Business idea · Media
OceanTech Startups
OceanTech Startups is a wave of startups focused on ocean technology, similar to the space exploration industry, aiming to innovate and modernize the stagnant ocean economy. It was pitched on My First Million in the episode "Ocean is the new space" - 7 Wild Ideas for the $3 Trillion Dollar Frontier" (aired April 7, 2025).
At a glance
| Podcast | My First Million |
|---|---|
| Hosted by | Sam Parr and Shaan Puri |
| Episode | "Ocean is the new space" - 7 Wild Ideas for the $3 Trillion Dollar Frontier |
| Aired | April 7, 2025 |
| Category | Media |
| Real companies on the episode | Chip Forsyte's Treasure Hunting, Wild Type, Ulysses, Saronic, Rainmaker, SaleDrone |
The problem it solves
The ocean economy is under-innovated, with much of the technology being outdated. There's a need for modern solutions in transportation, fisheries, energy, and environmental protection.
How it makes money
Startups could operate on a subscription model for services or one-time purchases for technology solutions, similar to SpaceX's model for launching satellites.
Skills you need
Knowledge of marine engineering, robotics, software development, and environmental science would be essential to develop and manage these ocean technologies.
The market, and why this works now
Advancements in autonomous underwater vehicles (AUVs) are making ocean exploration and resource management more feasible. Startups can generate initial revenue by offering services through platforms like Ocean Infinity, which connects clients with marine technology solutions. However, securing funding can be challenging due to high capital requirements for research and development, making it essential for founders to plan their financial strategy carefully.
Our analysis, written after the episode. Not a quote from the show.
Real companies discussed on this episode
- Chip Forsyte's Treasure Hunting
A treasure hunting venture that seeks to uncover valuable shipwrecks and artifacts from the ocean floor.
- Wild Type
Wild Type is a startup focused on cultivating sustainable sushi-grade salmon in a lab, aiming to provide an alternative to traditional fishing and farming.
- Ulysses
Ulysses is a startup focused on building a general-purpose autonomy platform for maritime operations.
- Saronic
Saronic develops unmanned surface vehicles for defense applications in the ocean.
- Rainmaker
Rainmaker is a marine geoengineering company focused on managing ocean ecosystems and carbon levels through innovative methods.
- SaleDrone
SaleDrone builds autonomous sailboats equipped with sensors to gather data from the ocean.
Where this idea came from
Podcast: My First Million, hosted by Sam Parr and Shaan Puri
Episode: "Ocean is the new space" - 7 Wild Ideas for the $3 Trillion Dollar Frontier
Aired:
Summarized from the episode transcript. The show does not say which speaker raised each idea, so we credit the show, not a person.