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Peniche Ocean Watch Initiative - Rejuvenating Coastal Communities through Enabling a Blue Circular Economy

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Through joining forces with local efforts in the coastal areas of Peniche, Portugal, and facilitating knowledge sharing and creativity in ocean-based industry and digitalization, we at the Peniche Ocean Watch Initiative hope to release trapped value that enables a blue circular economy and global best practice in tackling ocean waste and regional rejuvenation.

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Peniche Ocean Watch Initiative - Rejuvenating Coastal Communities through Enabling a Blue Circular Economy

  1. 1. An Ocean of Opportunity --- Rejuvenating Coastal Communities through Enabling a Blue Circular Economy Peniche Ocean Watch Initiative (POW) By Ocean Tech Hub in Peniche, September 2018 1. Summary Through joining forces with local efforts in the coastal areas of Peniche, Portugal, and facilitating knowledge sharing and creativity in ocean-based industry and digitalization, we at the Peniche Ocean Watch Initiative hope to release trapped value that enables a blue circular economy and global best practice in tackling ocean waste and regional rejuvenation. For almost one billion people living in coastal areas globally, the ocean is the primary source of livelihood. Yet many argue that the economic model of coastal communities is broken, and if nothing is done to remedy their situation, these communities will continue to disintegrate. We at the Ocean Tech Hub in Peniche believe, however, that digitalization and exponential technologies along with fundamental changes in the way we live and work and even emerging new forms of value creation offer hope for a brighter future for coastal communities. Peniche has historically and foremost relied on the fishing industry. Today, the industry has suffered a significant downturn, and the number of fishermen in the Peniche area has fallen from 4,000 to some 600 in just a few years. The coastal and marine areas have also been degraded by excessive surface and sub-surface waste. Efforts to revive the greater Peniche area include, for example, tourism connected to surfing and water sports. Ocean-focused initiatives, such as marine litter collection and recycling by the local university IPLeiria, have emerged to restore marine environments. Unfortunately, these have done little to revive the local fishing industry nor create a new sustainable base for economic development. Finally, while the EU has made great leaps within digital transformation, Peniche lags considerably behind most EU regions due to limited digitalization activity.
  2. 2. September 2018 2 The objective of the Peniche Ocean Watch (POW) Initiative is to take a holistic and integrated perspective on regional development, digital transformation, and ocean initiatives to enable a blue circular economy in the region of Peniche – a fishing port of approximately 27,000 people in central Portugal. We established the POW Initiative in the summer of 2018 to contribute to Peniche’s economic development and the sustainable management of its marine resources. Six distinctive and preliminary work packages have been designed, covering marine litter mapping through to collection, handling and value-added remanufacturing. Currently, the Peniche Ocean Watch Initiative is building local partnerships among the government, university, fishing associations, entrepreneurs, and businesses as well as with digital nomads living in Portugal. We are also leveraging our international networks in locations such as Norway, Sweden, and California. 2. Coastal Communities and the Tragedy of the Commons The ocean and its vast stocks of living resources have been the primary source of food, livelihood, community, and identity for almost one billion people across the globe. For centuries, families have passed down knowledge about the sea, and fishing boats have gone from father to son. Traditions were developed and cultural norms around fishing practices were adhered to such that collective resources were conserved and replenished, creating a sense of collective spirit and of community. In Peniche, for example, boats leave the port at 2 pm every day during sardine fishing season. There is an unwritten rule that no boat can leave the harbor until all the boats are ready. So even though one boat and its crew might be ready to sail out, they wait until all other boats are lined up before they set off to sea. However, coastal communities around the world - including Peniche – now face the “tragedy of the commons” dilemma. In 1968, Garrett Hardin coined the expression to describe the situation when individuals act out of self-interest, at the expense of the common good of all, and collectively deplete and degrade a resource – such as the ocean. Since the 1950s, the fishing industry has experienced technological advances to meet a rapidly growing demand for fish and fish-based products. Today, people eat on average around four times more fish than they did in 1950. The OECD estimates that oceans contribute USD 1.3 trillion per year in value added to the global economy, USD 148 billion in global exports (2014) and over 17% of total animal protein consumed globally.i Fishing vessels have become larger and more mechanized, and new technologies such as radar, sonar, and electronic navigation systems have resulted in substantially increased efficiencies and productivity. Treaties have opened up waters for large-scale fishing fleets, covering larger ranges, greater depths and longer fishing trips. For example, a bottom trawler can scoop up hundreds of thousands of kilos in only one day, and one quarter of the EU catch now occurs outside European waters. Overfishing and harmful fishing practices, along with ocean pollution, have degraded marine ecosystems and directly impacted job creation and livelihoods in coastal communities. The World Bank and the UN DESA estimate that the share of harvested fish stocks outside biologically sustainable levels increased from 10% to 32% from 1974 to 2013, and that every year, over 8 million tons of plastic enter the oceans.ii Bottom trawl nets destroy coral reefs while large scale fishing fleets and illegal fishing are depleting fish stocks and breeding grounds,
  3. 3. September 2018 3 with the latter accounting for 15% of all catch. Today it is estimated that 85% of global fish stocks are over-exploited, depleted, fully exploitedor in recovery from exploitation. As a result, in the early 1990s, the Atlantic Northwest cod industry collapsed, and 35,000 fishermen and plant workers lost their jobs. Furthermore, fisheries in West Africa have declined by approximately 50% over the past 30 years. 3. A Broken Economic Model Similar to other industries, industrialization and globalization have created a disconnect between modernization and sustained livelihoods of those traditionally involved in the fishing industry. Although over 90% of fishing in the world is done through small-scale operations, the economic benefits have remained with a small percentage of fishing communities and corporations. Competition, quotas, and bans on fishing have further constrained the productivity of small-scale operations along with their associated industries and markets, e.g., canning, boat construction. On average, coastal communities now suffer higher rates of unemployment, lower wages and a lag in digitalization. Take Peniche as an example. In this coastal community, younger generations migrate to Lisbon, Porto, or Coimbra or even abroad in search of work while older generations remain. The passing of traditions ceases, and there is a loss of communal identity. Seventy percent of properties in the city are vacant. Amidst ruins and boarded up houses, one finds surf hostels and Airbnb rentals while the primary source of work is tourism, real estate, and low-level service jobs. Furthermore, coastal communities do not attract investment and do not have access to political power to explore new opportunities. Analysis in the UK has shown that individuals in coastal communities were 45% less likely to start a business, and that those who started a business were more likely to go into insolvency than their counterparts in non-coastal communities. Indeed, many argue that the economic model of coastal communities is now broken. 4. Tourism – Only a Short-term Solution Tourism is commonly heralded as the solution to economic growth and job creation in coastal areas. Economic development, new consumer values and a deregulated airline industry have contributed to the rising number of tourists globally. Digitalization and the sharing economy have created new forms of travel solutions such as Airbnb, couchsurfing, and glamping. Coastal tourism, however, also brings tensions between tourists and locals while doing little to build the underlying economic resiliency and identity of the community. For example, real estate prices in areas with second homes and holiday rentals rise, making them unaffordable to residents. While Airbnb initially provided extra revenue to locals, larger property owners are now taking bigger stakes in this market. Tourism brings jobs that are low-skilled, low paid, and highly seasonal, leading to a transient and seasonal workforce that does little to build the skill base of the local community. Furthermore, highly seasonal tourism reduces the level of
  4. 4. September 2018 4 local services for year-round residents during the off-season in critical areas such as health and social care. 5. Could There be a “Perfect Storm” Brewing on the Horizon for Coastal Communities? Scenario thinking is a strategic tool that can be used to project alternative futures of coastal communities and to help explore where the opportunities lie to escape the observed downward spiral. Scenario thinking creates narratives by imagining how influential, and at times converging, trends influence the status quo. These trends are conceptualized in the PESTEL framework covering political, economic, sociological, technological, environmental, and legal drivers. Below, we elaborate on the drivers in relation to the potential ‘perfect storm’ for coastal communities in the Peniche area. Amongst all trends, it is technology that is significantly impacting coastal livelihoods and industries. For example, aquaculture enables large-scale fish stock production while ocean winds and currents, and potentially biofuels from sea algae, are sources of new energy. Soon, artificial intelligence and smart drones will help map the sea and provide services such as identifying illegal fishing. The Internet of Things (IoT) and autonomous vehicles and boats can optimize port and shipping operations. Additive manufacturing can reconstruct coral reefs while material technology advances can lead to the viability of recyclíng marine litter. Furthermore, enabling entrepreneurship and innovation to spur economic and job growth is politically crucial for most European governments, including Portugal. In terms of economic trends, there are concurrently new business models emerging from digitalization as well as a shift towards a sharing and circular economy. Fintech, or new technology-enabled financial solutions such as crowdfunding, cryptocurrencies, and the blockchain, are enabling access to funding from anywhere in the world as well to better track funding flows. The observed social trends in Europe are on the one hand driven by aging populations and migration, but on the other hand, driven by changes in the way we organize work and life. Office parks are giving way to coffee shops and coworking spaces as the number of freelancers and distance workers rise. Digital nomads, or freelancers and even full-time employees who have chosen to live in a place for only a few months before moving on, are leading to a rise in co-living spaces in attractive areas globally. Rural and medium-sized cities have been able to attract people who are deterred by the pollution and housing prices of urban centers. Due to the small size of coastal communities and their proximity to nature, these regions are becoming increasingly attractive to more mobile individuals. Reversing the degradation of land and ocean, along with adapting to and mitigating climate change, underpin the environmental trends in local communities and are encouraging regional and global cooperation. Increasing ocean literacy and a focus on blue circular economy are driving political, economic, and civil society interests. At the same time, ‘bottom- up’ efforts to clean the ocean and coastal areas are growing rapidly and attracting volunteers, political support, and investments. For example, the Ocean Cleanup Project raised USD 2.2 million in 100 days from 38,000 funders from 160 countries using the crowdfunding platform, Kickstarter.
  5. 5. September 2018 5 The national and international deliberations, regulations and agreements determining how coasts and the ocean are utilized underpin the legal drivers affecting coastal communities. In addition, however, new types of legal corporations are evolving. Social entrepreneurship - seeking to combine financial benefits with social and environmental impact - is shaping a new form of business: the Benefit Corporation. These are both a philanthropic foundation and a for-profit firm. Today there are around 2,500 such corporations globally (e.g., Patagonia). Perhaps these could provide the foundation for a new economic model for coastal communities? 6. Peniche – A Coastal Community with Unique Opportunities The Peniche Ocean Watch Initiative intends to leverage the positive PESTEL trends and explore new forms of value creation to develop a new economic model for coastal communities. Fishing has shaped life in Peniche for centuries, and it was a wealthy and vibrant city in the 1970s. Despite suffering from the downturn discussed above, Peniche still has a very strong potential to offer the POW Initiative for the following reasons: • The city of Peniche is one of the few operating fishing ports in Portugal, and it has extensive fishing history, knowledge, and physical resources. Some 600 fishermen are still active in the area. There are also a considerable number of underutilized facilities. For example, the shipyard, fishing vessels, and warehouses of Peniche offer resources and opportunities for the POW initiative. • There is a strong entrepreneurial mindset in the Peniche area - albeit overshadowed by doubt due to the city’s economic decline. Supporting industries are also active in the region, such as plastics, recycling, and manufacturing of sporting goods. • The Polytechnic Institute of Leiria (IPLeiria) in Peniche has approximately 1,500 students and is part of the Erasmus exchange program attracting international master’s students to the region. IPLeiria is in the process of developing a Smart Ocean facility with the purpose of enabling ocean-based initiatives around aquaculture and ecotourism. • Peniche is located a one hour’s drive from Lisbon and the Portela International Airport, meaning it is well connected to Lisbon and its research and industries but also to Europe and international hubs. • The municipal government of Peniche, elected in October 2017, is supportive of regional development initiatives that strengthen digitalization and innovation as well as coastal rejuvenation and sustainable oceans. • The Central Region of Portugal, where Peniche is located, is one of seven designated regions in the EU for specific development focus due to its relatively poor economic circumstances. • Peniche attracts talent and visitors from across the globe due to the beauty of its nature and surfing for anyone from a beginner to a world champion.
  6. 6. September 2018 6 7. The Peniche Ocean Watch Initiative – Co-creating a Bright Future? With Peniche as the optimal location, the POW Initiative will focus on the threats and challenges but also opportunities, of marine litter. Although most ocean cleanup efforts target waste and litter found on beaches and floating on the ocean surface, millions of tons of litter have accumulated over the years at the bottom of the sea. The resulting environmental degradation and the myriad of negative impacts on marine ecosystems and fish are alarming. For example, ghost nets are trapping fish on the open sea bed while junk in harbors, anything from cars to refrigerators, keep fish from spawning. The POW Initiative comprises four core work packages and two integrating work packages (WP) to address and develop opportunities from marine litter (figure 1): Primary work packages WP1 Marine litter mapping WP2 Marine litter collection WP3 Marine litter handling & recycling WP4 Recycled marine litter manufacturing Integrating work packages WP5 Entrepreneurship & economic viability WP6 Coordination, research, & awareness Figure 1. Proposed Work Packages for the POW Initiative WP1 Marine litter mapping Work package 1 entails geolocating and mapping the extensive marine litter under the ocean surface. In the Peniche area, local fishermen know roughly where marine litter has accumulated. Yet the precise location and extent of the waste has proven difficult to map. Recent advances in surveillance and drone technology and machine learning, however, are enabling new forms of marine mapping that we propose to explore in this project. For example, WP1: Marine litter mapping WP2: Marine litter collection WP3: Marine litter handling & recycling WP4: Recycled marine litter manufacturing WP5: Entrepreneurship and economic viability WP6.1: Coordination WP6.2: Research WP6.3: Awareness
  7. 7. September 2018 7 an underwater drone in the form of an eel can explore historically heavily fished areas through filming, thereby creating datasets that can be sent either to flying drones overhead or to a nearby ship. These datasets can then be analyzed to enable the mapping of marine litter. Over time, machine learning using algorithms analyzing these datasets will further improve the location of marine litter and therefore, the ability to collect and utilize it. WP2 Marine litter collection To date, several challenges have inhibited the scalable collection of sub-surface waste. For example, fishing boats and ports are equipped with containers for the disposal of fishing equipment during the actual act of fishing (i.e., preventive measures), but the boats themselves are not specifically equipped to conduct the retrieval of marine litter from the sea. To bring up the litter from the seafloor is risky. Nets can get entangled in coral reefs and disturbances to seafloor sediments release nutrients and heavy metals as well as other articles, such as undetonated bombs, deposited over time. Furthermore, combining marine litter retrieval at the same time as fishing is not easy for fishermen. Finally, because most marine litter retrieval has limited economic value there are few incentives for fishermen to engage in the activity. The POW Initiative will explore several strategic opportunities to overcome the above challenges. First, studies using naval architecture and simulation tools will be conducted to determine how current fishing boats might be reconceptualized to enable the safest and most efficient retrieval of marine litter. Second, a study together with the local and national fishing industry associations will be conducted to determine how the fishermen could develop marine litter retrieval as a viable complementary activity to their fishing activity. This will provide a strong incentive to mobilize and enable fishing vessels in their off-season, thereby releasing significant locally trapped value. Further, the local shipyard in Peniche is an ideal facility for the design and construction of special tools for optimal waste collection and harvest from the ocean floor as well as for the refurbishment of existing fishing vessels for collection activity. WP3 Marine litter handling & recycling Work package 3 will leverage the knowledge gained through numerous efforts across the globe on how to best handle and recycle marine litter once collected. Once marine litter is reclaimed from the sea, it must be sorted and handled for either reusing, recycling, remanufacturing, or potentially burned for energy. There are numerous small-scale recycling solutions and initiatives locally and globally – such as art, bathing suits, sunglasses, and surf fins. Traditional production techniques are used to turn waste into new products (e.g., plastic injection molding, assembly). Several large warehouse facilities in the Peniche port, which were previously used for the fishing industry, now stand idle. Today the local authorities are already investigating how the port area and these warehouses could be revitalized for the future, and the POW Initiative will explore how to transform such spaces to waste management sites that receive, handle and sort marine litter. WP4 Recycled marine litter manufacturing Recycling marine litter into new products of value is instrumental to enabling the circular economy. In work package 4, the production processes currently being used to manufacture new products out of waste in different places of the world will be assessed. Furthermore, the work package will involve investigating recent advances in material technology and 3D
  8. 8. September 2018 8 printing to recycle marine waste. Digitalization is enabling new cutting-edge manufacturing processes, thereby increasing the possibilities and alternatives for turning recycled material into anything from smaller items to autonomous vehicles. Additionally, this project will focus on integrating the Internet of Things with the recycled manufactured products to enable the mapping and study of their usage to prevent further littering. WP5 Entrepreneurship and economic viability The first integrating work package will focus on regional economic growth through entrepreneurship and digitalization. An Ocean Tech Hub for startup entrepreneurs in Peniche will act as an enabler and accelerator for both innovation and entrepreneurship by bringing actors from the fishing industry and the local university together with students and entrepreneurs from the local area as well as from abroad. The Ocean Tech Hub will therefore provide a foundation for the four core working packages of the POW Initiative. During 2018, the Hub has purchased a warehouse in Peniche and subsequently begun refurbishing it to be its and the POW Initiative’s headquarters. An example of what this set-up offers, with its strong connections to startup entrepreneurs and digitalization, is to explore how blockchain can be incorporated into the entire cycle of the work packages – from mapping through to remanufacturing. This is because the blockchain is ideally suited for supply chain operations where physical objects pass from one phase to another to secure logistics and payment transactions. The POW Initiative will coordinate with TAVAHA and the Nordic Ocean Watch, a marine litter initiative in Hoddevik, Norway, which are working with a form of a cryptocurrency to give value to the collected waste. To explore and secure additional financing, we will explore crowdfunded equity for a benefit corporation, enabling people across the world to not only participate but to own a stake in the POW Initiative. WP6 Coordination, research and awareness Successful implementation of the POW Initiative requires a strong coordination function so that collaboration and communication among the many partners, stakeholders and management committees is effective. Furthermore, coordination will ensure work packages are aligned and results-driven, as well as ensure linking research findings directly to the design and implementation of marine litter management solutions. The research activities of the POW Initiative will be based on the collaboration with local and international researchers interested in sustainability, digitalization, and ocean initiatives. Finally, the work package needs to effectively communicate and raise awareness of the potential value of the POW Initiative. Thereby elevating the national and international visibility of the Peniche area and to attract investment and competence. 8. POW – Setting the Foundation for Future Solutions The above six work packages describe the goals of the POW Initiative for the near future. These will set a foundation, with new resources and capabilities, for exploring new solutions and opportunities to produce new products and services through new business models. One such opportunity is discussed below to illustrate the long-term potential of the POW Initiative. What if 3D printed transportation pods could be produced using recycled marine litter reinforced with flexible and very strong graphene? Local Motors, based in Arizona, is already
  9. 9. September 2018 9 producing the Olli, a 3D printed carbon-reinforced autonomous vehicle, and in Sweden, 2DFab is actively developing graphene solutions. For places such as Peniche, transportation pods made out of marine litter could offer transportation to tourists as well as improve delivery of groceries, takeout food, and packages. Since they are 3D printed, the pods can be customized for tailored transportation services in lieu of limited public transportation alternatives. In places where the aging populations are growing, services such as a ‘doctor-on-wheels’ using such pods could help better serve such groups and customers. Coastal cities are an ideal testing ground for autonomous pods as they often have simpler transportation networks. In Peniche, there are one to two lane roads with few stop signs and only one traffic light, for example. Since these pods are smart, we could create a mobile payment system on the blockchain with dynamic pricing, such that prices are dependent on factors such as the weather, distance traveled, time of the day, and services offered. A credit system could even be used when pods are charged at a local resident’s house using energy from their solar panels, enabling them to use the pod for free. And how about arranging the corporate structure of these pods so they are owned by a new legal entity – the benefit corporation rooted in the local community? This would mean fishermen, divers and others involved in the mapping, reclaiming, handling, and recycling of the marine litter could receive a continuous financial return on their activity. Where the pods and other recycled marine litter products are manufactured can also be reconceptualized. What if we were to repurpose a large container ship into a 3D printing factory in the ocean? The marine litter could be delivered directly to the container ship where it could be handled, shredded, and then fed into the 3D printers to print things to be taken to shore. Renewable energy technologies are enabling the harnessing of wind, water, and solar energy to power such boats. A big benefit is that such a factory set up does not have to stay in one place. It could move along the coast, anchoring itself near the area to be cleaned. 9. Partnering Organizations and Funding The POW Initiative has gained the support from Peniche Municipality President Henrique Bertino and others in the Municipality, the management of Polytechnic Institute of Leiria in Peniche, the fishing association OPCentro, and local entrepreneurs and businesses. In addition, a number of partners are currently involved: • Inocean AS – One of the leading naval architect and ocean engineering firms in the world with more than 20 years of experience and offices in Norway, Sweden, Poland, and Brazil. Inocean brings technology and knowledge in several areas to the project: marine handling, subsea operation, autonomous underwater vehicles (drones), machine learning, and naval architecture. Inocean is developing and utilizing software simulation tools for marine and subsea operations. More information at www.inocean.no. • Chalmers University of Technology - One of the leading technology universities in the world based in Gothenburg, Sweden, with extensive knowledge in marine operations, sustainability, artificial intelligence, material technologies, 3D printing, and digitalization. More information at www.chalmers.se.
  10. 10. September 2018 10 • SMART Ocean Sweden – A public-private partnership based in Gothenburg, Sweden focusing on Sustainable Marine Aquaculture & Renewable Technologies. • Nordic Ocean Watch and TAVAHA – An environmental collective dedicated to taking care of the ocean, also exploring the use of blockchain technology. More information at www.nordicoceanwatch.no. • Numerous serial entrepreneurs and global leaders in digitalization and sustainability in the greater Peniche area as well as in Sweden, Norway, and California who are connected to the initiators of the POW Initiative. We are currently preparing a proposal for the MAR 2020 Programme under the European Maritime and Fisheries Fund, which is part of the €25 billion Portugal 2020 partnership between Portugal and the European Commission. The Mar 2020 funding will enable a six- month pre-study for the work packages as well as to explore other potential funding sources. 10. Enabling Entrepreneurial Leadership to Overcome the Challenges Ahead We started the POW initiative in late June of 2018, and the momentum and the level of support gained in five months is truly amazing. Our team continues to grow locally as well as internationally. Reflecting on this process, we have developed a model that builds on the entrepreneurial leadership model proposed by four professors at Harvard Business School. The model consists of four activities: visioning, networking with purpose, collective sensemaking, and co-creating. Visioning – Visioning is creating a picture of what the future could be, of what is possible. It should be a different future from the one we are heading towards today if things stay the way they are. As described earlier, the future can hold various scenarios as the PESTEL trends converge and influence one another, and our hope is to inspire individuals in Peniche and beyond on how to rejuvenate coastal communities. Networking with a Purpose – Leadership is never a solo act, and in this project, we are continuously developing and strengthening partnerships and relationships with the local government, university, fishing associations, entrepreneurs, and businesses as well as with related industries and researchers in locations such as Sweden, Norway, and California. It has been extremely important to find ways to ensure bonding ties between and among the born locals and the new locals – the group of people who have now made Peniche their home, as well as bridging ties between the local networks and international networks. This has enabled us to build diverse networks of relationships throughout and beyond the ecosystem, all of which are critical to accessing talent, funding, trust, and other resources to ensure success. Collective Sensemaking – In addition, we have worked with the members of the team to not only develop a shared understanding of the vision but also to engage in a continuous practice of collective sensemaking. This involves developing a good understanding of the various stakeholders involved and their viewpoints as well as a collective process of sensemaking, sensegiving, and sensebreaking in which viewpoints are combined to create a joint sense of purpose.
  11. 11. September 2018 11 Co-creating – The various networks enable access to resources while collective sensemaking enables ideas to be exchanged. Through these interactions, we are constantly brainstorming and co-creating new structures and processes that are shifting the ways people think and work together to move toward the vision. 11. Conclusion At the end of the day, we hope that the POW Initiative helps raise awareness while at the same time triggers the entrepreneurial mindset and the development of new opportunities in Peniche and other coastal communities. Similar to what we have seen in the Norwegian maritime industry, we believe that the fishermen and the local workshops will become the entrepreneurs for new developments offshore, such as renewable ocean energy, marine farming, and marine mining. POW will inspire the fisherman, the divers, the university, the port and the shipyard of Peniche and beyond to see a new type of business being developed from a joint initiative cleaning the ocean seabed in the Peniche area. We hope that it will push the fishermen somehow outside of their box, utilizing their tools and equipment in new ways: using their sonars for locating litter and not sardines, using their winches to pull up waste from the seabed, and cleaning the coral reefs and preparing the harbor area as a breeding place. This will inspire and give room for more creativity. As an example, Sway by Inocean in Norway developed a technology back in 2001 for the harvesting of trapped wind resources far offshore. Today this technology is commercialized by Equinor Hywind offshore Scotland installing the first full scale floating ocean wind farm, each turbine producing energy for a community of around 5 000 households. The inventor of Sway, Eystein Borgen, gained his knowledge from his childhood by the sea on the West coast of Norway experimenting with toys in the ocean and later taking part in the windsurfing community of the world. In conclusion, our goal is to help the Peniche community to reskill itself and regain an entrepreneurial mindset towards the ocean. Enabling Peniche to become a hotspot for entrepreneurial activity and a leading authority in ocean innovation and blue circular economy, Peniche will be a global showroom, attracting talent, capital and other resources from abroad, thereby creating a vibrant center offering more and higher-skilled jobs. From there, we hope that this will create a more sustainable economic model leading to a rejuvenation of coastal communities and a restoration of community identity.
  12. 12. September 2018 12 12. The Team The Peniche Ocean Watch Initiators The seed for the POW initiative was planted during a 2018 summer internship for the Ocean Tech Hub by Karoline Teigland and Balder Habbersatad Borgen, under the guidance of Karoline’s mother, Robin Teigland, and Balder’s father, Jon Erik Borgen. Dr. Robin Teigland is currently Professor of Strategy and Digitalization at the Stockholm School of Economics, the leading business school in the Nordics as well as Professor of Management of Digitalization at Chalmers University of Technology, one of the top 10 engineering schools in the world in inter-disciplinary education. Robin has more than 20 years of experience within digitalization, entrepreneurship, startup ecosystems, and regional development. Jon Erik Borgen is an Ocean Engineer, co-founder of SWAY – a developer of floating wind tower technology, and the founder and CEO of Inocean AS - one of the leading naval architect and ocean engineering firms in the world with more than 20 years of experience and offices in Norway, Sweden, Poland, and Brazil. The Peniche Ocean Watch Team Aleksander Pappalardo Antonio Silva Thomas Skorpen Kevin Fernandes Louise Croneborg-Jones Anna Berry Gina Mareen Prasuhn Sergio Leandro Luis Santana Luis Cardoso Fernanda Torre Thomas Eckey Peter Larsson Trond Gunnar Teigland Karoline Teigland Balder Habberstad Borgen Rita Matias Arne Thienelaus Jorge Costa Tiago Ludovino Arne Thielenhaus Petrus Otto Wildschut, with the inspiring initials POW Sara Gärdegard, logo designer For more information, please contact the Ocean Tech Hub: Trond Gunnar Teigland, tgteigland94@gmail.com Robin Teigland, robin.teigland@hhs.se Jon Erik Borgen, jeb@inocean.no i The World Bank Group and UN DESA (2018). The Potential of the Blue Economy: Increasing Long-term Benefits of the Sustainable Use of Marine Resources for Small Island Developing States and Coastal Least Developed Countries. Available at: http://hdl.handle.net/10986/26843 ii Ibid.

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