Conclusion
OIC supports the International Union for the Conservation of Nature’s SEA Success project, which connects St. Martin’s islanders with hand-picked international experts from Thailand, Malaysia and Cabo Verde to build their expertise on topics such as turtle habitats and coral reef conservation and restoration.
The Cabo Verde project has achieved significant impacts which St Martin hopes to emulate–the West African project benefits 12,000 inhabitants and has avoided the emission of about 69,000 tons of carbon dioxide. The project aims to prevent 930,000 tons of CO2 emissions over the next 20 years.
“These sites face diverse challenges that require tailored solutions to maintain the health and productivity of the ocean and enable sustainable use of their marine resources” says IUCN’s Marie Fischborn.
The initiative, alongside a sister project in Thailand, continues and there is the prospect of scaling up to other countries.
“OIC shows that providing a wrap-around package of mentoring, communications and promotion support, and access to capital greatly increases the impact of any funds we provide.” says Maria Vink, senior program specialist, Water Security at Sida.
“And the support need not be only top-down–OIC arranges innovator-to-innovator peer mentoring, and we’re looking forward to the growth of the OIC Alumni Group where innovators support each other, cross-fertilizing experience from one initiative to another. We are positive about UNDP continuing to develop the concept of challenge funds, as a means to mobilise private resources, based on the learning from this experience.”
Innovators from the early cohorts of OIC have already brought in external funding to continue their work. OIC also supports entrepreneurship in the private sector and the local economy through a tailored mentoring strategy to connect innovators with the necessary capital to support their projects.
This helps them identify and apply for grants, develop compelling pitch decks and elevator pitches, and source strategic investors and partners.
“We are wrong to think people have to be well-educated and from developed countries to know how to solve problems. Smart people are all over the world, regardless of their background.” says Matthews.
“Our approach would work to incubate innovation on virtually anything anywhere. It democratizes development and opens the door to fresh ideas and optimism from smart innovators everywhere.”
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