- Program aims to support small businesses and promote sustainable technologies for climate resilience
- Public-private partnerships to drive innovation and scale business models for climate impact
In a significant move to combat climate change and bolster the resilience of coastal communities, the Biden-Harris Administration has announced a $60 million investment in the Ocean-Based Climate Resilience Accelerators program. This program, launched by the Department of Commerce and the National Oceanic and Atmospheric Administration (NOAA), aims to support small businesses and promote sustainable technologies focused on climate resilience.
Funded through President Biden’s Investing in America agenda and the Inflation Reduction Act, the program will facilitate public-private partnerships to attract capital, advance technologies, and scale business models that have a positive climate impact. By engaging both the public and private sectors, the program seeks to develop innovative solutions and next-generation technologies to protect the environment and strengthen local economies.
Secretary of Commerce Gina Raimondo emphasized the importance of involving small businesses in developing climate solutions, stating, “Thanks to President Biden’s Investing in America agenda, we are ensuring that America’s small businesses—the backbone of our economy—are part of developing climate solutions that make our communities healthier and local economies stronger.”
The Ocean-Based Climate Resilience Accelerators program will collaborate with eligible U.S.-based organizations to establish business accelerators focusing on various ocean-based climate resilience themes. These themes include ocean-based renewable energy, coastal and ocean carbon sequestration monitoring and accounting, hazard mitigation and coastal resilience, ecosystems services, and other relevant areas.
NOAA Administrator Rick Spinrad, Ph.D., highlighted the urgent need for climate resilience and the importance of collaboration, stating, “Facing this challenge requires the active participation of government, the private sector, academia, tribes, and stakeholders to find effective resilience strategies. This accelerator program creates a forum for those communities to come together and advance our capacity for resilience.”
The program will operate in two phases. The first phase, open for applications until September 11, 2023, will fund selected projects with up to $250,000 per project for accelerator program design. In the second phase, all phase one applicants will have the opportunity to apply for funding of up to $10 million each to implement their program design.
Nicole LeBoeuf, director of NOAA’s National Ocean Service, expressed enthusiasm for the program’s potential, stating, “With this program, NOAA is boosting the potential for novel and innovative solutions to create climate resilience by advancing public-private partnerships. This not only benefits coastal communities but also supports our nation’s growing blue economy.”
By fostering collaboration, providing financial support, and encouraging innovation, the Ocean-Based Climate Resilience Accelerators program is expected to contribute to the development of sustainable business models and high-impact ocean-based climate technologies, products, and services. The ultimate goal is to address the challenges of climate resilience and adaptation effectively.
To learn more about the program and access the Notice of Funding Opportunity, interested parties can visit the U.S. Integrated Ocean Observing System Office website. The program’s implementation reflects NOAA’s commitment to building climate resilience across the nation in line with the Inflation Reduction Act.