INVESTING IN THE CARIBBEAN BLUE ECONOMY OPPORTUNITIES AND

INVESTING IN THE CARIBBEAN BLUE ECONOMY OPPORTUNITIES AND ACCELERATING ENTREPRENEURSHIP Technical Assessment Dr Jack Dyer Blue/Maritime Economist and founder https//www. blueeconomyfuture. org. za; Jack. Dyer@utas. edu. au; jad@blueeconomyfuture. org. za

OVERVIEW • The Caribbean Blue Economy • Promoting Entrepreneurship • Blue Economy Opportunities • Facilitating Blue Economy Entrepreneurship • Stakeholder Targets To Recruit • Expected Platforms, Tools and Methodology • Interfacing Potential Centre of Entrepreneurship or Accelerator Lab, Caribbean Blue Economy and Action Plan • Harnessing The 4 th Industrial Revolution • Action Plan of Expected Activities and Timelines • Examples of Innovative Technology • Priorities and Actions • Contact Details

THE CARIBBEAN BLUE ECONOMY • • • 2, 750, 0000 km 2 of EEZ and ocean 43, 000 consumers among 19 countries World Bank 2017 Estimated > $407. 6 billion total value 2018 Tourism Contributed $56. 4 billion >180, 000 employed in Fisheries/Aquaculture >$350, 000 in Fisheries Potential Revenue Marine Renewable Energy Targets Need for Inter-Island Ferry Services; Marine Insurance and Blue Economy Finance Expansion of Panama Canal/Construction of Nicaragua Canal 1% of transhipments/trade pass through Caribbean excluding Canal Jamaica Post-Panamax Ship Repair Dock Grenada Blue Network –for Innovation; Barbados Ministry of Ocean Economy

CARIBBEAN BLUE ECONOMY OPPORTUNITIES • • • Branson Carbon War Room Caribbean Challenge Initiative UNDP Blue Accelerator Lab Commonwealth Blue Charter and Marine Economies Programme Grenada Coastal Blue Growth Master Plan New Jamaica/Caribbean Fisheries Framework Clean Ocean Alliance Cruise and On-Shore Tourism Capture Recreational/Yacht Suppliers Marine Biotechnology; Blue Carbon Sustainable Blue Economy Finance Principles

BLUE ECONOMY STAKEHOLDER TARGETS TO RECRUIT • • • ACP Secretariat Caribbean Tourism Organisation Chambers of Commerce/Youth Networks Cruise Jamaica Economic Commission for Latin America and the Caribbean Past Entrepreneurs Public Various government ministries across the Caribbean Various marine associations and authorities; Caribbean Shipping Association • • • Accelerate Caribbean Climate Innovation Centre Caribbean Development Bank Caribbean Environmental Entrepreneurs Network; Jamaica Environmental Entrepreneur Advocacy Network Caribbean Mobile Innovation Project Caribbean Policy Development Centre Crowdfunding and other platforms Entrepreneurship Program For Innovation in the Caribbean Jamaica Angels Network Women in Maritime Association Caribbean/Women Innovators Network in Caribbean

BLUE ECONOMY STAKEHOLDER TARGETS TO RECRUIT • Across all 19 Caribbean countries • Regional NGOs, professional associations; port authorities • CARICOM • UNDP Blue Accelerator Lab • University of West Indies, French West Indies, Caribbean Maritime University, schools and training

INTERFACING THE CENTRE OF ENTREPRENEURSHIP/ ACCELERATOR LAB, CARIBBEAN BLUE ECONOMY AND ACTION PLAN • Invite and Connect Existing Select Entrepreneurs to Benefit from Blue Economy Additional Content Preparation, Training and Blue Economy Opportunities; Economies of Scale and Abroad Leveraging • Consider Recruiting New Partners – Emphasis on Sustainability; Futureproof; Climate-resilient; Blue Economy and 4 th Industrial Revolution • Conduct consumer market research and support via social media • Develop Database of Core Stakeholders/Information Links • Connect to Other Caribbean Entrepreneur Programmes – Accelerate • Connect to Other Caribbean Locations not just mainly Jamaica • Develop Entrepreneurs to target abroad Markets Abroad – Commonwealth and other Branson/Virgin Centres, Products

ACTION PLAN OF EXPECTED ACTIVITIES AND TIMELINES • Stage I: Identification of Core Stakeholders and Initial Recruitment Application, Registration onto Database/website etc. Month I • Stage II: Initial Training: Evaluation of Recruited Entrepreneurs and their Requirements – Needs Analysis, Introduction to Caribbean Blue Economy, Risks and Opportunities; Ecological Sustainability; Climate Change and Risk Management; Employability Skills; Business Plan and Core Operation Skills; HR; Logistics; Training in IP Patent, Financial Literacy –Strategic Finance; Accounting/IT. Month II • Stage III: Continued Training in above skills/Customer Service, Marketing/Social Media/Communication/ Presentation /Leadership and Team Building. Month III

ACTION PLAN OF EXPECTED ACTIVITIES AND TIMELINES • Stage IV: Networking and Connecting Stakeholders, Coaching and Mentorship Advice Month IV • Stage V: Incubation and Acceleration/ Expansion –Scaling Up Operations –Strategic Finance and Business Valuation Month V: • Stage VI: Final Business Plan Preparation, Pitch Decks and Demo Day/Recruiting Financiers, Completion and Implementation Month VI: • Stage VII: Monitoring and Evaluation/Review of Entrepreneurs: Years 1, 2, 3 • Repeat Stages I-VII for New Recruitment Cycle of Entrepreneurs

PROMOTING ENTREPRENEURSHIP SPECIALISED BUSINESS FACILITIES WHICH OVERCOME EMERGING BUSINESS CONSTRAINTS • Professional business registration address and mail forwarding service; website links • Access to fully furnished workspace units • High speed Wi-Fi network access; printing • Kitchen facilities and access to catering services • Free parking; Reception area during office hours and related services • Waste collection included • Access information services, including the University library • Just one monthly bill exists. This is inclusive of utilities (excluding telephone). SKILLS FOR ENTREPRENEURS TO CULTIVATE INCLUDE • Proactive Risk Management and Preparation • Ecological Sustainability and CSR • Budgeting and Fiscal Literacy • Allowing Reserves against Contingencies and Expansion • Basic Accountancy/Tax and IT • Coping with Success and Failure/Motivation • Networking • Time Management • Flexibility/Adjust plans rapidly • Focus/Mindfulness/Efficiency/Speed • Meditation –Techniques to manage customers, stress, pressure, fatigue, ennui.

PROMOTING BLUE ECONOMY ENTREPRENEURS • Awareness of Opportunities/Risks • Connections with Stakeholders – Gaining Access and Making an Impression • The Personal Touch – Selling Their Story and Themselves ASK: • Why Do They Wish to Participate? • What Vision Do They Have For Their Business; the Caribbean; Their Idea? • What Do They Expect From the Entrepeneur Centre or Accelerator Lab; Their Mentors; Funders? • What Have They Learnt? • Reputation – Create an Experience Barometer – Constantly seek feedback for constructive program suggestions • Field visits for inspiration • Link to existing secondary/college education etc. as source of information.

EXPECTED PLATFORMS, TOOLS AND METHODOLOGY ØOpen Days ØIdentifying and Active Listening/Evaluation of Needs ØPublic Speaking ØNetworking – Forming mutual entrepreneurial support/marketing of activities ØPeer to Peer Learning – Sharing Experiences/Successes/Failures ØMentorship ØConsumer surveys/feedback – trial periods of products – visible exposure ØEncouraging Stakeholders to Sign up ØSocial Platforms –website –Branson Centre /Blue Economy Future organisation; Facebook, Twitter, Instagram; You. Tube videos; Linked In ØPodcasts recording all presentations and pitches for evaluation, reflection and learning ØPossible local and international webinars/Skype ØRadio, TV, newspaper interviews

HARNESSING THE FOURTH INDUSTRIAL REVOLUTION

EXAMPLES OF INNOVATIVE TECHNOLOGY FROM PIONEERING A BLUE ECONOMY STUDENT ENTREPRENEUR INNOVATION HUB SOUTH AFRICA

PRIORITIES AND ACTIONS • Recruitment Drives – Awards; Prizes, Competitions and Quizzes • Open Days/Tours • Innovation Hubs and Facilities • Centralised blue economy website • Summarised accounts of blue economy activities and opportunities • Establish Blue Economy and Entrepreneur Training and Curriculum • Research and Discovery of Entrepreneurs • Developing of IP, Innovation; Acceleration, Incubation/Commercialisation and Expansion Skills Development • Mentoring • Enterprise Skills Award –online quizzes/assignments to test potential applicants on whether they have what it takes to form a business. • Preparing Pitch Decks and Demo Day • Creating social media channels –Facebook, Instagram; Twitter, What’s-App; Linked In, You. Tube, podcasts of presentations as a Caribbean Blue Economy Entrepreneur Bazaar • An integrated contact and network directory of core stakeholders. Links on existing networks, professional associations, universities and funders. Connections to other areas from aquaculture and fisheries, shipping; ports, ship repair; to cruise tourism, marine manufacturing/industry, ocean governance, climate change, engineering and education. • Social media/physical occasions to discuss/publicise achievements as follow up sessions with selected entrepreneurs. • Public debates over issues relating to Branson Centre, entrepreneurship and Blue Economy – Exposure and Awareness

Any questions ? ? ? Feel free to contact me on Jack. Dyer@utas. edu. au; jad@blueeconomyfuture. org. za; Linked In Jack Dyer, Blue Economy Future, https//www. blueeconomyfuture. org. za;