2. Sargassum Investment Fund Case Study: Blue Natural Financing Facility

A sargassum investment fund should be established to further the work of the researchers’ exploring solutions to scalable uses for sargassum. To implement a fund, a collaboration with RT Park, the USVI Economic Development Authority, the USVI’s Small Business Development Center, and other impact funds that focus on the blue economy should be involved. In doing so would attract talent interested in studying marine life to further their research and possibly create businesses that address challenges elsewhere. This could create an economic clustering effect that could attract companies in the blue economy to move and invest in St. Croix directly or indirectly.

The Blue Natural Financing Facility is a program through Blue Natural Capital, an organization that builds business cases for marine life-based solutions, to attract private capital and make usable products.24

3. Host Sarg’Expo

Through a newly formed research consortium St. Croix should host Sarg’Expo. This will provide an opportunity for all researchers, businesses, and organizations to meet and collaborate on new developments related to sargassum. The USVI department of tourism could market and sponsor this event which has the potential to bring more tourists to St. Croix but it could also be an opportunity to attract tourists to make regular visits and therefore grow the local economy.