THE OCEAN ECONOMY
Centre for Ocean Applied Sustainable Technologies (COAST)
COAST is driving leadership and innovation in Pacific Canada’s sustainable ocean economy. As a key initiative of the South Island Prosperity Partnership, COAST’s mission is to strengthen Pacific Canada’s role in the immense and emerging ocean and marine sectors, building inclusive prosperity in British Columbia along the way.
COAST accomplishes this by supporting and amplifying innovative ocean ventures in B.C. on the path toward commercialization through new venture support, access to facilities and equipment, training and workforce development, and ecosystem connection. COAST is also sharing B.C.’s ocean innovations story with the world by co-hosting events such as the Ocean Floor Explore Conference, which focuses on mapping the world’s oceans, and spotlighting 22 local companies at Web Summit Vancouver, a global-scale event welcoming local and international investors, global ports, policymakers, founders, and journalists.
Since 2022, COAST has attracted $3.7 million in revenue and investment and created 526 ocean economy jobs.
SIPP’s ocean economy initiative, COAST, has provided invaluable strategic guidance and encouragement throughout our journey. Their support has helped us stay focused and optimistic. "
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Martin StewartFounder & CEO, Future Marine Inc.
Key initiatives include:
- Ocean Innovation Space Located at 517 Herald Street in Victoria, B.C., the COAST Ocean Innovation Hub is a 7,000-square-foot multifunctional space that is home to startups, scaleups, an accelerator, and workforce training programs. In addition to our downtown location, COAST also added 8,500 sq. ft. of light industrial space on the Saanich Peninsula this year.
- Blue Action Canada In January 2025, COAST launched Blue Action Canada, the country’s first dedicated oceantech accelerator, supporting ventures in ocean data and coastal resilience. The first cohort of 8 companies raised over $2 million in investment and secured more than $1.7 million in sales contracts — strong market traction for made-in-Pacific-Canada solutions. A second cohort launched in January 2026 in partnership with global startup investor Founders Factory and climate investor Blue Action.
- BC Marine Energy & Decarbonization Hub In partnership, COAST and the University of Victoria, backed by RBC Foundation, PacifiCan and the BC Ministry of Energy and Climate Solutions, launched the BC Marine Energy and Decarbonization Hub in 2026. Drawing on UVic’s clean energy research, the Hub provides shared infrastructure and expertise to test, demonstrate and commercialize marine energy innovations. Its first initiative was a COAST Innovation Challenge with the Canadian Coast Guard, supported by InnovateBC, aimed at decarbonizing remote and coastal operations.
- Blue Pathways Through our COAST Blue Pathways Initiative, we link training and micro-credentials directly to in-demand roles. Over two years, 35 companies participated in over $800,000 in Blue Pathways activities, and 334 workers have connected to ocean and marine roles. This year, with support from Canada’s Ocean Supercluster, Blue Pathways launched the Blue AI Readiness Assessment, enabling ocean ventures to work with AI specialists to evaluate AI’s potential for their operations.
COAST was developed and championed by SIPP as a response to businesses and stakeholders who expressed a strong interest in bringing together Western Canada’s marine and ocean ecosystems and assisting companies to compete internationally by using a hub and cluster model that drives collaboration between innovators, industry, government, and academia. In turn, this serves as a catalyst for new job creation and regional economic development, expanding the reach and deepening the impact of Canada’s clean technology industries.
“The biggest benefit that I've seen through COAST is its events and interpersonal communications and getting to know some of the people who otherwise would have just been literally just an advertisement on a magazine page.
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Chris SundstromMarine Mechanical Designer
