The Missing Middle – Bridging Capital Gaps in Ocean Innovation – Insights from Hong Kong's Ocean Innovators Platform

On 22 October, set against the iconic backdrop of Victoria Harbour, over 100 leaders, investors, and innovators convened at the Royal Hong Kong Yacht Club for the 9th edition of the Ocean Innovators Platform (OIP). Co-hosted by the Prince Albert II of Monaco Foundation and Sustainable Finance Initiative (SFi), the event was a hive of energy and ideas, focused on accelerating the transition to a regenerative blue economy. The discussions made one thing clear: the tide is turning for ocean investment in Asia Pacific, and within this, Hong Kong is well positioned to lead the charge.

Opening the event, Katy Yung, CEO of SFi, set the tone: “It is an honour to welcome you to the ninth edition of the Ocean Innovators Platform, right here on the doorstep of Victoria Harbour – the heartbeat of Hong Kong and the crossroads of our region’s blue economy... Together, our shared purpose is clear: to strengthen our global collaboration and catalyse investment where the ocean needs it the most”.

The day captured a visible sense of urgency and optimism, weaving together Hong Kong’s role as a global connector with a collective call to action. Here are the key insights from the event that are charting the course for the future of ocean innovation.

The Pulse of the Room – A Clear Mandate for Action

A live poll of the attendees revealed a powerful consensus. The audience included a diverse mix of family offices, venture capitalists, not-for-profits, and entrepreneurs, ranging from those at the infancy of their journey, to active explorers, industry veterans, and individuals who are already investing in the blue economy. When asked “Which blue economy area is your focus?”, nearly equal numbers of attendees prioritised restoration/conservation, sustainable fisheries/aquaculture, and plastic waste solutions – confirming that capital interest spans both biodiversity regeneration and scalable business innovation.

Words capturing the audience's sentiment on impact investing included "Opportunity," "Momentum," and “Action”, reflecting a shared belief that the blue economy is one of the most significant growth imperatives of our time.

To understand how best to channel this engagement into sustainable growth, experts and practitioners delved into ecosystem opportunities and investment roadblocks.

Investing in the Blue Economy – Opportunities and Challenges

In a panel moderated by Christine Yu, Head of Innovation at SFi, leaders from asset management, venture capital, and shipping examined both the USD5.5 trillion global economic opportunity and the barriers holding back progress.

One expert noted how ocean plastic solutions have evolved from philanthropic efforts to a systemic investment landscape, with capital now flowing across the full value chain – from algae-based alternatives to industrial-scale recycling. Another speaker highlighted the growing financial viability of maritime decarbonisation, citing EUR220 million raised for a  wind-assisted propulsion technology which saves up to 1.6 tons of fuel per vessel daily, creating positive environmental and financial outcomes. These developments signal a shift from experimentation to scalable, investable solutions.

The "Missing Middle" Remains the Critical Bottleneck

Yet, despite capital interest, a persistent funding gap remains between early grants and commercial growth capital. Olivier Wenden, Vice-Chairman and CEO of the Prince Albert II of Monaco Foundation, emphasised that "innovation usually fails or dies in this missing middle  between grants and growth capital," noting that their ReOcean Fund specifically targets Series B companies who are at this stage of growth.

This challenge manifests differently across sectors. Wellington Koo, Executive Director and a fourth-generation ship owner of Valles Steamship, highlighted infrastructure gaps in the maritime industry: "With all these green or blue transitions, it requires a lot of investment. A lot of the infrastructure is not yet in place. The alternative fuel availability is a big question mark at the moment".

Three Pillars for Scaling Ocean Impact

Addressing this bottleneck requires more than capital – it demands strategic frameworks that can guide investment towards tangible outcomes. The fireside chat featuring Olivier Wenden and Dr. Lizzie McLeod, Global Ocean Director, The Nature Conservancy, distilled these complex challenges into three actionable pillars:

1. Metrics matter – "We cannot protect what we don't value, and we cannot value what we don't measure," Wenden stated.

2. Blended capital works – philanthropy can de-risk early ventures to attract private investment.

3. Regional ecosystems scale solutions – by engaging local stakeholders, investable solutions gain both credibility and legitimacy.

Dr. McLeod reinforced this with recent findings that marine protected areas can lead to a huge increase of fish biomass and dramatic improvements in local food security within just a few years. For instance, the coral reefs of Palau in the Western Pacific Ocean rebounded spectacularly after devastating bleaching events, thanks to community-led conservation efforts and science-informed management. She also dispelled a persistent myth that "We don't have to choose between protecting the ocean and creating jobs, income, and livelihoods. They go hand in hand".

Whilst blueprint strategies emerge, the journey from investment to impact not only requires capital, but also the tools and partnerships to convert ideas into measurable results.

Hong Kong’s Competitive Advantages

Throughout the event, discussions returned to a central theme: Hong Kong’s competitive advantages for catalysing a regional blue economy revolution. The city’s unparalleled status as a global finance centre, coupled with its deep maritime heritage and innovation ecosystem, offers a powerful blend of resources for accelerating ocean solutions.

The signing of a Memorandum of Understanding between the Hong Kong Academy for Wealth Legacy (HKAWL) and the Prince Albert II of Monaco Foundation during the event, also exemplifies Hong Kong’s role in cross-border capital convergence. The city is fast becoming a hub for family offices, foundations, and venture funds piloting solutions – like plastics supply chain innovations, wind propulsion retrofits, and electrification on workboats – across Asia Pacific. With the majority of global ocean economic growth driven by this market – alongside maritime reforms, capital innovations, and new biodiversity targets converging – Hong Kong is well established to lead by integrating marine sustainability into its core economic and investment frameworks.

As Wenden concluded, “Hong Kong is uniquely positioned to bridge financial innovation, science, and policy – turning ocean regeneration into a mainstream asset class. The rising wave of blue finance is tangible here, and with collective leadership, practical tools, and cross-sector partnerships, we can not only make ocean stewardship an aspiration, but a source of durable economic growth.”