Overview
This project aimed to identify potential innovation pathways and assess the commercial feasibility for improving returns (defined as sustainable resource management, maximum catch utilisation and increased retention of value) to the Pacific Island countries (PICs) tuna sector and PIC economies more broadly, particularly small fishers, small to medium-sized fishing businesses and their communities.
A gap remains with respect to the type of research required by commercial stakeholders, highlighting compelling commercial opportunities for investment in the tuna sector. This project analysed commercial initiatives, identifying and seeking to address systemic barriers to commercialisation as well as critical success factors thematic to successful ventures. For example, high costs of production (water, electricity, logistics, etc.), lack of cold storage facilities and access to finance are known barriers to commercialisation that impact most, if not all, commercial initiatives that are attempted in the future.
Tuna is a key driver of the region’s economic growth and coordinated efforts are already underway to maximise returns while ensuring tuna stocks are managed sustainably, taking into consideration social, economic and environmental factors. The type of research required as proposed under this project is a precursor to development projects and/or commercial ventures, with the overarching intent of addressing systemic barriers and focusing resources on the most promising opportunities.
To improve the likelihood of commercial uptake post-conclusion of this project, the analysis would be grounded in economic data with recommendations structured as pre-feasibility studies and the private sector engaged throughout the project activities, along with government, research institutions, and non-government organisations.
