Type: Large

SeyCCAT strategic objectiveTrial and nurture business models to secure the sustainable development of the Seychelles Blue Economy

Lead Project Partner: Eco-Sol Consulting Pty Ltd (Seychelles) 

Partners:  Andrew Zimbroff (Assistant Professor) from The University of Nebraska-Lincoln

Summary:   Given the range of economic sectors, industries and stakeholders that make up the blue economy in Seychelles, an important challenge for stakeholders lies in understanding and better managing the entrepreneurship aspect related to economic diversification, shared prosperity and oceanic sustainability.

This proposal entails conducting a detailed study of the entrepreneurial ecosystem in the Seychelles through data collection, interviews and training workshops with key stakeholders such as government, NGOs, private sector organizations and essentially, blue economy entrepreneurs.

The project will be located in the Seychelles islands. With national emphasis placed on unlocking the potential of the blue economy for diversification, conservation and inclusive prosperity, it is imperative the entrepreneurial ecosystem of this economy is understood for improved decision making, innovation and sustainable development. The blue economy stands to disrupt our economic status quo, creating smart, sustainable and shared growth initiatives that should be compatible with Seychelles’ environmental objectives and align with the United Nations’ Sustainable Development Goal to ‘conserve and sustainably use the oceans, seas and marine resources for sustainable development.’ It’s diverse components, including the traditional industries such as fisheries, tourism, and maritime transport, but also emerging activities such as aquaculture, offshore renewable energy, and marine biotechnology makes it crucial for stakeholders to understand how Blue Growth can be created, nurtured, delivered, and added value through the entrepreneurship ecosystem, thus identifying the gaps present in the system and mitigating any perceived risks.

The project will additionally seek to gain a better understanding of entrepreneurs’ attitudes towards business in the Blue Economy that can impact the ecosystem in the long term; how can Blue Growth be created through economic diversification and added value? Where do current challenges lie within the system? What measures would stakeholders need to take into consideration to successfully ensure the long-term sustainability of both business and ocean sustainability?

The methodology being proposed to achieve this is a mix of quantitative and qualitative data collection and analysis methods, including literature reviews, survey instruments for market analyses, in-depth expert interviews and focus groups of key stakeholders in the blue economy. The focal point of the project is a 3-day startup entrepreneurship workshop focused on blue economy entrepreneurs, serving to generate new ‘blue’ business models that tie in economic and environmental returns for eventual trial in future.

The project approach will aim to benefit 40 training participants directly. The project anticipates indirectly benefiting stakeholders in private and public sectors involved in the development of blue economy.

The project is planned for 9 months. It will contribute to the development of the Marine Spatial Planning document for better management of marine/coastal biodiversity and is aligned with the key pillars of the Seychelles Blue Economy Roadmap being economic diversification & resilience, shared prosperity and integrity of habitats and ecosystem series. Furthermore, the educational, research and stakeholder engagement elements within the project complement SeyCCAT’s primary objectives of seeking to understand how Seychelles can diversify the economy, create high value jobs, ensure food security, and sustainably manage and protect the marine environment.

SeyCCAT funds:  SCR 596,838.30

Co-financing:  SCR 112 000

Duration: February 2019 – October 2019

Project Application Form: Project application form