In the short-term, the blue innovation recovery project is intended to act as a platform for growth and resilience for bluetech startups and small seafood businesses that are facing significant…

The Gulf of Maine Research Institute was awarded a $2.63 million project grant from the Department of Commerce Economic Development Administration's Economic Adjustment Assistance program. The grant will support the Blue Innovation Recovery Project, which aims to strengthen the Gulf of Maine region's emerging blue economy innovation cluster in the short and long term.

In the short term, the project will act as a growth and resilience platform for blue tech startups and small seafood businesses facing challenges from the pandemic. In the medium to long term, the project focuses on building a resilient regional economy through a Blue Innovation Corridor linking hubs of excellence in Boston and Portland, Maine. The grant will help startups and small businesses in the seafood sector, a historically significant part of New England's economy and culture, to innovate, adapt to volatile markets, and survive and grow. It will do so by creating connections among entrepreneurs, the region's research expertise and lab capacity, and existing industry and private capital. The resulting innovation platform is expected to lead to a more diverse seafood value chain, increased investment, and new STEM and working-class jobs in New England's coastal communities.

In the short-term, the blue innovation recovery project is intended to act as a platform for growth and resilience for bluetech startups and small seafood businesses that are facing significant challenges as a result of the pandemic. In the medium to long-term, the project will focus on building a resilient regional economy through the use of a blue innovation corridor with hubs of excellence in boston and portland. By supporting innovation in the seafood sector, an historically significant piece of new england's economy and culture, the blue innovation recovery project will stimulate job creation and capital attraction as the seafood industry innovates and adapts to volatile markets. The project team will better connect the vibrant greater portland and greater boston blue economy ecosystems. A new blue economy innovation corridor will allow each respective region to bring to bear its core competencies, resulting in a stronger economic cluster. Specifically, this strategy will strengthen the gulf of maine region's emergence as a global center of excellence for blue economy innovation by building on and better linking the traditional seafood system to the region's vibrant stem-based startup ecosystem. This grant will help startups and small-businesses survive and grow by creating deliberate connections between and among entrepreneurs, new england's multi-institutional research expertise and lab capacity, and existing industry and private capital. The resulting innovation platform will lead to a more diverse seafood value chain, increased investment, and the creation of both stem and working-class jobs in new england's coastal communities.