Fostering innovation in the blue economy within the United Kingdom (UK): A stakeholders’ perspective

In a 2019 European Commission report, the Blue Economy (BE) within the United Kingdom (UK) represented 22% of the European Union's (EU) BE Gross Value Added (GVA) at approximately €39 billion. Coupled with the clear value of the BE to the UK, there is an urgent need to innovate and develop technologies to decarbonise and advance the sector. A deeper understanding of the current position for multiple stakeholders must be considered before any major governmental or long-term strategy decisions can be made. This paper presents the perspective of academic, industrial and governmental stakeholders analysis of how the UK can move forward with developing innovations within the BE. Utilising a questionnaire and round table discussions, specialists from all stakeholders gave their opinions on industry-academia-governmental working relationships and technology transfer readiness. Reasonably high satisfaction was found with key aspects that enable a successful collaborative project between academia and industry towards technology commercialisation; however, there is still room for improvement. This paper offers an analysis of how to further enhance and foster technology development within the UK BE. A collaborative approach is proposed to ensure best practices, and a ‘triple helix’ (TH) collaboration strategy to be used as a tool for those engaging in these types of working relationships. Future directions on enhancing technology transfer innovation within the UK BE are also suggested.