Unlocking the Value of Fresh Water: Lilypad's Mission in the Great Lakes Blue Economy
The Value of Fresh Water
While Michigan is home to more freshwater shoreline than any other state in the U.S., it has over 11,000 inland lakes, tens of thousands of miles of rivers and streams, and several thousand miles of water trails. At Lilypad, we strongly believe fresh water ecosystem services and experiences are significantly undervalued by conventional economic measures and currently lack mass market access.
Lilypad was founded upon values of fresh water and the blue economy. As a solar boat manufacturer, our mission is to solve the limitations of current consumer access and experience issues, while simultaneously ensuring the long-term health and productivity of our freshwater ecosystem.
The Great Lakes Region holds over 23% of the world’s fresh water and supports a $6 trillion regional economy. The Great Lakes Blue Economy is fundamental to shipping, transportation, fisheries, and agriculture, plus numerous critical industries along with tourism and recreation. The tourism industry alone in Michigan is a $50 billion-dollar business.
The State of Michigan, and specifically the Traverse City area, have made significant investments and efforts to lead in the development of the Great Lakes Blue Economy. This encompasses various investments in assets and infrastructure aimed at fostering innovation within the Great Lakes Blue Economy, such as dedicated incubators and technology deployment facilities.
Lilypad is proud to be a participant within this ecosystem. We applaud this effort and feel the Blue Economy is, and remains, significantly undervalued.