INVESTING IN THE CARIBBEAN BLUE ECONOMY OPPORTUNITIES AND ACCELERATING ENTREPRENEURSHIP

1. 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

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

3. THE CARIBBEAN BLUE ECONOMY • 2,750,0000 km2of EEZ and ocean • 43,000,000 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 • >$350,000,000 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

4. 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

5. 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 • 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

6. 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

7. 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 4th 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

8. 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

9. 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

10. 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.

11. 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.

12. EXPECTED PLATFORMS, TOOLS AND METHODOLOGY • Open Days • Identifying and Active Listening/Evaluation of Needs • Public Speaking • Networking – Forming mutual entrepreneurial support/marketing of activities • Peer to Peer Learning – Sharing Experiences/Successes/Failures • Mentorship • Consumer surveys/feedback – trial periods of products – visible exposure • Encouraging Stakeholders to Sign up • Social Platforms –website –Branson Centre /Blue Economy Future organisation; Facebook, Twitter, Instagram; YouTube videos; Linked In • Podcasts recording all presentations and pitches for evaluation, reflection and learning • Possible local and international webinars/Skype • Radio, TV, newspaper interviews

13. HARNESSING THE FOURTH INDUSTRIAL REVOLUTION

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

15. 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, YouTube, 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

16. 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;