Entrepreneurs around Micronesia Restore Both Fisheries and Local Economies
The Fish 2.0 business competition held a workshop for entrepreneurs from the Federated States of Micronesia (FSM), the Marshall Islands, Palau, Guam and Saipan. The workshop was held in Pohnpei with the support of the Micronesia Conservation Trust, IdEA and the David and Lucile Packard Foundation.
Before we went, some colleagues wondered whether there would be enough businesses from this region to warrant having a workshop at all. The 25 entrepreneurs who attended quickly alleviated these concerns.
Participating businesses ranged from lobster and rabbit fish aquaculture, to rental equipment for local fishermen, to small-scale distributors who bring locally caught seafood to markets and restaurants in the region.
The challenges these business leaders face demonstrate how large-scale, foreign fishing offshore, coupled with declining nearshore reef fisheries, creates both the need and opportunity for sustainability-oriented business innovation.
More than 50% of the tuna the world eats comes from the many small islands in the Western Pacific. These fisheries earn hundreds of millions in U.S. dollars each year, but very little of that money returns to local communities: the fishing boats that operate here are usually from other places – China, Japan, and the mainland US, to name —> Read More Here