Most islanders living in Small Island developing States have a good sense of the economic benefits they can obtain from the ocean as their livelihoods depend almost entirely on it, but more businesses need to be developed to reduce the detrimental impact economic activity can have on the health of the oceans and the depletion of marine resources.
The Seychelles Blue Economy concept, launched in 2014 by the Government of Seychelles, under the leadership of President James Michel, focuses on the sustainable development of ocean-based economic enterprises while also protecting oceans, the source of its fisheries and tourism activities, as well as developing new ventures through scientific and technological innovation.
Building on this national initiative, the James Michel Foundation will develop programmes which encourage the formation of new Blue Economy enterprises, promote Blue Economy careers among the youth as well as educate the young and old about the tangible development of the concept in the Seychelles islands.
Publish a Laymans Guide to the Blue Economy, a printed and online guide, following an international photography competition, with the award winners featured in the publication.
Development of a Blue Economy Incubator programme that encourages young, ambitious Seychellois entrepreneurs to develop innovative business ventures that will become leading ventures in the Blue Economy. The James Michel Foundation may provide funding, feasibility assessment, technological and administrative support, as well as introductions to potential partners and investors.
Provide funding for a youth-based Blue Economy Internship programme, organized by the SIDS Youth AIMS Hub Seychelles (SYAH).