The World's First Incubation Program Dedicated to Blue Carbon: Driving Open Innovation with Startups Across the Globe in Singapore

Blue carbon ecosystems, encompassing coastal ecosystems such as mangroves, tidal marshes, seagrass meadows, seaweeds, and seagrasses, play a vital role in absorbing carbon emissions. These ecosystems have gained increasing recognition for their contribution to combating climate change by capturing and storing carbon from the atmosphere. As blue carbon gains attention as a new source for carbon absorption, Idemitsu Americas Holdings (IAH), a wholly-owned subsidiary of Idemitsu Kosan Co., Ltd., based in San Jose, USA, partnered with Hatch Blue to launch a first-of-its-kind incubation program, the "Blue Carbon Innovation Studio", focused exclusively on blue carbon startups.

The Blue Carbon Innovation Studio is designed to support startups overcome early-stage challenges and develop their businesses further. The program provides a comprehensive range of mentorship and advisory inputs, advancing the network, knowledge and opportunities of the selected companies. This groundbreaking studio brought together 11 selected startups from around the world. With guidance from IAH and Hatch Blue, these companies participated in a two-week final program in Singapore, collaborating with multinationals, research institutions, and policymakers to strengthen their networks and gain valuable insights.
By creating a platform for a diverse range of stakeholders in the blue carbon sector, IAH aims to promote open innovation and drive new business opportunities.

The selected 11 startups and participants

This program was organized by Hatch Blue and sponsored by IAH, running for approximately five months starting in June 2024. Out of 70 applicants, 11 startups were selected based on their innovation, market potential, vision, and strategy. These startups represent diverse technologies and business models and were also evaluated for their potential to expand into Asia and Japan. The final program was held in Singapore, a hub for collaborative ecosystems, and brought together government agencies, climate-focused investors, NGOs, academia, financial institutions, and major corporations. During the two-week program, activities included pitch events, discussions on blue carbon markets, and strategies for generating carbon credits.

A mentoring session facilitated by Enterprise Singapore

Carbon sequestration and/or reduction

Direct Ocean Capture technologies

Measurement, Reporting, and Verification (MRV) technologies

Other blue carbon-related technologies and services

BlueGreen

Water Technologies

Blusink

CarbonEthics

Distant Imagery Solutions

Kumi Analytics

MacroCarbon

Ocean Ledger

OoNee Sea Urchin Ranch

Scape Carbon Inc

ZerOcean Energy

A panel discussion at the Singapore International Agri-Food Week

During the final program, Singapore hosted the Singapore International Agri-Food Week. As part of the event's main attraction, the Asia-Pacific Agri-Food Innovation Summit (SIAW), IAH and Hatch Blue introduced the incubation program and facilitated a panel discussion on the importance of the blue carbon ecosystem.

Hatch Blue, a globally recognized venture capital firm and accelerator program, has a strong presence in the Americas, Europe and Asia, with a primary focus on investing in high-growth startup and sustainable companies within the aquaculture and alternative seafood sectors. IAH and Hatch Blue began their collaboration in August 2023. Leveraging their extensive networks, expertise, and experience, both organizations will continue to promote the development of the blue carbon sector and drive business creation toward decarbonization.

Founded in 2020, Idemitsu Americas Holdings was established to enhance the development and management of new business initiatives across the Americas. Through collaboration with funds, startups, and academia, IAH aims to realize Idemitsu Kosan's vision. By gathering insights and fostering partnerships with startups and funds, IAH seeks to build a new pillar of business for the Idemitsu Group while addressing global trends and strategic needs. Learn more: https://idemitsuamericas.com/