Summit Showcases Market Opportunity in Ocean Discovery

Summit Showcases Market Opportunity in Ocean Discovery

On March 19, Bigelow Laboratory for Ocean Sciences co-hosted the North Atlantic Blue BioTech Summit in Portland, Maine, bringing together more than 200 investors, corporate leaders, supply chain representatives, scientists, entrepreneurs, and policymakers from across the globe. The full-day event highlighted rapidly emerging market opportunities for marine biotechnology products, underscoring how scientific discovery is increasingly translating into high-value and scalable businesses.

The summit marked the culmination of the Maine Blue Biotech Innovation Studio, an intensive program designed by partner Hatch Blue - a global investment firm and accelerator - to support early-stage companies working at the intersection of blue biotechnology and commercialization. In the weeks leading up to the summit, selected teams from around the world gathered at Bigelow Laboratory for a hands-on "boot camp" to refine their value propositions, strengthen their business strategies, and prepare to present to investors. The summit and studio initiative were funded by the Maine Technology Institute, with additional summit sponsorship from the Maine International Trade Center and the Roger Williams University Center for Economic and Environmental Development.

"It's really wonderful to have such a broad mix of perspectives," said Beth Orcutt, vice president for research at Bigelow Laboratory. "We're all connected by a shared interest in healthy oceans, sustainability, and the responsible use of our resources. This summit is about bringing those perspectives together to transform ideas into impact."

Throughout the summit, speakers explored the expanding potential of blue biotechnology, from food and feed ingredients to biomaterials, bioplastics, and agricultural applications. Sessions focused on unlocking marine resources for high-value use, understanding investment and market trends, and identifying opportunities across the North Atlantic region.

Four panels explored key themes of R&D frontiers, North Atlantic opportunities, investor perspectives, and corporate perspectives. They brought together voices from research, industry, investment, nonprofits, and government, highlighting both recent progress and the path ahead. Speakers emphasized the importance of collaboration, the need for infrastructure and investment, and the growing alignment between scientific innovation and market demand.

The investor panel featured perspectives from RA Capital, S2G Investments, Avalon Ventures, Hatch Blue, and Norfolk Green Ventures, representing experience across the capital stack, from early stage to scale. All panelists pointed to the importance of focus, scalability, and clear pathways to commercialization as the sector continues to mature.

Representatives from major multinational brands and makers of consumer products on the corporate panel - Unilever, Skretting, Stonyfield Organic, and UrthPact - explored how large companies are approaching sustainable innovation and the realities of bringing innovative products and ingredients into their supply chains.

Sarah Hosking of Unilever said, "We are looking for products that deliver superior functionality, are sustainably sourced, and can integrate seamlessly with our existing offerings."

Scott Franklin of Stonyfield Organic, which is rooted in New England, added, "We're looking for solutions that are coming out of this region," underscoring growing interest in partnerships rooted in the North Atlantic ecosystem.

"This is the beginning of what we hope is a growing group of corporates here. Embrace the bridge between the startup community and larger corporations," said Blaine Grimes, who moderated the panel.

Keynote speaker Thor Sigfusson encouraged attendees to look beyond traditional seafood systems and instead embrace collaboration, innovation, and full-value utilization. Drawing on Iceland's success in transforming marine byproducts into high-value products, he highlighted the importance of building trust across industries and creating opportunity from materials too often treated as waste.

As Sigfusson put it, "We need to connect all these dots," describing the need for stronger connections across researchers, entrepreneurs, harvesters, fishermen, and communities. He also made the case for a startup-driven model of change, saying "we can't take the top-down approach. We need to have the bottom approach," pointing to the role of emerging ideas and partnerships rather than leaving innovation "only in the hands of a few large corporations."

The spirit of collaboration and forward momentum carried into the afternoon, when five teams from the innovation studio took the stage for a series of rapid-fire pitches. Each presentation showcased a different approach to transforming marine resources into real-world solutions, from novel materials to new applications in food and agriculture. The pitch session was met with enthusiastic applause, followed by a lively reception where conversations continued among founders, investors, and partners.

Partners across Maine's innovation ecosystem echoed that momentum. The summit also highlighted Bigelow Laboratory's role in advancing blue biotechnology by connecting scientific discovery with real-world application. Through its leadership in the innovation studio and broader ecosystem, the institution is helping create pathways for early-stage ideas to be tested, refined, and moved toward commercialization.

Taken together, these efforts are positioning Maine as a leader in the emerging blue biotechnology economy. "With its unique combination of research strengths, working waterfront, and access to global markets, Maine is well positioned to lead the next wave of blue biotech innovation," said Wayne Murphy, co-founder and partner of Hatch Blue.

The summit also underscored Bigelow Laboratory's role in connecting scientific discovery with real-world application. With world-leading expertise in algae and marine systems, and as home to one of the most genetically diverse microalgae collections in the world, the laboratory plays a key role in advancing blue biotechnology across New England.

By bringing together global perspectives and grounding them in Maine's strong marine science ecosystem, the summit, along with the studio that preceded it, demonstrated how collaboration can accelerate progress. For Bigelow Laboratory, it was an opportunity to showcase both its scientific leadership and its growing role in supporting innovation beyond the lab.

As the day came to a close, the conversation pointed toward a shared conclusion: blue biotechnology is ready to scale globally.

Photo Captions

Photo 1: Bigelow Laboratory Vice President for Research Beth Orcutt introduces participants on the investor perspectives panel at the North Atlantic Blue BioTech Summit in Portland on March 19 (Credit: Kerry Thurlow/Bigelow Laboratory for Ocean Sciences).

Photo 2: Senior Research Scientist Michael Lomas (right) speaks with Adam St. Gelais (left), aquaculture innovation specialist at the University of Maine Aquaculture Research Institute, during the summit (Credit: Kerry Thurlow/Bigelow Laboratory for Ocean Sciences).

Photo 3: Tanja Hoel, managing director of Hatch Blue, leads a question and answer session with Thor Sigfusson, founder and chairman of the Iceland Ocean Cluster, during the North Atlantic Blue BioTech Summit (Credit: Kerry Thurlow/Bigelow Laboratory for Ocean Sciences).

Photo 4: Nearly 200 investors, leaders, supply chain representatives, scientists, entrepreneurs, and policymakers gathered for the summit (Credit: Kerry Thurlow/Bigelow Laboratory for Ocean Sciences).