Te Puna Umanga Venture Taranaki explores blue economy opportunities for region

A recent workshop has explored how Taranaki could benefit from a sustainable blue economy.

Te Puna Umanga Venture Taranaki recently explored the sustainability of a blue economy in Taranaki.

On Friday, June 21, the regional development agency hosted a workshop about the sustainability of using marine activities for economic growth.

Sustainable Sea National Science Challenge representatives were at the workshop, speaking to industry leaders in the engineering, food and tourism industries, as well as entrepreneurs, iwi, students, community groups and members of local government, kick-starting a conversation regarding what a sustainable blue economy could look like for Taranaki.

Sustainable Seas National Science Challenge director Julie Hall said concept of a blue economy goes beyond the traditional, purely economic notion of GDP.

“The blue economy is a whole new way of doing business. We define it as marine activities that not only generate economic value, but more importantly have positive ecological, cultural and social wellbeing outcomes.”

With over 300km of coastline wrapping around Taranaki, the blue economy presents immense opportunities for a diverse array of sectors in the region, from eco-tourism to food ventures, marine conservation, energy, and iwi-led initiatives, said Te Puna Umanga Venture Taranaki deputy chief executive and investment general manager Stacey Hitchcock.

“Unlocking a sustainable blue economy could allow us to build our regional resilience, providing sustainable economic growth, employment, and exciting innovative ventures that care for our precious marine environment, people and community.”

The event also covered informative case studies of the blue economy in practice, showcasing innovations from seaweed aquaculture to clever starfish skincare products which are helping to preserve shellfish populations in Ōhiwa Harbour.

Attendees also gained regional insights from Kaikōura, Southland, and the New Zealand-leading Moananui cluster.

Hitchcock said the event was a great platform with which to spark the conversation, and it encouraged people to connect to collaborate, innovate, and explore the possibilities and current barriers for a blue economy in the region.