for particularly looking at a company like a SF
1123
00:56:27.545 –> 00:56:29.605
and probably others on this, on this meeting
1124
00:56:30.315 –> 00:56:34.845
when you’re a producer, um, you know, that, you know,
1125
00:56:35.475 –> 00:56:39.565
like a SF there was I think some excitement a few years ago
1126
00:56:39.565 –> 00:56:40.965
about emerging companies
1127
00:56:40.985 –> 00:56:43.325
and the volumes that they might be able to,
1128
00:56:43.865 –> 00:56:48.125
to purchase particularly on biomaterials areas like that.
1129
00:56:48.465 –> 00:56:50.405
And, um, it’s been tough
1130
00:56:50.405 –> 00:56:52.325
because maybe some of the assumptions
1131
00:56:52.325 –> 00:56:54.365
that were baked in a few years ago in a,
1132
00:56:54.385 –> 00:56:57.485
in a more high fueled VC environment where those
1133
00:56:58.015 –> 00:57:01.285
innovative emerging companies were, you know,
1134
00:57:01.505 –> 00:57:02.765
on the offensive and,
1135
00:57:02.825 –> 00:57:06.165
and moving fast has have kind of dissipated.
1136
00:57:06.265 –> 00:57:08.885
And, and that has to be factored in on the production side.
1137
00:57:08.885 –> 00:57:12.285
And then on the, you know, on the, uh, you know, on this,
1138
00:57:12.465 –> 00:57:15.045
on this question in particular, it’s just
1139
00:57:15.545 –> 00:57:20.085
to us there’s just a long way to go both on the individuals,
1140
00:57:20.185 –> 00:57:21.245
you know, consumer side
1141
00:57:21.245 –> 00:57:24.485
and the corporate side on, on this, uh, behavior change.
1142
00:57:24.605 –> 00:57:28.765
I mean, what we’ve found is, you know, demographically, yes,
1143
00:57:29.025 –> 00:57:31.885
the younger demographic will buy based on environment,
1144
00:57:32.025 –> 00:57:35.005
but still just as we saw as investors, you know,
1145
00:57:35.505 –> 00:57:38.325
in the previous decade in areas like all protein,
1146
00:57:39.025 –> 00:57:42.165
you’ve gotta hit it on price parity, at least pretty close.
1147
00:57:42.185 –> 00:57:45.605
You’ve gotta hit it on performance, on taste, deliciousness,
1148
00:57:46.245 –> 00:57:48.285
nutrient density profile, et cetera.
1149
00:57:48.645 –> 00:57:50.085
I mean, you’ve gotta drive towards that.
1150
00:57:50.345 –> 00:57:53.245
Um, you know, people are not gonna just buy just on the
1151
00:57:53.245 –> 00:57:55.445
sustainability profile alone from
1152
00:57:55.525 –> 00:57:57.045
what we’ve been able to see.
1153
00:58:00.055 –> 00:58:03.385
Yeah, yeah, totally agree with, uh, what you just shared,
1154
00:58:03.395 –> 00:58:06.865
Jason, as well as, you know, it’s a nascent market
1155
00:58:07.645 –> 00:58:10.985
as you were talking about the sustainable seafood industry.
1156
00:58:11.375 –> 00:58:15.385
Currently, the alternative seafood industry only takes up
1157
00:58:15.385 –> 00:58:19.825
around 1% of the overall seafood share in the us um, as
1158
00:58:19.825 –> 00:58:21.225
of last year, I believe.
1159
00:58:21.805 –> 00:58:25.345
So it’s, uh, it’s part of communicating with, um,
1160
00:58:26.105 –> 00:58:27.545
existing established companies
1161
00:58:27.605 –> 00:58:31.305
or institutions like Q Labs, way others that are already
1162
00:58:31.865 –> 00:58:33.625
speaking up about the benefits
1163
00:58:33.765 –> 00:58:37.665
and the clear environmental impact of seaweed, um, as well
1164
00:58:37.665 –> 00:58:40.865
as any potential to align with emerging regulations
1165
00:58:40.925 –> 00:58:42.505
or policies that are coming up.
1166
00:58:43.085 –> 00:58:46.625
Um, and then just continuing to speak about the benefits.
1167
00:58:46.805 –> 00:58:51.065
You know, I think, um, connecting with the ecosystem, uh,
1168
00:58:51.065 –> 00:58:55.265
builders that you all are, are part of, um, is so critical
1169
00:58:55.365 –> 00:58:59.065
to ensure that we can make sure, uh,
1170
00:59:00.165 –> 00:59:04.135
seaweed continues to be a solution toward these issues
1171
00:59:04.135 –> 00:59:06.135
that we’re seeing around plastic pollution
1172
00:59:06.275 –> 00:59:10.295
or, um, you know, seaweed alternatives, et cetera.
1173
00:59:12.675 –> 00:59:14.045
Yeah, thanks so much. Camila
1174
00:59:14.045 –> 00:59:16.725
and SOA does such a great job of really building
1175
00:59:16.795 –> 00:59:19.565
that community, um, amongst their entrepreneurs.
1176
00:59:19.665 –> 00:59:21.245
And I think that’s so important in,
1177
00:59:21.345 –> 00:59:23.685
in creating this movement is that we all need
1178
00:59:23.685 –> 00:59:26.885
to be saying the same thing and like share that message over
1179
00:59:26.905 –> 00:59:30.125
and over again to consumers so that it really hits home
1180
00:59:30.145 –> 00:59:32.645
and people, um, start to become more aware.
1181
00:59:33.505 –> 00:59:37.045
Um, we have just about a minute left, Camila, I know
1182
00:59:37.045 –> 00:59:38.685
that you typed in, um,
1183
00:59:38.985 –> 00:59:41.045
the answer about the Ecopreneur network,
1184
00:59:41.185 –> 00:59:44.085
but do you wanna just say really quickly, um, who that’s for
1185
00:59:44.185 –> 00:59:45.405
and application criteria
1186
00:59:45.465 –> 00:59:47.325
so folks have a sense of who should apply?
1187
00:59:49.595 –> 00:59:51.525
Yeah, definitely. Thanks so much, grace.
1188
00:59:51.625 –> 00:59:55.005
So, um, as I mentioned in Deadline,
1189
00:59:57.145 –> 00:59:58.845
um, so early October
1190
00:59:59.065 –> 01:00:01.725
and then, um, the application is open
1191
01:00:01.825 –> 01:00:04.445
for any incorporated for-profit company
1192
01:00:04.555 –> 01:00:08.365
that has at least a pre sea or seed stage financing round
1193
01:00:08.825 –> 01:00:10.765
and aligns with any of our impact areas.
1194
01:00:11.185 –> 01:00:13.885
Um, so greenhouse gas reduction, pollution reduction,
1195
01:00:14.475 –> 01:00:17.445
ecosystem species preservation, sustainable seafood,
1196
01:00:17.745 –> 01:00:22.105
and ocean data and literacy, we hope to see you apply.
1197
01:00:23.535 –> 01:00:26.465
Awesome. Okay, well time’s up.
1198
01:00:26.685 –> 01:00:30.225
Um, and so that’s it for today. Uh, just a quick request.
1199
01:00:30.725 –> 01:00:33.585
We are going to share a feedback survey both live right now,
1200
01:00:34.045 –> 01:00:35.305
um, in our follow-up email.
1201
01:00:35.325 –> 01:00:36.665
And please, please fill that out.
1202
01:00:37.165 –> 01:00:39.745
Um, we also have a, um,
1203
01:00:40.125 –> 01:00:43.225
survey about our entire series since we’ve reached the end.
1204
01:00:43.845 –> 01:00:45.425
And, um, you’ll have the opportunity
1205
01:00:45.485 –> 01:00:47.865
to win products worth up to a hundred dollars.
1206
01:00:48.005 –> 01:00:49.545
So definitely keep an eye out for that.
1207
01:00:49.965 –> 01:00:52.265
Uh, we really wanna know what you thought of seed to sale,
1208
01:00:52.925 –> 01:00:55.545
and, um, even though our live sessions are ending,
1209
01:00:55.685 –> 01:00:58.225
we wanna make sure we keep the seaweed hype going.
1210
01:00:58.725 –> 01:01:01.225
Um, so definitely stay in the loop with GreenWave
1211
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and other folks on this call, um, on, in our hub
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and by joining folks’ newsletters.
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Um, and we’ll have new programming launching in the fall.
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Um, we’ll be kicking off farmer form again.
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Um, and I just wanted to say that it’s been such an honor,
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um, to host these sessions
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and explore, you know, the potential
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and the challenges of bringing kelp to market with you all.
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And thank you so much again for being here, uh,
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for your feedback and for asking
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so many insightful questions.
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Um, I hope you’re all inspired to join the new Blue economy,
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um, and solve bottlenecks in this industry, um,
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and work with farmers to bring this regenerative,
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untapped resource to the world.
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So thank you all.