The blue economy is already vast with over 5 million people employed in blue sectors such as coastal and maritime tourism, shipbuilding, and fisheries, and it could grow further and employ 7 million by 2020. But as fresh water and land are running scarce in the face of a growing world population, we will have to turn more and more to our oceans for our food, medicine, and energy needs. The blue economy has the potential of creating more jobs and further our economic growth. However, our activities must be sustainable so that future generations can enjoy the same healthy and vibrant oceans that we enjoy in our lifetime.

Source: https://www.maritimeindustries.org

As “Blue” Signifies the Sea, Many Countries Consider the Blue Economy Refers to Marine EconomyHowever, these two terms represent different concepts. Ocean economy simply deals with the use of ocean resources and is strictly aimed at empowering the economic system of ocean. Blue economy goes beyond viewing the ocean economy solely as a mechanism for economic growth

Pakistan is endowed with diversified natural capital spanning from a long coast to the second highest mountain peak (K2) of the world. The 990 kilometres long coastline, shared by the coastal provinces of Sindh and Baluchistan, leads onto the maritime zones of Pakistan. These extend up to 350 nautical miles. Firstly, there are the offshore territorial waters up to 12 nautical miles (22.22 kilometres), then the area between 12 and 20 nautical miles acts as the buffer zone; finally, the area beyond the 20 nautical mile line up to 200 nautical miles is regarded as the exclusive economic zone (EEZ) which covers an area of about 240,000 km2 of the Arabian Sea. More recently the EEZ has been further extended by about 50,000 km2 through the recognition of Pakistan’s continental shelf claim under article 76 of UNCLOS (UN Conference on the Laws of the Seas). The coastal and marine resources constitute an integral part of Pakistan’s economy, also acting as the country’s strategic gateway. Three operational seaports and major urban and industrial centres located along the coast are hubs for economic development and exhibit a great potential for emerging economic development opportunities such as, China Pakistan Economic Corridor (CPEC). Mangroves and coastal and marine fish stocks are the principal living natural resources in Pakistan’s coastal zone together with small patches of coral reef, sea turtles, dolphins and porpoises, and a rich bird fauna, especially of migratory species. Small-scale fishing in the mangrove wetlands is a vital subsistence activity for coastal households in Sindh and Baluchistan provinces

Source: https://www.iucn.org/sites/dev/files/pk_coastal_resources_handbook.pdf

Blue economy includes various thematic areas which are:

• Fisheries and Aqua Culture
• Ports, Shipping and Marine transport
• Tourism, Resorts and Coastal Development
• Oil and Gas
• Coastal Manufacturing
• Seabed mining
• Renewable energy
• Marine Biotechnology
• Marine Technology and Environmental Service

The blue economy is not just about market opportunities; it also provides for the protection and development of more intangible 'blue' resources such as traditional ways of life, carbon sequestration, and coastal resilience to help vulnerable states mitigate the often-devastating effects of climate change.

The concept was introduced by Gunter Pauli in his 2010 book- “The Blue Economy: 10 years, 100 innovations, 100 million jobs”. It is the sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean ecosystem health.

Blue economy is an emerging popular concept which revolves around safeguarding the world’s oceans and efficiently using of water resources for sustainable growth and development. The concept at its core refers to promote usage of ocean resources for encompasses many activities including renewable energy, fisheries, maritime transport, coastal tourism, waste management, and climate change risk management. In addition, various emerging new sectors including marine chemistry, ocean engineering, ocean power and biomedicine have taken their place in the blue economy.

The aim of Blue Economy is to shift resources from scarcity to abundance, and to start tackling issues that cause environmental problems, put forward the management tool based on ecosystem service framework for the growth of coastal areas. To achieve long-term sustainable blue growth we need collaboration, inclusion, and trust in the marine sector.

Blue economy initiative is a business challenge which is part of the long-term ecosystem development program which goes through 4 tracks. In initial stage we will be preparing, mentoring, coaching, and training for initiating a business plan for the competition we are launching.

This program is about building and nurturing the youth, academia, and industrialists as it is a multidimensional, multinational program. We invite them to look at the local opportunities and propose a sustainable business plan by utilizing the vast resources present in our ocean.

To embed the mindset of entrepreneurial culture we are moving towards three important tracks 1. International Incubators, 2. Funding Organizations, 3. Business Competitions and 4. International Universities all these areas are working towards blue growth.

Our ultimate objective is to bring forward the international donors and funding both also bringing the experts from startups and encourage them to work with international incubatory. We are promoting culture of collaboration and participation among youth, academia, and industrialists to come forward and come up with solutions for these opportunities.

Key Dates

TBD: Competition Opens

TBD: Last Date of Submission

TBD: Competition Winners Announcement

Participants must register through the given form on website and follow the below steps

To submit your entry:

1- Fill in your complete personal details

2- Present your ideas

3. Agree to terms and conditions

4- Submit