JAKARTA, 19 February 2025 – The ASEAN Blue Innovation Expo and Business Matching officially opened today in Jakarta, inaugurated by the Deputy Secretary-General of ASEAN for ASEAN Economic Community, Ambassador of Japan to ASEAN and Resident Representative of UNDP Indonesia. Attended by more than 600 participants, including innovators from the region, investors, industry leaders, and policymakers from ASEAN and Timor-Leste, this landmark event underscores the joint commitment of ASEAN, Japan, and UNDP to fostering a sustainable, resilient, and inclusive blue economy.
As part of the ASEAN Blue Economy Innovation project, funded by the Government of Japan and implemented by UNDP out of its office in Jakarta, and working under the ASEAN Coordinating Committee on Micro, Small, and Medium Enterprises, the Expo and Business Matching event provides a strategic platform for investment in the region’s rapidly growing blue economy sector.
The event showcases 60 winners of the ASEAN Blue Innovation Challenge (ABIC), a competition held under the ASEAN Blue Economy Innovation project. These winners, representing the ten ASEAN countries and Timor-Leste, were selected from over 1,300 applicants who proposed innovative solutions to advance the blue economy. These solutions include an AI technology that detects fish-killing diseases, saving fish farmers from significant losses; deep-sea seaweed cultivation promoting food security, income generation, and carbon sequestration; as well as technologies converting plastics from ocean and rivers into fuels, among many others.
“According to the World Economic Forum, developing a sustainable blue economy in the ocean could generate a net economic benefit exceeding $15 trillion, accounting for approximately 15% of global GDP. Looking into our region, the blue economy holds significant importance to ASEAN, given the region’s strategic location with more than 66% of the region’s total area covered by oceans and seas. This underscores the need for ASEAN to harness the blue economy’s potential responsibly, ensuring that economic gains are balanced with environmental stewardship and social equity,” said Satvinder Singh, Deputy Secretary-General for the ASEAN Economic Community. “Recognising the potential of the blue economy and how it is going to shape the economic landscape of ASEAN, the ASEAN Blue Economy Innovation initiative was implemented in a timely manner, allowing us to identify and recognise the many talents within ASEAN that will contribute to blue conservation and advancement for the region,” he added.
The blue economy is a strategic priority for ASEAN, playing a crucial role in advancing food security, economic resilience, and environmental sustainability in the region. Aligned with the ASEAN Blue Economy Framework adopted in 2023, the ASEAN Blue Economy Innovation project emphasises the sustainable use of ocean and freshwater resources to drive economic growth while safeguarding ecosystems. The Expo and Business Matching event aims to further leverage and promote innovations to achieve these goals.
With an increasing focus on sustainable investments, the Expo has attracted investors from the region and Japan, seeking high-impact ventures that align with environmental sustainability and economic growth. By connecting entrepreneurs with investors, business partners, and policymakers, the event facilitates financing opportunities and strategic collaborations to scale innovative solutions that support sustainable development across ASEAN.
“In 2023, it marked the 50th year of ASEAN-Japan friendship and cooperation, and we have formulated the ASEAN-Japan Economic Co-creation Vision. One of the four pillars is ‘Promoting Open Innovation beyond Borders’. This year, Japan will continue addressing the critical challenge in the field of blue economy and finance in ASEAN countries and Timor Leste,” said H.E. Mr. KIYA Masahiko, Ambassador of Japan to ASEAN, underscoring Japan’s dedication to fostering ASEAN-led innovation. “This event is not only a platform to showcase cutting-edge solutions but also an opportunity to forge new partnerships and drive forward the collective impact of innovation. We hope that our efforts will be scaled up through the cooperation with the Japanese private sector,” he added.
A key highlight of the event was the pitch-fest, where the 60 innovators presented their forward-thinking solutions across three critical streams: sustainable fishery, blue tourism, plastic pollution, and climate issues. The event also featured Business Matching and Networking sessions, providing a platform for innovators to connect with potential investors, industry leaders, and policymakers to explore funding opportunities, market expansion, and regulatory support. Additionally, the exhibition of ABIC Winners’ Innovation Showcases demonstrated cutting-edge technologies, products, and prototypes aimed at addressing sustainability challenges in marine and coastal sectors.
“Today, we are joined by the best of these applicants – The 60 winners, 27 of them led by women, who received financial and technical support from UNDP over the past 6 months. I do wish to express my deepest gratitude once again to ASEAN and its Secretariat and the Government of Japan for their generous support and leadership. As we navigate challenges and explore opportunities, let us stay committed to a sustainable, inclusive, and prosperous future – where all people in ASEAN and beyond can realise the futures they want,” said Norimasa Shimomura, Resident Representative of UNDP Indonesia.
Launched in May 2024 at the ASEAN Secretariat, the ASEAN Blue Economy Innovation project is designed to drive sustainable economic transformation across ASEAN and Timor-Leste. Expected to benefit thousands of communities in the region, the initiative will create new opportunities for local economies, enhance resilience to environmental challenges, and improve livelihoods, particularly for those dependent on marine and coastal ecosystems. For more details about the ASEAN Blue Innovation Challenge and investment opportunities, visit: https://www.undp.org/indonesia/asean-blue-innovation-challenge
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Image Credit: United Nations Development Programme Indonesia
