A regional seminar on entrepreneurship and green and blue financing was held in La Réunion, opening a dialogue between public and private sector stakeholders from the member states of the Indian Ocean Commission (IOC). This meeting was organized by the IOC, the Région Réunion through the Maison de l’Export, and Cap Business Indian Ocean, as part of the Entrepreneurship and Business Facilitation in the Indian Ocean Program (ENFA-OI). The ENFA-OI program is implemented by the IOC with funding from the European Union.

Public-Private Synergy for Entrepreneurial Support

What synergy of action between the public and private sectors can ensure better support for regional entrepreneurs? This was the central question of the discussions among participants from the Comoros, France, Madagascar, Mauritius, and the Seychelles. Despite a shared willingness from both sectors to improve the local economic landscape, discussions highlighted gaps in support for micro, small, and medium-sized enterprises (MSMEs) and regional start-ups, particularly in terms of access to information, guidance, and financing.

This gathering of stakeholders at the seminar paved the way for strategic collaboration aimed at boosting the regional entrepreneurial ecosystem.

“The objective is to capitalize on the potential of each operator in the program’s priority sectors—tourism, seafood products, and cosmetic and medicinal plants—while placing special emphasis on women and young entrepreneurs,” emphasized Juliette Janin, Mission Officer at the IOC Secretariat.

Key Takeaways and Recommendations

This exchange facilitated the sharing of expertise between the public sector, which holds in-depth knowledge of regulations and policies, and the private sector, which contributes practical business management experience. Among the recommendations made by participants, we can highlight:

  • More regular discussions and new partnerships between the public and private sectors at a regional level, within a structured consultation framework consisting of two key groups (public/private).
  • Identification, centralization, and sharing of best practices from each territory, along with appropriate and practical training for start-ups and MSMEs led primarily by young people and women.
  • Promotion and capacity building for businesses in the tourism, seafood products, and cosmetic and medicinal plants sectors.
  • Adoption of a 2024 regional training plan as part of the implementation of the ENFA-OI program.
  • Simplified and facilitated mobility between Indian Ocean islands.

The ENFA-OI program, Maison de l’Export, and Cap Business Indian Ocean reaffirmed their commitment to supporting and strengthening the regional entrepreneurial ecosystem, particularly through tailored training programs co-designed with stakeholders, scheduled to start in 2024, as well as by organizing further public-private dialogue sessions and working groups.