Business opportunities abound in marine sector

‘Fishing for Business Opportunities: Catch onto new strategies at Our Ocean Wealth Summit’

According to the recent Global Marine Trends 2030 Report, the marine sector can expect strong growth across commercial shipping, Naval sector, offshore energy, and aquaculture in the coming decades. There is an enormous opportunity for Irish businesses operating in sectors such as engineering, energy, food and technology, to expand their offerings to the marine sector.

To better understand how blue strategies can positively impact Irish businesses, the Marine Institute is hosting Ireland’s leading marine business event ‘Our Ocean Wealth Summit’ in association with PwC at the Galway Docks on June 28 and 29.

Speaking in the run up to Our Ocean Wealth Summit, Dr Peter Heffernan, CEO of the Marine Institute said; “Surrounded by oceans, Ireland has the potential to be a global market leader in the marine sector. We already have a significant number of indigenous companies excelling internationally in the marine space, and there is an opportunity for more Irish companies to expand into this sector and lead with innovation, global ambition, backed by excellent research and facilities.”

For entrepreneurs, start-ups, and businesses interested in finding more information, Our Ocean Wealth Summit includes conference and panel sessions with thought leaders and innovators, as well as a marine trade showcase with exhibits across drone technology, smart shipping, offshore and onshore communications, marine waste management, financial modelling for the marine sector, and more. There will also be ample networking opportunities to connect with national and international businesses, Government representatives, and speakers from USA, Europe, UK, and Ireland.

PwC partner, Declan McDonald, said: “The central theme for the 2018 Summit demonstrates how the integrated marine plan for Ireland is moving into a new phase of commercial engagement beyond EU and Government funding. We see this theme developing globally with many investment managers and investors actively engaged in funding projects in line with the UN sustainable development goals. We see significant activity in the ocean economy to attract investors seeking returns. PwC in Ireland and globally continues to raise awareness and support the sustainable development of the ocean economy recognising that the oceans’ health and wealth are inextricably linked.”

Now in its fifth year, Our Ocean Wealth Summit in association with PwC is supported by a number of partners including IDA Ireland, Enterprise Ireland, Sustainable Energy Authority of Ireland (SEAI ), Science Foundation Ireland, Failte Ireland, Bord Iascaigh Mhara (BIM ), and the Irish Maritime Development Office (IMDO ). The summit is an output of Harnessing Our Ocean Wealth, the Government’s integrated plan for Ireland’s marine sector, which aims to double the value of the marine economy’s contribution to GDP by 2030.

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