SAN FRANCISCO, Feb. 15, 2018 /PRNewswire/ -- Sustainable Ocean Alliance (SOA), announced today that it has received a donation of 123.32 Bitcoin (BTC), valued at $1 Million, from the Pineapple Fund. SOA advances the impact of startups, social enterprises and youth-centered initiatives developing solutions to protect the health of the ocean and sustain the ocean economy. SOA represents the largest community of ocean youth leaders (ages 16-35) globally — with members in over 50 countries. This donation comes after the recent launch of SOA's Silicon Valley-based Ocean Solutions Accelerator. The program supports entrepreneurs developing new technologies to tackle the ocean's biggest challenges.
"SOA's accelerator program launches at a time when emerging technologies such as the Internet of Things, Artificial Intelligence, Drones, Blockchain, and Autonomous Vehicles can be applied to create scalable businesses that unlock the potential of the ocean economy," said Nishan Degnarain, Special Advisor on Oceans to the World Economic Forum.
The Pineapple Fund has donated over $46 Million worth of Bitcoin to 51 organizations and has committed to gifting $86 Million to charity in total.
"This generous gift from the Pineapple Fund will allow us to take a radically new approach to tackling some of the most pressing threats facing our environment. SOA's vision is to transform brilliant solutions from young people around the world into revenue-generating companies that can scale and have a positive impact on the health and sustainability of the ocean," said Daniela V. Fernandez, Founder, and CEO of Sustainable Ocean Alliance.
The ocean is under unprecedented pressure — depleted fisheries, plastic pollution, habitat destruction, and a variety of human activities threaten the economic vitality and ecological stability of the ocean. SOA plans to work closely with startups, global brands, and the high-tech sector, to develop innovative solutions that will resolve these complex issues.
Startups receive investment upon acceptance into SOA's 12-week program — starting on June 11th, 2018. Throughout the program, startups will engage with SOA's community of mentors, partners, and investors to achieve their goals. Each entrepreneur will showcase their startup on stage at Demo Day on August 30th. The deadline for startups to apply for the accelerator has been extended to March 23rd.
SOURCE Sustainable Ocean Alliance