DATE: January 19, 2021
SUBJECT:
Title
PRESENTATION AND UPDATE ON THE DISTRICT'S BLUE ECONOMY INCUBATOR INCLUDING THE SECOND EDITION OF THE BLUE ECONOMY INCUBATOR HIGHLIGHTS REPORT
Body
EXECUTIVE SUMMARY:
This presentation will give an update on the District's Blue Economy Incubator (BEI), specifically on recently approved and deployed projects and introduce the second edition of the BEI Highlights Report.
In 2016, the District established its BEI Program to assist in the creation, development, and scaling of new blue economy business ventures in and around San Diego Bay. Through its BEI, the District is seeking innovative aquaculture and blue technology proposals to address District environmental challenges and inform future blue economy opportunities. The BEI is acting as a launch pad for sustainable aquaculture and District-related blue technology ventures by removing barriers to entrepreneurs and providing key assets and support services focused on pilot project facilitation. BEI proposals are reviewed following a four-step cross-departmental due diligence process culminating in a staff recommendation to the Board of Port Commissioners (Board). The review and selection process balance each proposal's potential social and environmental benefit, alignment with the District's core mission and Public Trust obligation, as well as potential financial return on investment.
The vision for the BEI is to build a Blue Economy Portfolio (Portfolio) of new businesses and partnerships that deliver multiple social, environmental, and economic co-benefits to the District and the region. To date, the District has committed $1.6 million and approved the launch of nine (9) pilot projects including shellfish nursery operations, a drive-in Boatwash, a smart marina application, a marine debris removal vessel, seaweed aquaculture, bio-enhancing shoreline armoring alternative, a new approach to soil remediation in marine environments, and a real-time field-testing sensor dev...
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