Sea of opportunities: unravelling the impact of cluster-based blue entrepreneurship and blue technology penetration on seaweed export propensity

Abstract

Seaweed export from Bangladesh holds significant potential for economic growth and export diversification. Cluster-based blue entrepreneurship emerges as a promising strategy to bolster seaweed exports. This study explores the determinants of seaweed export propensity in Bangladesh, drawing on data from a survey of 233 seaweed farmers using non-probability snowball sampling. The collected data were analysed using partial least square structural equation modelling (PLS-SEM) due to the complex nature of the research model. Key factors examined include cluster-based blue entrepreneurship, blue technology penetration, institutional assistance, mimetic pressure, and institutional voids. The findings indicate that cluster-based blue entrepreneurship positively influences export propensity. However, the study does not find substantial support for the relationship between cluster-based blue entrepreneurship and blue technology penetration. Notably, institutional assistance, mimetic pressure, and institutional voids play pivotal roles in moderating the impact of blue technology penetration on export propensity. Moreover, the study underscores the beneficial impact of blue technology penetration on export propensity and identifies institutional voids as critical moderators. It highlights the necessity for supportive institutional frameworks to foster cluster-based blue entrepreneurship and enhance export potential. These insights are crucial for policymakers, industry stakeholders, and practitioners aiming to formulate strategies for sustainable growth in Bangladesh’s seaweed farming sector. It advocates for targeted policy interventions that strengthen institutional support, mitigate mimetic pressures, and address voids to enhance the industry’s competitiveness and export potential. These insights offer practical implications for policymakers, industry stakeholders, and practitioners aiming to foster resilient and inclusive economic development in emerging marine resource sectors.