Up to $200,000 in funding and one year of incubation support available for Virgin Islands entrepreneurs building solutions that protect and regenerate ocean health British Virgin Islands — Unite BVI has announced the launch of The 2026 Impact Challenge, powered by The VI Purpose Fund, an annual business innovation competition designed to identify, fund, and scale high-impact ventures addressing some of the most urgent challenges facing ocean health and island resilience.
The VI Purpose Fund is a catalytic flagship initiative of Unite BVI, supporting Virgin Islands entrepreneurs building businesses that strengthen the economy while protecting and regenerating the natural environment.
Now entering its second year, the Impact Challenge builds on the momentum of its inaugural 2025 challenge, which supported Virgin Islands ventures, BlockWorks VI and Report the Reef— businesses and initiatives demonstrating tangible environmental and economic impact across the Territory.
Responding to a Critical Moment for Ocean Health
The 2026 Challenge launches at a pivotal time as the recent Planetary Health Check report developed by the Potsdam Institute for Climate Impact Research confirmed that the ocean has crossed key planetary boundaries, placing marine ecosystems beyond their safe operating limits.
For small island territories like the British Virgin Islands, the implications are immediate and profound. The ocean underpins climate regulation, biodiversity, food security, and economic stability—yet is increasingly under threat from warming, acidification, and overuse.
“This global crisis presents a powerful local opportunity. The BVI is uniquely positioned to develop and scale solutions that both restore ocean health and create sustainable economic pathways.” said Lauren Keil, VI Purpose Fund Programme Manager.
Sir Richard Branson, VI Purpose Fund supporter and judge, emphasised the global significance of local action.
“Some of the world’s boldest ideas come from small islands. The VI Purpose Fund is an invitation for entrepreneurs to step up and create real solutions that can have a ripple effect far beyond the BVI”
“This is an opportunity for creative and committed entrepreneurs to receive financial and business support to make a difference in the lives of their family, the community and the planet.” Rick Kearney, VI Purpose Fund co-founder.
“The sea makes up 90% of the Virgin Islands; we are a vast and vibrant ocean state, where every choice we make today ripples into the future. By honoring and protecting these waters now, we secure a thriving, blue legacy for generations yet to come” said Kim Takeuchi, Executive Director of Unite BVI.
Local Solutions with Global Relevance
This year’s Challenge prioritises ventures that integrate ocean protection into commercially viable business models, demonstrate early revenue traction, and deliver measurable environmental and economic impact. Particular emphasis is placed on solutions that create local employment, strengthen supply chains, reduce import dependence, and show strong potential for scale and replication.
Priority areas include reducing pressure on marine ecosystems (e.g. sustainable fisheries and regenerative aquaculture), lowering carbon emissions through local manufacturing, advancing ocean-linked food sovereignty (e.g. aquaponics), ocean and coastal restoration, waste reduction, material substitution and circular economy solutions(e.g. plastic alternatives, reuse models, recycling and upcycling, and solutions reducing ocean-harmful waste), and commercially viable sargassum-to-value models.
Funding, Incubation, and Acceleration Support
Up to $200,000 in catalytic funding will be awarded to one or more standout ventures. Selected businesses will also receive one year of incubation and acceleration support, helping transform strong ideas into investable, scalable enterprises.
The Challenge is specifically seeking ventures that move beyond the concept stage and are capable of generating real revenue, measurable impact, and long-term sustainability.
Application Timeline
Applications opened on April 2, 2026.Key milestones include:
- June 10, 2026 – Deadline for Phase 1 of the Application Process: Submission of Initial Assessments
- July 1 –August 25– Eligible Applicants invited to Phase II of the Application Process: Submission of detailed Applications (Business Plan, Financial Forecast & Impact Projection)
- October 13– 6 Finalists Announced and Offered Coaching & Mentorship in preparation for the Final Phase of the Application Process: Live Pitch on Necker Island.
- Early November 2026 – Live pitch event on Necker Island and winner/s selection
A Call to Action
The 2026 Impact Challenge is a call to action for entrepreneurs across the Virgin Islands:
To lead.
To restore.
To prove that local innovation can solve global ocean challenges.
Entrepreneurs and business owners developing solutions to ocean challenges—including sargassum management, sustainable fisheries, marine restoration, low-carbon solutions, and reducing reliance on imports—are encouraged to apply.
If your business is helping to protect marine ecosystems or build sustainable, locally rooted solutions, the 2026 Impact Challenge offers an opportunity to scale.
Eligibility Requirements
Applicants must be 18 years or older and hold a valid trade licence by August 25, 2026.
Businesses related to fisheries must also obtain the appropriate licence under the Fisheries Act.
Depending on the nature of the activity, additional permissions from the Ministry of Environment, Natural Resources and Climate Change may be required.
Applicants must address an ocean health issue with a business-based solution that is solvable, measurable, scalable and innovative. Non-profits are welcomed to apply with a valid NPO certificate and to reinvest 100% of profits in a social enterprise model.
About the VI Purpose Fund
The VI Purpose Fund is a flagship initiative of the Unite BVI Foundation (supported by Unite BVI), dedicated to supporting entrepreneurs and enterprises that drive sustainable economic growth while protecting and regenerating the natural environment.
For more information and to apply, visit https://www.vipurposefund.org/