PERISCOPE

Blue Invest 2018: An ocean of opportunity

Tuesday, May 22, 2018 - Published by Stig Marthinsen
Blue Invest 2018, which took place on 17 May 2018 in Brussels, was a match-making event that brought together innovators and the financial community to boost the economic potential of the ocean while protecting its marine resources.

The event created bilateral networking opportunities for blue economy entrepreneurs, innovators and investors. PERISCOPE was represented by Judith Pretty of South Norway European Office, who commented, “This was a fantastic event where the potential of the blue economy was showcased. It was an ideal platform for PERISCOPE and we made many useful contacts”.

In addition, a selection of companies had the opportunity to pitch their projects live in front of a jury of investors. Topics covered Digital Ocean, Green Solutions for a Blue Planet, Energy from the Ocean and Food from the Ocean.

The global blue economy, covering fisheries, renewable energy and biotechnology, is set to grow at twice the rate of the mainstream economy by 2030. For Europe, this could mean 10.8 million jobs and nearly 1 trillion euro in turnover. But the needs for investment are huge and many innovative companies lack the financial backing to grow and bring their products and services to the marketplace.

“Our ocean is a source of food, medicine, energy and so much more. The European Commission wants to boost companies that see the ocean as an opportunity. Access to finance is the passage to sustainable growth. We want to go beyond merely funding and actively match companies with potential investors. I believe this will shine light on this rapidly developing sector and create opportunities for jobs creation, economic growth and the sustainable development of the blue economy”, says Karmenu Vella, Commissioner for Environment, Maritime Affairs and Fisheries.