Foster blue entrepreneurship

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Blue Business Incubator

The blue entrepreneurship incubator

With a view to reconnecting local communities with conservation, we have developed a community-based business incubator: the Blue Business Incubator.

The aim is to encourage the development of environmentally friendly microbusinesses as a means of engaging the local population in protecting local marine and coastal biodiversity. Each incubator is tailored to local needs and is designed with members of the community.

The first incubator was established in 2019 on the island of Lastovo, in Croatia, in partnership with the WWF Adria and the Croatian ethical bank ZEF. In addition to helping protect local marine and coastal ecosystems, the Lastovo incubator responded to an urgent need to re-establish dialogue among the various stakeholders and promote social acceptance of the local nature park. . Four years later, encouraged by the positive results of this pilot project, we are rolling out the project more widely.

Circular economy

Driving more resilient ecosystems

Recognising the direct link between protecting land ecosystems and marine ecosystems, the Blue Business Incubator supports initiatives connected with both sea and land. For a business to be considered, the only condition is that it has sustainability and economic circularity at its heart.

So it was that on Lastovo, eight entrepreneurs joined our incubator, seeking support for a wide range of projects, including sustainable fishing and farming, ecotourism, soft mobility, waste recycling and preserving traditional skills.

Over the years, the Blue Business Incubator has strengthened cooperation and synergies among the various entrepreneurs. It has helped previously unconnected actors to establish dialogue, and has generated a special dynamic surrounding sustainable development and environmental protection.

Revolving fund issuing microcredits

Supporting access to innovative funding sources

Besides supplying each entrepreneur with tailored training (help to build their economic model and business plan), the incubator also provides them with financial support.

The most distinctive feature of the BBI is that it provides access to a rolling fund, made available in partnership with a local ethical bank, which provides financial support to entrepreneurs in the form of low-interest microcredits. In return, the entrepreneurs must invest this money in a way that will enhance the project’s sustainability.

When the loan is reimbursed, it is automatically returned to the fund, so that the money can be used to help other entrepreneurs.

The financial support provided by the incubator offers these businesses economic viability and financial sustainability, while enabling the entrepreneurs to become more self-sufficient. In this way, the BBI contributes to job creation and securing a reliable business income and, more widely, to the appeal of the region as a whole and associated socio-economic benefits for current and future generations.

Regional revitalisation

Revitalising remote coastal communities

Empowering micro-businesses should infuse the local area with a new energy, as well as fostering greater cooperation and exchange and new partnerships among the local community. As such, the Blue Business Incubator aims to revitalise regions by making them more attractive.

To help prevent coastal communities from becoming isolated, our long-term goal is to establish a network of incubators that can serve as a platform for exchanging ideas and know-how among entrepreneurs, donors, associations and other actors involved in sustainable business.

We see plenty of potential to roll out many more Blue Business Incubators!

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