Photo: Ocean Networks Canada
Sector Overview
The Greater Victoria region is not just a famous tourism hotspot but also a burgeoning hub of innovation for the blue economy and ocean technology. Driven by many unique and world-class assets (described in this sector overview), this diverse sector is emerging as a pivotal force in the economic landscape of Canada’s Pacific Region and westernmost province of British Columbia–all part of the burgeoning global Blue Economy that is growing to $3 trillion by 2030 (OECD).
Greater Victoria is situated on the southern tip of Vancouver Island on Canada’s Pacific Coast. We are surrounded on three sides by the Salish Sea, a vast geographically and ecologically diverse marine environment where technology can be comprehensively tested for global application. Additionally, our region is located along western North America’s blue innovation corridor, which runs from Alaska to California, and near the larger markets of Vancouver and Seattle.
A Vibrant, Growing Sector
Photo: Victoria Shipyards
Greater Victoria’s blue economy spans ocean technologies and data, ocean energy and decarbonization, sustainable aquaculture (e.g. kelp harvesting), shipbuilding and maintenance, defence and security, and more.
Our knowledge-based and innovation-focused region features three leading post-secondary institutions and a coastal business ecosystem that is already home to more than 2,200 ocean and marine companies. Of those, over half of the small and medium-sized businesses (SMEs) in emerging “ocean technologies” are located on Vancouver Island, according to the Association of BC Marine Industries (ABCMI), which works to strengthen B.C.’s industrial marine sector and its supply chain.
Notable Companies & Successes
Whether it be SMES or large companies like Seaspan, which operates Victoria Shipyards (featuring the largest drydock on the west coast of the Americas), Greater Victoria features many leading examples of business and innovation excellence, including Open Ocean Robotics whose cofounder Julie Angus is one of Victoria’s Rising’s People on the Rise.
Video: Julie Angus, Open Ocean Robotics
Other notable blue economy companies based in Greater Victoria include:
Photo: Ocean Floor Geophysics
Collaborative Support Ecosystem
Greater Victoria features a robust and collaborative ecosystem that supports startups, entrepreneurs, and scientific research across the Blue Economy. The Centre for Ocean Applied Sustainable Technologies (COAST), Pacific Canada’s hub for the sustainable blue economy, is located in Victoria but works across the province to grow its network, programs, and facilities. As an initiative of South Island Prosperity Partnership, COAST represents a collaborative call to action from our region’s ocean and marine sector to build B.C. into a global leader in the world’s rapidly growing ocean economy, creating new, sustainable, export-driven jobs and enterprises.
Photo: COAST Ocean Innovation Hub
COAST Initiatives include:
- Blue Action Canada’s Accelerator program announced its first pilot cohort in fall 2024. The program, delivered in partnership with Founders Factory and Blue Action Accelerator, will work with a cohort of local oceantech companies to help catalyze their growth and investment readiness.
- The COAST Ocean Innovation Hub is a 7,000 sq. ft. office building on Herald Street, near Victoria’s Inner Harbour. The COAST hub features private offices, event and collaboration spaces, meeting rooms with advanced technology, a podcast studio, and other people-friendly amenities that nurture teams and cross-disciplinary interactions.
- COAST’s Blue Pathways Initiative is a platform for curated learning opportunities and financial support designed to assist the workforce and SMEs to accelerate into blue economy opportunities.
- COAST’s newest initiative, the BC Marine Energy & Decarbonization Hub, was announced in April 2025. Delivered in partnership with the University of Victoria, this initiative is the result of decades of expertise developed through UVic’s Integrated Energy Institute (IESVic), Pacific Regional Institute for Marine Energy Discovery (PRIMED) and the more recent Accelerating Community Energy Transformation (ACET) initiative. The hub will move these initiatives closer to commercialization through testing and demonstration sites.
- Events and B2B connections: COAST is growing a network of ocean leaders across Pacific Canada. If you’re interested in getting involved, reach out or join the network!
Photo: Sea Forest
Leading the Way
Greater Victoria’s success as an ocean leader in Pacific Canada and the world will be accelerated by a robust ecosystem. The organizations below are leading the charge and putting us on the map:
- The Association of British Columbia Marine Industries (ABCMI) emerged from the shipbuilding and repair sectors over the past decade and has grown to include all aspects of the marine industry. As a leading force for the ocean economy in Western Canada, ABCMI was a driving force behind the creation of COAST to nurture early-stage technologies and applied innovation. ABCMI remains a frequent collaborator in the ecosystem, supporting SMES and large marine companies through programs and events such as the Business and Opportunities Conference & Trade Show and the ABCMI & COAST Innovation Forum.
Photo: Accelerating Community Energy Transformation (ACET) University of Victoria
- The University of Victoria (UVic) is a globally impactful centre of pioneering training research in marine sciences, playing a crucial role in nurturing the next generation of oceanographers, environmental scientists, and marine biologists.
- UVic’s Ocean Networks Canada is the world’s largest underwater laboratory and ocean data network, deploying cutting-edge technologies to monitor the marine environment and provide critical data for research and commercial use.
- UVic also champions and leads the Accelerating Community Energy Transformation (ACET) Initiative, collaborating with communities that seek to accelerate their energy transformation by co-creating equitable and resilient clean energy solutions. These solutions create new economic opportunities and strengthen local autonomy. It involves a range of research and applied innovation projects, including those in ocean energy.
- UVic’s Pacific Regional Institute for Marine Energy Discovery (PRIMED) has recently secured funding for its innovative project to integrate a wave energy device into a renewable energy microgrid on Nootka Island.
- The Institute for Integrated Energy Systems (IESVic) at UVic was formed in 1989 by researchers in energy technology and systems analysis to develop high-quality, affordable, and environmentally compatible energy systems. IESVic became an interdisciplinary research centre in 1994 with a targeted research program on hydrogen and fuel cell technologies, as well as the technoeconomics of energy systems and transportation. Today, the Institute’s work involves strategic clean technologies, electrification and system integration, the built environment, energy-economy policy modelling, and integrated planning for water-energy-land systems.
- UVic’s School of Earth and Ocean Sciences offers world-class education and research in processes that shape the planet, global climate change, earthquake hazards, groundwater contamination, marine pollution and more.
- The Pacific Institute for Climate Solutions (PICS), hosted and led by UVic and other B.C. universities, responds to the evolving complexities of climate change adaptation and mitigation needs by connecting experts in partnerships that pursue cutting-edge research and implement solutions.
- The UVic Innovation Centre is the central hub for programs, facilities and pitch events designed to support students, staff and alumni with commercial venture ideas.
- Camosun College’s Coastal Centre is a hub for marine industry training located adjacent to the Victoria Shipyards in Esquimalt. It features 4,000 sq. ft. of learning space and a computer lab. Camosun also works with companies on applied research and prototyping through Camosun Innovates and the Camosun Technology Access Centre.
- Royal Roads University (RRU) is not focused on ocean and marine programs; however, it is one of the most popular training options for advanced career professionals across a range of disciplines, from master’s to doctoral levels. You’ll find many RRU graduates working in the blue economy in disciplines such as environmental science and executive leadership.
- VIATEC, Greater Victoria’s leading technology association, brings entrepreneurs and the broader tech community together through programs, events and its very popular annual awards program. VIATEC supports many SMES across the blue economy, from early-stage startups through its Venture Acceleration Program, to growth-oriented companies through its new BOOST program.
- Alacrity Canada is a non-profit organization focused on helping startups with seed capital and programming, through initiatives like the Digital Bootcamp, Startup Visa Program, and APEX program, all designed to scale tech startups. Alacrity also has a network of offices in several global centres that their team based in Victoria can plug their clients into.
- Canadian Forces Base Esquimalt (CFB Esquimalt), Canada’s Pacific Coast naval base, encompasses 12,000 acres, 1,500 buildings, and employs 7,000 military and civilian personnel. The defence sector remains an important part of the blue economy ecosystem, supporting SMES through procurement (the IDEAS program remains the best access point for SMEs) and the ITB program, which works with large contractors interested in making strategic investments in Canada.
- BC Ferries, one of the largest ferry operators in the world, moves more than 60,000 customers and 23,000 vehicles throughout coastal British Columbia every day. They support the local ecosystem in several ways, including procurement, workforce development and partnering with communities they serve.
- The Institute for Ocean Sciences, operated by the Government of Canada, is a key link in Fisheries and Oceans Canada’s nationwide network of major scientific facilities. More than 250 scientists and researchers provide up-to-date information and data on all elements of oceanography, from ocean research to environmental science. Many local startups have been spun out by ocean technologists who got their start in this area.
- Esquimalt Graving Dock: You’ll find the largest non-military hard-bottom dry dock on the west coast of the Americas at the Esquimalt Graving Dock. Many leading companies use the dry dock for various ship maintenance projects.
- Victoria & Esquimalt Harbours. These complex working harbours comprise Canada’s Pacific Naval Base and feature one of the world’s busiest water airstrips and many marine-related businesses, including Point Hope Shipyard and Victoria International Marina, Pacific Canada’s only luxury yacht marina.
Photo: Ogden Point, The Breakwater District
- With four deep-water berths, the Breakwater District at Ogden Point remains Canada’s busiest port of call for cruise ships. In 2025, this Port, operated by the Greater Victoria Harbour Authority, will serve over one million passengers and crew.
- Ocean Ecology: There are several nonprofits and initiatives in Greater Victoria focused on ocean ecology and sustainability, including the Hakai Institute, Surfrider Foundation, and Future Oceans International, among others.
Opportunities in Greater Victoria
The prospects for Greater Victoria’s blue economy and ocean technology sector are promising. With the world increasingly focusing on sustainable ocean resource management, the region is well-positioned to become a leader in this field. Realizing this potential hinges on continued investments in innovation, sustainability, and infrastructure.
A 2024 study by COAST revealed that SMEs and startups across the region’s blue economy ecosystem were primarily engaged in conservation and protection (43%), marine bio-resources (40%), ocean energy (33%), marine infrastructure (26%), security and defense (21%) with other top sectors including carbon reduction, tourism and recreation, desalination and waste management.
Connect with us to explore further: office@southislandprosperity.ca
