Press Release: Ocean Impact Organization invests in Saathi

Press Release: Ocean Impact Organization invests in Saathi

On this World Ocean Day, we are thrilled to announce that Ocean Impact Organization in investing in Saathi and we are looking forward to working with them in this next phase of our journey. OIO recognizes the contribution Saathi is making to reduction of ocean plastics in addition to addressing lack of access to menstrual products. Please see the official press release below.

 

OIO announces Australia’s first angel investment fund and startup accelerator dedicated to improving ocean health

Sydney, World Ocean Day, 8 June 2022

In a boost to ocean health on World Ocean Day 2022, Australia’s Ocean Impact Organization has announced six potentially game changing startups that will participate in the inaugural Ocean Impact Accelerator Program 2022.


Each startup is attempting to solve a complex ocean challenge with innovative technologies and new approaches that can help improve the overall health of the ocean, climate and the broader environment. OIO is proud to announce the startups and their solutions on this fitting occasion with the theme of World Oceans Day 2022 being: ‘Revitalization: Collective Action for the Ocean’.

To support the participating startups, Australia’s first angel investment fund dedicated to ocean health solutions was established, successfully raising over one million dollars. Each of the six startups will receive ~$100k investment to participate in the 7-month program that will culminate in a live pitch opportunity to an in person and virtual audience at OIO’s first annual Ocean Impact Innovation Showcase event in Sydney on 24 November 2022.

CEO and Co-founder of Ocean Impact Organization Nick Chiarelli said, “I’m delighted to announce the launch of this accelerator program, and equally delighted to announce the successful raise of over one million dollars into Australia’s first early stage investment fund focused on ocean health. We know that ideas follow funding, so it’s vital that we drive increased capital into this space in order to reach the critical mass of founders and solutions that can ultimately transform ocean and planetary health. The quality of applications that we received from startups operating across Australia and the Pacific was very pleasing and is indicative of this fast emerging ocean impact sector that only a few years ago was nascent at best”.

Whilst this is the first investment fund and accelerator program of its kind in Australia, there is a rapidly emerging ecosystem forming globally to support and invest in transformative, scalable ocean impact ventures. The recently formed ‘1,000 Ocean Startups’ coalition is a great example where incubators, accelerators, venture capital firms, competitions and matching platforms have united on a mission to support one thousand ocean impact startups. OIO is a proud member of this coalition.

Chairman of Virgin Sir Richard Branson spoke at the launch of the coalition in 2021 stating, “We need to unleash the power of entrepreneurship. Across the globe companies, entrepreneurs and investors are stepping up to the challenges facing the ocean and increasingly realizing that what’s good for the ocean is good for business.”


The six startups and the solutions they are working on are (in alphabetical order):
Mayani, Manila, Philippines: Mayani is an agri-fisheries platform building a sustainable pathway to market for the Philippines' 10 million smallholder farmers and fishers. The agri-fisheries marketplace directly sources agri-fisheries products from smallholder fishers and distributes them downstream to the market in a sustainable and digital value chain.

Nuvoe, Sydney, Australia: Nuvoe is building a range of products to deliver personalized, crafted mineral water from any source in the world, all while trying to eliminate single-use plastic bottles.


RiverRecycle, Helsinki, Finland: RiverRecycle aims to stop ocean plastic pollution by implementing river plastic recovery, land-based collection, mechanical recycling and chemical recycling to create value from otherwise ‘low-value’ plastic waste.


Saathi, Ahmedabad, India: Saathi manufactures 100% biodegradable and compostable sanitary pads from banana and bamboo fibers that not only addresses waste but also ethical sourcing and supply chains which can work to alleviate poverty.

Skyology, Oregon, USA: Skyology rebuilds coral reefs with captured air pollution. They use proprietary georeactor technology to convert mining waste and atmospheric CO2 into a mild and safe form of ocean alkalinity


Uuvipak, Brisbane, Australia: Uuvipak upcycles clean organic food waste into single-use plastic alternatives, such as takeaway containers, cups, and cutlery. Unlike most biodegradable products available on the market, these products decompose naturally within a few weeks and are even edible!


To read more about the startups and ways to get involved as a mentor, investor or future program participant please visit here.

-End-
For press enquiries please contact:

Tim Silverwood, Head of Marketing and Community
tim@ocean-impact.org T: 0420 668 114
Investor enquiries contact: info@ocean-impact.org

https://www.ocean-impact.org/accelerator-program-2022-cohort


About OIO
Ocean Impact Organisation is Australia’s ocean impact innovation ecosystem and startup accelerator. Our purpose is to transform ocean health through inspiration, innovation, and good business.
Our mission is to support and accelerate ocean impact businesses. We exist to help people start, grow and invest in businesses that positively impact the ocean.

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