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www.sea-technology.com October 2017 / st 47 sition to become a global hub for in- ternational shipping services. Given the evolving global landscape in ship finance, Ireland is becoming an attrac- tive destination for ship leasing, mari- time commerce and ancillary services, and there are key initiatives underway to fully harness this opportunity. Creating the correct environment and ecosystem for innovation is es- sential. Creating a multidisciplinary in- novation ecosystem with stakeholders from research, industry, government and civil society is critical for creat- ing the conditions for growth. Creating this ecosystem requires an integrated approach across government, and the most recent development in this regard is approval from the Interdepartmental Marine Coordination Group for the launch of a Marine Development Team established January 2017 to operation- alize the business development and enterprise ambitions of the HOOW strategy. This team is based at the Irish Maritime Development Office. An an- nual Our Ocean Wealth Summit and maritime festival has also been put in place to bring national and interna- tional stakeholders from a number of diverse marine sectors together at the end of June each year. In 2017, this attracted more than 800 attendees to business events and more than 100,000 people to the SeaFest maritime festival in Galway, making it one of the largest maritime festivals in Europe. The Organisation for Economic Co- operation and Development estimates that with a business-as-usual approach the global ocean economy will double by 2030. This is not surprising, given that the answer to many of the grand global challenges lies in the ocean. Scientific and technological advances will play a crucial role in the further development of ocean-based econom- ic activities, while addressing ocean- related environmental challenges. Ireland wants to support where we can in developing and building proj- ects that support Irish companies in expanding their reach and assist inter- national companies in accessing the world-leading technology expertise and innovation that is available in the Irish ecosystem. ST of GDP, with recent figures suggesting that HOOW is moving steadily toward its target of 2.4 percent by 2030. According to the 2017 report on Ire- land's ocean economy, established ma- rine industries represented 93 percent of the total turnover in 2016. In these industries, the largest increase in activ- ity from previous figures was evident in oil and gas, marine aquaculture and marine tourism and leisure, and these sectors present a wealth of opportuni- ties for further growth in the not too distant future. It is also clear that the emerging marine sectors are excelling in growth and offer significant poten- tial in marine technology products and services, maritime commerce, marine biotechnology and marine renewable energy. Ireland already excels in ICT (infor- mation and communication technol- ogy), and a Digital Ocean initiative seeks to build opportunities to apply this in new ways as companies in- novate into the future to drive growth in established and emerging sectors of the global marine economy. The marine technology sector had a 74 percent increase in turnover between 2014 and 2016. Our existing ICT clus- ter is driving innovation in Internet of Things (IoT) technologies, which, when combined with our marine ex- pertise and resources, creates the per- fect storm for driving innovation in IoT for the sea. One key project focuses on smart ports, where we are work- ing with world-class research centers of excellence and industry in the areas of data analytics, sensors, software and communication networks. Other areas of opportunity for Ire- land include technologies to drive the growth and advancement of offshore wind, wave and tidal energy. Ireland has some of the best wind and wave resources, and when combined with our test and development infrastruc- ture and engineering expertise, it pro- vides a compelling value proposition for companies with key interests in this domain. The most recent figures from SEMRU indicate an increase of 119 percent in turnover for this sector. Additionally, Ireland is progres- sively strengthening its value propo- Dr. Edel O'Connor is the business develop- ment manager for the Irish Maritime Devel- opment Office at the Marine Institute. She has led the strategic development of the national marine technology program and SmartOcean initiative to "marinize" Ire- land's strengths across ICT and engineering into new areas of the blue economy and led the development of international partner- ships across research and industry. S trategically situated on the western edge of Europe along the European Atlantic Seaboard, Ireland's coastal and offshore waters contain a wealth of assets, including some of the larg- est and most valuable sea fisheries resources in Europe; one of the most valuable sources of offshore renewable energy in the world; and waters that of- fer a spectacular range of biodiversity. Ireland has a coastline of 7,500 km, and these waters are also the western gateway for shipping to Europe's busi- est seaports; are an ideal location for offshore aquaculture; contain signifi- cant oil and gas resource potential; and are the backdrop to fascinating coastlines that are driving the coastal tourism market. However, in comparison to other maritime nations, Ireland's marine sec- tor has historically underperformed in terms of contribution to GDP. Recog- nizing the need for a step-change in our ability as a nation to harness our ocean wealth, the Irish government launched an Integrated Marine Plan for Ireland, the "Harnessing Our Ocean Wealth (HOOW) Strategy" in 2012. It is being driven from the highest levels of gov- ernment and represents a unique and integrated approach for growing our blue economy. This has been a game- changer, with the sector now outper- forming growth in the general Irish economy, according to the Socio Eco- nomic Marine Research Unit (SEMRU) at NUI Galway. While growth in the general economy was approximately 8 percent from 2012 to 2014, growth in the ocean economy was 19 percent for the same period. The ocean econ- omy currently represents 0.9 percent soap box Opportunities for Maritime Companies in Ireland—Dr. Edel O'Connor