VICTORIA, Seychelles — Seychellois entrepreneurs engaged in the blue economy stand a chance to secure investment through the BlueInvest Africa initiative. The second pitching competition will be held in Kwale County, Kenya, on July 3 and 4, 2024, and the call for project submissions is open to both established businesses and micro, small and medium-sized enterprises. The deadline for submissions is February 2, and interested firms are being encouraged to apply early in order to allow time for the formal review process.
Projects incorporating fisheries and aquaculture, bio-marine technology, coastal protection and nature-based solutions to address climate change are encouraged, as well as renewable energy solutions. Businesses offering marine products and services such as insurance, monitoring and surveying, and shipbuilding and shipping operations are also eligible, among other blue economy sectors. Of the submissions received, 30 outstanding projects will be selected for presentation to a panel of investors and partners, with the event anticipating the participation of some 200 attendees, along with remote participants from Africa and Europe.
Selectees from each venture will have the opportunity to pitch their projects, ideas, products or services, and to engage directly with both public and private investors to secure deals and financial support for their businesses. The event will also provide access to coaching and mentoring sessions, as well as access to various development banks and financial institutions. Similarly to the first one held in Seychelles, the project presentations will be attended by various investor categories, as well as diverse collective entities such as business platforms, incubators and business angels.
Projects will be assessed based on compliance with guidelines and criteria, innovation and feasibility, and technical expertise in the field. Entrepreneurs must be able to demonstrate the sustainability aspect, in production, implementation, and the life cycle of the project. Projects must be under development, and suitable for deployment in one or more African countries. The first business forum to be held on the African continent was in Seychelles on September 7 and 8, 2022, and saw the participation of 165 participants who attended physically, with 37 African states represented.
BlueInvest Africa was initiated by the European Commission in 2022, to bridge the gap between entrepreneurs seeking financing, and international investors scouting for opportunities. Additionally, it seeks to spotlight the untapped potential on the African continent, through the promotion of entrepreneurial initiatives, and innovative, sustainable solutions. Local firms interested in applying can obtain further details from the Seychelles Investment Board and from the Department of Blue Economy, both of which have been involved in promoting the event to potential local applicants.
