Ready to swim: Backed by a boatload of assets, the North Carolina aquaculture and marine-biotechnology industries are grabbing global attention.

• Position: CASH CROP

Michelle Sabaoun studied at UNC Wilmington's marine biotechnology graduate program 15 years ago. "It was Wilmington or California." Today she is lead biotech instructor at Brunswick Community College's Center for Aquaculture and Biotechnology. The center opened in 2007 and each graduating class averages about 20 students. She hopes by fall to add a marine-biotech program, which would incorporate aspects of biotechnology and aquaculture. That combination isn't new to her. A few years ago, she led a group of students who developed a mechanical process that squeezes oil from algae. It could produce biofuel on a large scale, but a lack of funding stalled the small program. North Carolina has many attributes that can expand its aquaculture and marine-biotechnology industries, but funding is a hurdle. "We have to compete with the big [companies]."

North Carolina will have the opportunity to attract money in 2015, when the BioMarine International Business Convention comes to Wilmington. About 300 industry CEOs representing more than 30 countries are expected to discuss innovation, investment and collaboration for aquaculture, biofuels and other commodities harvested from the oceans. But they'll do more than talk. At the 2012 convention in London, 152 CEOs completed more than $23.5 million worth of deals. Convention organizers were set to tour possible U.S. host cities, including Boston, New York, Atlanta and Washington, D.C., last year. Deborah Mosca, CEO of Wilmington-based nonprofit Marine Bio-Technologies Center of Innovation, and Randall Johnson, executive director of Research Triangle Park-based North Carolina Biotechnology Center's southeastern office, convinced them to stop in North Carolina, where they visited businesses, universities and economic-development organizations.

The center of innovation was started to connect marine-related biotech research and discoveries with products and services that could benefit the state. "I think the timing is right for the [center of innovation] with the convention coming to North Carolina and the focus on emerging technology: Mosca says. The state has nurtured generations of fishermen. Add to that its research universities and dedication to biotechnology, and it's set up to become a player in the industries.

Royston Carter, senior director of marine-biotech...