Just a few years ago, it was taboo to buy farmed fish, but now, experts are saying aquaculture might actually be the only way to ensure sustainable seafood consumption. The key to this apparent paradox is in finding something sustainable to feed all those farmed fish.
This year's Fish 2.0 competition has attracted 161 competitors who demonstrate significant growth in wild fisheries and supply chain innovation, Fish 2.0 organizers said in a release.
This year’s competition criteria is focused heavily on wild fisheries and supply chain innovation in most geographies, with aquaculture innovations highlighted mainly in Southeast Asia and on the Gulf and Atlantic Coasts of the US.
Sustainable seafood business competition attracts outstanding ventures, with strong representation from Latin America, Southeast Asia, and Pacific Islands
The 161 competitors in the third Fish 2.0 business competition for sustainable seafood are a diverse group of global, innovative businesses, and they demonstrate significant growth in wild fisheries and supply chain innovation.
This year’s competition criteria is focused heavily on wild fisheries and supply chain innovation in most geographies, with aquaculture innovations highlighted mainly in Southeast Asia and on the Gulf and Atlantic Coasts of the U.S. The businesses promise a range of solutions to challenges throughout the sustainable seafood sector, with business models adapted to different contexts and seafood species, and experienced management teams.
Imagine a fish robot that mimics the movements of real fish while monitoring the pH level of an aquaculture farm and warding off predators.
That’s the type of machine that Aquaai, a Delaware-registered C corporation, is commercializing. The company has developed five prototypes for its new bio-inspired vehicles and is in the process of pitching its idea to major investors and potential customers in preparation for a round of seed funding, or potentially a series A funding round, this fall.
“Everyone’s amazed that you can make a system that looks and swims like a real fish,” Liane Thompson, co-CEO of Aquaai, told Undercurrent News.
Entrepreneurial interest in sustainable seafood is rising globally, as are the opportunities to succeed with new products and business models. The trend is clear in applications to the Fish 2.0 competition for sustainable seafood businesses: In 2013, 70 percent of Fish 2.0 applicants were from North America—and we wondered if we could persuade a significant number of entrepreneurs from areas such as the South Pacific Islands and Thailand to enter a North American business competition held in English on the Internet. We had our answer in 2015: only about half the entries were from North America, with about one-third coming from Asia and the Pacific Islands.
The business competition Fish 2.0, now in its third installment, is evolving into a nexus of communication that is helping fight fragmentation in the seafood industry, according to its founding director Monica Jain.
Held every two years after an inaugural 2013 edition, Fish 2.0 is an open call for entrepreneurs and business owners in the seafood industry to propose their projects and get feedback from investors and industry professionals, as well as possible financial backing.
The four-phase competition pares the proposals it receives down to a group of finalists that present at Stanford University to a room full of investors, consultants and other businesses owners.
It’s getting competitive to hob-nob with seafood startups and industry innovators.
They're increasingly stealing the spotlight from the day-to-day quota and price concerns as big seafood production questions loom. Perhaps most pressing: an added 27 million metric tons of aquaculture production is needed to maintain the present level of per capita fish consumption in 2030, according to the United Nations Food and Agriculture Organization (FAO).
Enter Fish 2.0 founder Monica Jain, who began her international seafood business innovation competition Fish 2.0 in 2013. Since then, participation and interest has exploded.
Consumers who would never buy something generically labeled meat or cheese are often stuck at almost that level of information when it comes to seafood. The opaque origins and processing of many seafood products can hide a host of problems, including species fraud, illegal fishing, human rights abuses in the labor force, and pollution—as well as the resource depletion that accompanies these issues. A 2014 report in Marine Policy estimates that over 20 percent of wild-captured seafood imported into the U.S. comes from illegal fisheries.
But this is quickly changing, as an increasing number of innovators in the seafood industry create new ways of making the system more transparent and seafood products and processes more traceable.
Pensacola Bay Oyster Co. won the top prize winner at this year's Innovation Awards.
"It feels fantastic," said Donnie McMahon, president and co-founder of the company. "It really does. It was an honor to be selected and a great honor to move the company ahead in what we're trying to do in Northwest Florida."
The Innovation Awards, held this week at the Hilton Pensacola Beach hotel, are a competition that serves as a funding opportunity similar to the TV show "Shark Tank." Divided into four business categories — post-revenue, pre-revenue, veteran and student — 61 startup companies applied to this year’s competition. Judges whittled down the applicants to the best three in each category, and those companies presented their business plans Thursday.
The East Coast was literally built on oysters. At the peak of their production as a food source, these shellfish were so plentiful from the Gulf Coast to New England that discarded shells were crushed and used to pave roads. Oysters kept bays and waterways clean—Chesapeake Bay residents didn’t need to treat or filter their water. A 1913 National Geographic article proclaimed them “the world’s most valuable water crop,” cultivated as a year-round, dependable and inexpensive protein source. About 150,000 people in 35 countries worked to produce “the most popular and most extensively eaten of all shellfish.”
The situation more than a century later is quite different. Oysters remain desirable, but populations have been decimated. The Gulf of Mexico has just 10 percent of its peak oyster population, and Chesapeake Bay is down to a mere 1 percent. The situation has been described as dire by many locals, who’ve seen dredging, overharvesting and disease destroy oyster habitats.
Encouraging collaboration between scientists and business has always been a prime mission at the MARBIONC Center. We were pleased to recently host an event aimed specifically at small start-ups in the seafood and aquaculture industries, which of course ties in directly with our marine science research.
The Fish 2.0 organization’s first regional workshop in the southeastern United States was held here, on our CREST Research Park campus, March 15 through 17. Nearly two dozen fledgling enterprises from a 12-state region attended, making connections and gaining skills needed to attract investors and grow their businesses.
Entrepreneurs with shellfish-related ventures in the 12-state Southeastern U.S. region have until April 29 to apply for a competition intended to give winners a toehold in the sustainable seafood market.
Fish 2.0, founded by executive director Monica Jain, uses a competition platform to connect seafood innovators, investors and industry experts so that promising ventures can find funding and knowledge resources.
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Indonesia has made progress in its fight against illegal, unreported and unregulated fishing (IUU) practices in its waters in the last three years, but it still has work to do, according to Her Excellency Minister of Maritime Affairs and Fisheries of Indonesia, Susi Pudjiastuti.
At the sixth European Tuna Conference in Brussels, held on the eve of Seafood Expo Global, Pudjiastuti shared her experiences of attempting to get the Indonesian seafood industry back on track after decades of mismanagement, in which overfishing by foreign vessels, including many illegal operators, had pushed its fisheries to the brink of collapse.
IT'S that time of the year again when entrepreneurs from the seafood industry can gain further investment for their companies through the Fish 2.0.
The Fish 2.0 is a sustainable seafood business competition supported by the Pacific Trade and Invest Australia.
Undercurrent News: Fish 2.0 2017 competition opens West Coast track with investment event in Seattle
Fish 2.0: Fish 2.0 2017 Competition Opens West Coast Track with Investment Event in Seattle
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UNCW News: CREST Campus, MARBIONC to Host “Fish 2.0” Workshop Promoting Sustainable Seafood
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NC IDEA: NC IDEA Foundation Awards Ecosystem Partner Grant to Marine Bio- Technologies Center of Innovation
WilmingtonBiz: UNCW Announces Shellfish Workshop, Initiative For Businesses
Fish 2.0, the global competition and network for sustainable seafood businesses, is kicking off its new West Coast track April 4 with a free daylong workshop and networking reception in Seattle, the event organizers said in a release.
The competition is "focused on engaging investors, sparking relationships among entrepreneurs, and building connections within the region’s seafood industry", the release said.
The workshop, open to seafood entrepreneurs from the West Coast and Alaska, provides coaching on how to communicate persuasively with investors and seafood buyers.
[Click here for the full article]
Oysters, crab, shrimp, lobster and scallops were on the menu at this week’s Fish 2.0 South Atlantic & Gulf Coast Shellfish Workshop, hosted by University of North Carolina Wilmington at the university’s MARBIONC facility.
Fish 2.0, founded by executive director Monica Jain, uses a competition platform to connect seafood innovators, investors and industry experts so that promising ventures could find funding and knowledge resources.
[Click here for the full article]
April 4 workshop and reception for Alaska, California, Oregon and Washington seafood businesses focuses on building networks and sparking interest from investors and buyers
The intensive workshop, open to seafood entrepreneurs from the West Coast and Alaska, provides coaching on how to communicate persuasively with investors and seafood buyers. It also gives participants opportunities to meaningfully connect with other innovative seafood businesses that could be key partners. To attend, entrepreneurs must register online and be invited.
The Geomar acquisition is only the beginning of seafood investments the Walton family-backed holding company Pescador Holdings has its eye on.
The investors behind the deal view this as a beginning step in the execution of core firm goals, and they have the backing to execute them; a link to one of the wealthiest families in the world.