Many are wondering what exactly is the purpose and plan for the Ocean Supercluster.
Let me try to shed some light on this transformative concept which, when successful, will have a profound impact not only on the economy of Newfoundland and Labrador, but on the rest of Atlantic Canada.
As you know, the ocean has had a significant impact on Newfoundland and Labrador. The abundance of fish off our shores is what initially lead to our settlement and the subsequent discovery of oil under its floor continues to have a major economic impact.
The potential for Canada to derive more sustainable benefits from its ocean resources is significant. Look at Norway for example; with a population of just over 5 million people, it boasts an ocean economy nearly seven times the size of Canada’s, and a 50 per cent higher GDP per capita. There are some serious opportunities here for us.
Our strategic North Atlantic location is enviable, from the ice-filled waters of the Grand Banks to the Labrador current, and from the mighty tides of the Bay of Fundy to the waters of Nova Scotia warmed by the gulf stream. We have a great laboratory just outside our doorstep to experiment with concepts and refine them until they are commercially viable.
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Wouldn’t it be awesome if we could regularly connect the innovators and the operators to discuss their pain points and share solutions?
Wouldn’t it be amazing if technology used to assist the mooring of floating oil platforms could be used to assist with securing nets in the aquaculture industry?
We have developed innovative solutions to mitigate and solve challenges in and on the seas, like monitoring ocean temperature and swells, oil spills and the migration of fish. Much of this work has been done in isolation within the silo of the specific problem it was meant to solve or within a certain industry sector.
One of the foundations of building an innovative eco-system is to facilitate collaboration in an effort to get creative solutions flowing. A perfect example of this is Silicon Valley, whose success stems from encouraging circumstances, including a large pool of highly educated workers; access to plentiful venture capital; and a highly entrepreneurial, risk-taking culture. To be successful, we need to replicate this here in Atlantic Canada.
A recent article in Scientific America elaborated on the secret sauce for success in Silicon Valley. What they discovered is that there is a special trait that distinguishes Silicon Valley’s firms from ordinary companies: the ability to integrate their innovation strategies with their business strategies. That one trait can make the difference between success and mediocrity.
The Scientific America research goes on to identify three basic innovation strategies:
• “need seekers,” companies that focus on discerning their users’ actual needs, both spoken and unspoken; figuring out how to meet those needs; and then getting the necessary product or service to market as fast as possible.
• “technology drivers” who take their direction from their engineering departments, rather than from their customers, and
• “market readers” who rely on an incremental, fast-follower development approach.
This information further reinforces the importance for the Ocean Supercluster to be privately led.
Why? Well first off it is the private sector that is hungry and has the drive. It is the private sector who has “the need seekers,” the “technology drivers” and the “market readers.”
It is the private sector that has the capital and takes the risk. It is the private sector that creates wealth, commercializes ideas, and creates jobs. Academia’s strengths lie in research and discernment. Governments’ role is regulatory, administrative, and to create the right environment for investment.
The goal of the supercluster is to grow the oceans sector by $10 billion by 2030. This money will largely mean more jobs for Atlantic Canadians and a reliable sustainable sector.
For far too long, we have operated in silos. This is a luxury we can no longer afford. The Supercluster offers the opportunity for industries to talk to each other and for academia to broaden its circles.
Canada’s Ocean Supercluster is to be co-based between Newfoundland and Labrador and Nova Scotia. Both communities bring assets, talents and investments. Our knowledge about the oceans gives us a competitive advantage. We have an incredible critical mass, research centres, and companies that are innovators. We need to dream it, develop a plan and work it together.
We need bold, courageous leadership. We need business-led collaborations that aim to turn innovative ideas into powerful engines of the economy. In today’s knowledge-based economy, collaboration is essential. Allowing all these pieces to talk to each other in a meaningful way and work together on meaningful solutions.
The St. John’s Board of Trade pledges to be a catalyst for collaboration, I invite you to get engaged and come along for the ride.
Andrea Stack is chair of the St. John’s Board of Trade.
