BLUE ECONOMY
Advancing sustainable ocean and water-based economies requires bold ideas, collaborative action, and research-driven solutions. Through innovative insights and strategic partnerships, Vikāra Institute is leading initiatives that promote sustainable ocean and water-based economic practices.
CURRENT INITIATIVES
The Vikāra Institute has positioned the blue economy as a strategic priority for 2024 and 2025, driving transformative solutions that foster sustainable economic growth while preserving aquatic ecosystems. Below, we outline our initiatives, their objectives, and their alignment with our commitment to promoting a thriving and resilient blue economy through inclusive and innovative practices.
VIKARA LEARNING SERIES ON MSD IN THE BLUE ECONOMY
BLUE ECONOMY IN MSD SUMMIT (MSS2024)
LEARNING PROGRAM: MARKET SYSTEMS IN THE AGE OF BIG DATA
BLUE ECONOMY COMMUNITY OF PRACTICE (CoP) (2025)
FROM COAST TO MARKET:
VIKĀRA'S LEADERSHIP IN
BLUE ECONOMY
For nearly two decades, Vikāra’s initiatives have been supporting what is now known as the blue economy - long before the term became mainstream. Our journey started in 2004 with seaweed farmers in Tanzania, recognizing the untapped potential of coastal resources and the need for more sustainable livelihoods. Over the years, we’ve expanded across inland and ocean-based economies, working to create lasting, systemic change in aquaculture, fisheries, and circular economy initiatives.
Here’s how we’ve contributed to the blue economy over the years:
AQUACULTURE &
INLAND WATER ECONOMIES
Bangladesh – Youth Employment in Aquaculture
We supported a prawn hatchery training center that equipped youth—40% of them women—with the skills to run hatcheries, become prawn farmers, and engage in polyculture systems that combined fish and vegetable farming. Beyond training, we conducted a market systems analysis to ensure employment opportunities were sustainable and aligned with environmental and social responsibility.
Haiti – Sustainable Aquaculture Development
In Haiti, we conducted market opportunity assessments and made recommendations on strengthening opportunities for youth employment and self-employment in aquaculture activities to improve food security and economic opportunities. By engaging with local livelihood support organizations, we trained communities in sustainable fish farming techniques and connected them with private-sector partners to create viable market linkages.
Kenya – Aquaculture Training for Low-Income Fish Farmers
Instead of offering short-term training, we partnered with a university to integrate aquaculture training into their technical courses for farmers, ensuring ongoing knowledge transfer. This covered breeding fish (fingerlings) for sale, growing fish for restaurants and markets, and producing fish feed, alongside promoting sustainable aquaculture practices.
Timor-Leste – Blue Economy Market Studies
As part of a broader sector assessment, we evaluated aquaculture and fisheries as key economic opportunities, identifying ways to strengthen sustainable blue economy initiatives in small island economies.
ISLAND NATIONS AND
COASTAL MARKET SYSTEMS
Caribbean – Market Opportunity Assessments
Across island nations—including St. Vincent and the Grenadines and St. Lucia—we analyzed blue economy-related sectors such as tourism, yachting, fisheries, and waste management to identify viable employment and enterprise development opportunities.
Haiti – Payment for Ecosystem Services in Vetiver Farming
We designed a payment for ecosystem services (PES) mechanism to balance economic use of vetiver with its critical role in preventing soil erosion in coastal areas. This approach helped shift buyer and grower practices toward more environmentally sustainable production.
Solomon Islands – Market Systems Development
We provided capacity-building support for key economic sectors in a small island nation, strengthening market linkages and sustainable livelihoods.
DRIVING INNOVATION IN
THE BLUE ECONOMY
Blue Economy Community of Practice
Most recently, we launched a Blue Economy Community of Practice, creating a space for practitioners to collaborate, share knowledge, and advance sustainable blue economy solutions.
Business Challenge Fund – Circular Economy Innovations
We supported a Business Challenge Fund focused on circular economy principles, which attracted innovative businesses, including:
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A company designing and manufacturing bicycles using recycled plastic waste, including discarded nylon fishnets collected from the sea. This initiative not only gives a second life to ocean plastic but also provides income-generating opportunities for coastal communities and fishermen through material collection.
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A business repurposing natural ocean waste, such as seaweed, as a concrete filler, creating a more sustainable building material while reducing environmental impact.
Through all these initiatives, Vikāra has demonstrated that building a sustainable blue economy requires more than just individual projects—it demands systemic change. By strengthening market linkages, integrating environmental responsibility into business models, and ensuring economic benefits reach coastal and water-dependent communities, we continue to drive innovation, sustainability, and inclusive economic growth in the blue economy.
KEY EVENTS
We actively participate in key Blue Economy events worldwide, contributing thought leadership, research, and strategic discussions.
REGENERATIVE OCEAN WEEK (ROW)
Hosted by Ocean Innovation Africa (OIA)
24 - 28 February, 2025
Dar es Salaam, Tanzania
Vikāra Institute presented on sustainable ocean economies at Ocean Innovation Africa (OIA) and Regenerative Ocean Week (ROW) 2025 in Dar es Salaam. Through expert insights, strategic discussions, and a dynamic Sea Side Chat, Vikāra Institute is advancing solutions for regenerative marine systems.
Learn more about our involvement in OIA and Regenerative Ocean Week (ROW).