Partnered with Incutex

Overview

A partnership to activate the blue economy through institutions

In collaboration with the Inter-American Development Bank and in partnership with Incutex, a consulting project was carried out with the Institute of Marine Affairs to strengthen its role within the Caribbean blue economy innovation ecosystem.

The initiative combined strategy, analysis, and capability building, supporting the institution’s evolution into a key player in fostering startups and innovation.

The challenge

Strengthening institutional roles in a growing ecosystem

IMA faced the challenge of enhancing its ability to support innovation in the blue economy, within a regional context shaped by multiple stakeholders and evolving opportunities.

This required:

• Defining a clear institutional strategy

• Aligning internal capabilities with strategic goals

• Understanding the regional entrepreneurial and regulatory ecosystem

• Strengthening its role as an innovation enabler

The key challenge was to bridge strategic vision with operational capability.

The solution

Strategy design combined with capability building

The engagement addressed two main objectives:

Strategic design
Development of an Institutional Strategy and a Sustainability Action Plan to strengthen IMA’s role in supporting startups and innovative companies.

Capability building
Enhancing internal capabilities to effectively implement the defined strategy.

To achieve this, multiple activities were conducted:

• Stakeholder interviews and focus groups

• Desk research and comparative database development

• Assessment of the existing institutional strategy

• SWOT and contextual analysis

• Ecosystem mapping (including PESTLE analysis)

• Institutional gap analysis (McKinsey 7S framework)

• Regulatory and legislative review with improvement proposals

• CANVAS development for nonprofit models

• Identification of funding strategies and partnerships

• Design and validation workshops

• Implementation of training sessions

Impact

From strategy to execution in the public sector

The project laid the groundwork for IMA to evolve as a strategic actor within the blue economy ecosystem.

Key outcomes include:

• A clear and context-aligned institutional strategy

• A deeper understanding of the regional innovation ecosystem

• Identification of funding and partnership opportunities

• Strengthened internal capabilities for execution

• Enhanced role as an innovation enabler

This initiative enables a more active and sustainable role in advancing the blue economy across the Caribbean.