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Food, Farming, Fisheries
Maritime Forum

The Oceanum Portugal Hub

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City
Funchal
Country
Portugal
Stage of project
Stage 1: Concept
Sea basin regions
Atlantic Ocean (including North Sea)
Topics
Food from the ocean
Categories
Ocean conservation
Community engagement - work with local communities to solve local marine and social challenges and with high social acceptance potential
Business and innovation (creation, process, strategy, product, service, etc.) related to sustainable use of marine resources

The Oceanum Portugal Hub project mission is to integrate Madeira Island Sea Nature tourism, aquaculture and local restaurants to improve their business results under the triple bottom line concept. The triple bottom line concept is the idea that business should not aim for profit only, but also care about social and environmental outcomes of their actions.The main impact is to integrate enterprises under the blue economy concept of profitably exploring the sea and at the same time, respect and preserve the environment.Madeira Island suffers from ocean illiteracy about aquaculture and its beneficial effect of providing health and safe sea-to-table food. Also, due to Covid19 Pandemic, the Island economy is suffering due to the absence of tourists. Therefore, the project aims to integrate local business (Nature Tourism and Local Restaurants) with the aquaculture sector that has the potential to be an alternative to make Madeira Island economically heterogeneous and resilient, generating jobs and improving R&D investments in the industry. The hub will analyze the companies' performances and then make a strategic formulation to integrate them while promoting them on social media.