Innovation “Sprint” Helping Promote Biotech Kicks Off

This summer, Bigelow Laboratory kicked off an exciting, three-month exercise to promote blue biotechnology in Maine. It began last month with a kickoff workshop that brought together over two dozen stakeholders — from research, industry, education, business development, and more — to begin identifying how to leverage Maine’s vast marine resources to foster this economic sector for the state. The 90-day “sprint,” in collaboration with Hatch Blue and Ocean House Consulting, will result in a report next month laying out the opportunities, obstacles, and priorities to establish Maine as a global hub for this new industry.

“Our value proposition is that Maine is the place in the nation to do blue biotech,” said Vice President for Research Beth Orcutt. “This 90-day exercise will help us determine the potential for blue biotechnology growth in the state and how to build on all the great work that’s already happening here.”

In January, Maine’s Blue Economy Task Force released a report to the legislature with recommendations for how the state can grow the blue economy. In addition to growing Maine’s heritage blue economy sectors, their report flags marine biotechnology as a prime “growth opportunity,” calling out potential for different sectors, including seafood byproducts for fertilizer, algae-based feed alternative, natural replacement for plastics, and biocompounds for pharmaceuticals. The report also outlines several key advantages that Maine has, making it well positioned to be a global leader in these sectors, from its rich natural assets, robust research institutions, and proximity to Boston’s biotech hub to its expansive coastline and thriving fisheries, aquaculture, and seaweed farming industries.

But the report stresses that there is currently no roadmap for how to leverage those resources to grow this industry. That’s where the new partnership between Bigelow Laboratory and Hatch Blue comes in.

“The Blue Economy Task Force identified blue biotech specifically as a unique opportunity for Maine, but it recognized that we need to know more about the opportunities and threats,” Orcutt said. “This work is the start to addressing those knowledge gaps.”

Orcutt pointed to Bigelow Laboratory’s unique expertise in algae, advanced analytical capacity, and track record of innovative ocean research as strengths that the institute brings to the table. In addition, the lab is home to one of the largest and most diverse marine algae culture collections in the world and is a hub for algae innovation.

For its part, Hatch Blue is a global leader in blue economy innovation, strategy consulting, and ecosystem building. With a six-year track record, they’ve worked with over 100 aquaculture and blue biotech startups, facilitated millions in investment through its accelerator and venture fund, and supported national and regional governments in developing blue economy and aquaculture technology strategies. Their team independently identified Maine as a potential place for blue biotech growth, setting the stage for this current effort.

“We are truly impressed by Maine’s blue economy — from its rich marine resources to its expertise in life sciences and ocean innovation, and, as the global blue biotechnology market is set to nearly double in value by 2032, Maine is uniquely positioned to lead in this wave of growth,” said Tanja Hoel, managing director of Hatch Blue Consulting. “At Hatch Blue, we see this as an opportunity to work with investors and entrepreneurs to help shape the future of sustainable ocean innovation right here in Maine."

The kickoff workshop, facilitated by Hoel, Orcutt, and Blaine Grimes, an independent contractor with years of experience in blue economy development, was an opportunity to start to define what blue biotechnology could mean for the state. It was the crucial first step in the broader ecosystem mapping exercise that the team is undertaking now. Building from the experiences and roadmaps available for other blue economy sectors, the exercise will identify the businesses, industries, resources, and investments available to make this happen.

“We want to use our expertise to support moving some of those recommendations of the task force forward,” Orcutt said. “As an institution, Bigelow Laboratory believes in this so strongly that we’re putting resources forward to gather the information needed and to wave the flag for investors to come to Maine.”

Interested stakeholders can read the executive summary from the kickoff workshop here and provide input on the larger exercise of promoting blue biotech in Maine with this form. Bigelow Laboratory will also co-host a blue economy networking event with the Maine International Trade Center next Tuesday, August 19, providing additional opportunity for businesses and stakeholders to learn more and provide input on this work.

Photos: Participants brainstorm opportunities and challenges for blue biotech in Maine during the kickoff workshop in early July at Bigelow Laboratory.