Tuesday, October 24, 2017

Blue Economy Incubator for Port of Los Angeles

By Karen Robes Meeks

Real estate developer Morton La Kretz has inked an agreement with AltaSea at the Port of Los Angeles to fund the La Kretz Blue Economy Incubator, which will focus on technology firms developing sustainable business models connected with the ocean.

“Creating a healthier, sustainable planet is the key focus of my philanthropic work,” said La Kretz, who also invested in the LA Cleantech Incubator’s downtown LA headquarters. “My first projects have been primarily about the land. With the La Kretz Blue Economy Incubator at AltaSea, I can extend that reach to the oceans. The newest addition to AltaSea will attract the world-class leaders and promising companies that can leverage the opportunities our ocean presents for research, exploration and innovation.”

Businesses within the incubator will be able to use AltaSea’s 4,100 linear feet of pier access to deep water and interact with other incubator firms, AltaSea tenants and partner organizations, including the Southern California Marine Institute, which represents 23 Southern California oceanographic labs, aquaria and research universities.

“The Blue Economy Incubator is a crucial part of our broader vision to turn aging wharfs in the Port of Los Angeles into a vibrant, cutting-edge center for ocean-based science research, STEM education and sustainable business creation,” said AltaSea Executive Director Jenny Krusoe. “Morton La Kretz’s support is a vital endorsement of that vision. He knows how important it is to invest in our future, creating the research and education structure that can help make our Los Angeles and indeed our entire planet healthier and more sustainable.”