Creating Uncontested Market Space

The Island Network applies Blue Ocean Strategy principles to create new markets rather than competing in existing saturated ones. Our approach centers on identifying untapped opportunities for island economies that leverage their unique geographical, cultural, and regulatory advantages.

Instead of competing within the constraints of current market boundaries, we aim to reshape them, creating demand rather than fighting over it. This approach is particularly relevant for islands seeking to establish themselves as hubs for innovation and economic activity.

Key Strategic Principles

• Eliminate: Remove factors that traditional jurisdictions compete on but that offer little value in the new economy.
• Reduce: Minimize regulatory complexity and barriers that exceed industry standards without adding proportional value.
• Raise: Enhance elements that create distinct value propositions for entrepreneurs, digital nomads, and investors.
• Create: Develop entirely new offerings that mainstream jurisdictions don't provide, such as specialized regulatory frameworks for emerging technologies.

Application to Island Ecosystems

Islands have inherent advantages when implementing Blue Ocean strategies:

1. Regulatory Agility: Smaller jurisdictions can adapt regulations more quickly to accommodate emerging industries like blockchain, biotechnology, and renewable energy.
2. Natural Laboratory: Islands can function as contained ecosystems for testing innovative solutions to global challenges.
3. Distinct Identity: Islands can cultivate unique place-based brands that differentiate them in the global marketplace.
4. Community Cohesion: Tighter social networks can facilitate faster adoption of new systems and approaches.

Current Blue Ocean Initiatives

Several Island Network members, allies and partners are already implementing Blue Ocean strategies:

• Regulatory Sandboxes: Creating safe spaces for testing financial technologies, digital currencies, and new governance models. Check out Prospera ZEDE, Floripa DEZ and DAZ built by our friends at the Tools for the Commons!
• Digital Nomad Programs: Developing specialized visa programs and infrastructure for location-independent professionals.
• Tokenized Natural Capital: Pioneering markets for ecosystem services and biodiversity conservation.
• Web3 Governance Models: Implementing decentralized decision-making frameworks for community resource management.