The NEW Blue Economy

Marine Science and Data Analytics are two of the target industries in St. Petersburg (learn more at Grow Smarter).  These areas have always been intertwined but they are converging in deeper and unique ways under the NEW Blue Economy.  The NEW Blue Economy is “a knowledge-based economy, looking to the sea not just for extraction of material goods, but for data and information to address societal challenges and inspire their solutions” according to Dr. Richard Spinrad (EOS.org).  The traditional blue economy developed around tangible resources (e.g., food and fossil fuel production) and critical services (e.g., shipping, coastal tourism). Data was often nothing more than a supporting function.

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In the future, the role of data, information, and related disruptive technologies will be critical.  The ability to acquire, transform and interpret data will drive policies, sustainability efforts, new business ventures, and more.  The Innovation District is fortunate to have academics, government and private industry partners already embracing the NEW Blue Economy.  The potential is tremendous!  Stay tuned for future updates on how the District and its partners are making strategic plans to further the NEW Blue Economy

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From the SPID June 2022 Newsletter

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