Regions across the globe are increasingly concerned about best practices for water usage as agricultural and industrial demand for this critical natural resource strains local supplies. Cooling the hundreds of data centers coming online is just one driver of the spike in demand for water.
The Great Lakes region’s abundant water supply makes it an ideal laboratory for new and existing companies in water technology, aquaculture, marine energy and other fields doing work today that will benefit locations claiming their place in the Blue Economy tomorrow. Resources for these companies, especially startups, also is in abundant supply.
In December 2024, gener8tor, a global venture firm and accelerator network, was one of four organizations awarded a total of $54.3 million from the Department of Commerce and NOAA to support small businesses and entrepreneurs working on coastal resilience and other marine initiatives. Specifically, gener8tor was granted $13.4 million to launch the Great Lakes Innovation Accelerator that will invest in 60 startups over four years, providing each with $100,000 in non-dilutive funding, according to a gener8tor statement. The startups will receive intensive mentorship, access to specialized testing facilities and connections to major industry partners throughout the region.
Accelerating Economic Growth|
“The Great Lakes represent both an economic engine and an irreplaceable environmental resource for our nation,” said Ryan Jeffery, senior managing director of sustainability at gener8tor. “The Great Lakes region alone generates over $3 trillion in GDP and employs over 25 million people. By investing in innovative startups developing critical new water technologies through this accelerator, we can boost GDP, create new jobs, and protect this essential freshwater system that sustains our industries, communities and ecosystems.”
Also in 2024, the Chicago-based water innovation hub Current was awarded up to $160 million over 10 years from the U.S. National Science Foundation to develop and grow a water-focused innovation engine in the Great Lakes region. According to Current, the funding will enable Great Lakes ReNEW, a six-state collaboration coordinated by Current in partnership with Argonne National Laboratory and the University of Chicago, to fulfill NSF’s mission of spurring economic growth in regions that have not fully participated in the technology boom of the past few decades. (For more, see p. 25 of this guide.)
“Waste has no place in this world of increasing water and resource scarcity,” said Alaina Harkness, executive director of Current and principal investigator for Great Lakes ReNEW. “Our engine will find new ways to recover and reuse water, energy, nutrients, and critical materials from our water. These innovations will create economic opportunities for residents of our region; help strengthen our domestic supply chain for clean energy technologies; and address water quality and security issues around the world.”
Where Startups Are Fast-Tracked
Accelerators in the Great Lakes region support much more than water-focused innovation. Entrepreneurs working in clean energy, agriculture, finance, technology, manufacturing and other industries all will find no shortage of resources for facilitating their business plans. Following are several examples of accelerators in the Great Lakes region with track records of putting startups on the fast track.
- 1871 Innovation Hub, Chicago
1871.com
Focus: Innovation hub for supporting early-stage, growth-stage, late-stage and corporate innovators.
Offerings: Innovation Lab Communities for 11 industries, including supply chain, AI, FinTech, Climate Tech and others
Assets: 1871 operates remotely.
- DMZ at Toronto Metropolitan University
dmz.torontomu.ca
Focus: Tech incubator and startup ecosystem
Offerings: Advisory services, investor access, networking, pre-incubator launch and sell program, incubator scale and fundraise program, specialized startup programs.
Assets: Co-working space, a global network of hubs spanning more than a dozen countries.
- Innovation Factory, Hamilton and Halton, Ontario
innovationfactory.ca
Focus: Technology innovation
Offerings: Business advisory services, workshops, training programs and mentorship.
Assets: Programs and services are primarily online and in person.
