Braid Theory – an AltaSea Anchor Tenant – Part of NOAA’s Fast-Track Innovations Grant on Coastal Resilience and the Growing Blue Economy
Summary
LOS ANGELES, December 13, 2024--(BUSINESS WIRE)--The Department of Commerce and the National Oceanic and Atmospheric Administration (NOAA) announced today that it is recommending The Continuum, which includes AltaSea anchor tenant Braid Theory, will receive $13.9 million to help bring to market solutions that will grow the blue economy, while strengthening coastal resilience.Funded by the Inflation Reduction Act, these investments will help small businesses scale quickly to "spur the development of technologies and services that address a wide range of maritime issues." "We are thrilled to join forces with The Continuum team members to accelerate and grow businesses that are commercializing sustainable blue economy solutions," said Braid Theory Co-founder and CEO Ann Carpenter. "This funding is part of NOAAs Ocean Enterprise Initiative, a grant opportunity created to develop and implement accelerator programs that support startups, small businesses, and entrepreneurs that are working to commercialize ocean-based technologies, products, and services that address our ocean resilience needs.In announcing the grants, U.S. Secretary of Commerce Gina Raimondo said: "American small businesses and startups are essential for creating and launching new technologies. This program, made possible by the Biden-Harris Administrations historic Inflation Reduction Act, will connect them to the funding, business support and training they need to grow and make a meaningful impact on our resiliency." The firm incorporates a hybrid model of services to assist startups and scaleups based on proven methodology and rigor in evidence-based entrepreneurship focused on technology commercialization.