Ocean economy is the 7th largest economy of the world, valued at US$ 2.4 trillion. It directly employs more than 6 million people, and the global numbers are set to grow to 43 million by 2030.
Sustainable fishing practices, ocean protection norms and technology innovations represent the ground for blue-entrepreneurs to flourish.
An Indonesian start-up is tracking Indonesia’s catch of tuna into the block chain. By assigning a digital identity to each catch, it tracks the audit information that proves that fish were caught in a legal and sustainable manner.
On the environment protection side, this enterprise is farming coral on land with the hope of saving reefs in the ocean.
Important forces such as political will, the need to feed an increasing number of people and a demand shift in consumer’s preferences towards fisheries products are pivoting the fishery industry towards sustainability.