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Working on a new low-cost wind-powered aeration system.

Five Aquaculture Innovations Reach Final Round

  (NETHERLANDS, 6/27/2017)

Seafood Trade Intelligence Portal (STIP), Solidaridad and Fresh Studio, hosts of the Aquaculture Innovation Challenge, invited the top five innovations to move forward to the final round. These innovation proposals will advance to the AIC boot camp, where they will get hands-on assistance with developing their business models and perfecting their pitches. Coaches from the fields of business, finance, science and civil society will be on site to provide professional guidance.

The qualifying innovations

The judges scored the proposals based on their explanation of the targeted problem, solution and impact of their innovation. Other relevant criteria included the market competitor analysis, business model, financial model, activity plan and needs identification.

The following innovations will be improved and perfected during the pitching event:

Entobel

Entobel focuses on creating a more sustainable source of fish feed using insect protein in a safe and efficient way, and at a competitive price. Insects fed with the by-products of the local food industry give farmers access to fish feed at a stable market price while reducing waste products, contributing to the circular economy.

Insect rearing and processing is the core activity of Entobel. (Photo: Dutch Business Association Vietnam)

Green Solutions

Green Solution has produced a Natural Antioxidant Preservative (NAP), extracted from avocado seeds, that can replace current commercial additives (sodium metabisulfite, sulfur dioxide and other such chemicals) used to preserve shrimps. NAPs are environmentally friendly, safe and have the ability to keep shrimp fresher for longer than the current commercial additive (sodium metabilsulfite).

Green Solution has produced a Natural Antioxidant Preservative, extracted from avocado seeds. (Photo: Muhammad Mahdi Karim)

Wind-powered aeration

This innovation aims to develop a low cost, easily maintainable pond aeration system with a low environmental impact. This technology is specifically (but not exclusively) targeted to smallholder fish farmers. This system, which can provide a 60% increase in dissolved oxygen, can be assembled and maintained with minimal training and can be made with locally sourced materials.

ShrimpVet

ShrimpVet makes the whole technical value chain of shrimp farming accessible to shrimp farmers in Vietnam. This includes diagnostics service, training course and technology transfer of breeding, seed production, and shrimp farming technology. High-tech production demonstration of algae culture, seed production, and shrimp farming are also accessible to farmers in the area.

ShrimpVet makes the whole technical value chain of shrimp farming accessible to shrimp farmers in Vietnam. (Photo: ShrimpVet)

Verifik8

Verifik8 connects producers and buyers using mobile technology to de-risk operations in seafood supply chains. Through an affordable yet credible monitoring and verification software platform, VerifiK8 supports seafood buyers to make safer and more responsible procurements. VerifiK8 software uses mobile devices to collect and digitize data directly from farms and cooperatives. It cross checks information with other data streams to provide solid analytics and benchmarking of each farm or cooperative against the relevant sustainability standard.

Verifik8 offers integrated analytics solution to monitor and verify your supply chain. (Photo: Verifik8)

Round 3: boot camp and pitching event

Beginning of September, two members from each of the qualifying teams will join the pitch gurus and business plan coaches on the outskirts of Ho Chi Minh City. Using a combination of intensive workshops and fun activities, the participants will get to know their coaches and prepare their proposals for the pitching event.

At the pitching event, finalists will present their innovation to a panel of judges  who will award the Impact Prize to the model with the most impact potential at the end of the boot camp. Industry investors, financial institutes and donors in the development and aquaculture industry will also be present at the pitching event. In addition, a matchmaking component will be introduced to get the best innovations connected to the right organizations for maximizing the potential of the proposals.  

The Aquaculture Innovation Challenge is supported by the Dutch Ministry of Economic Affairs and the Vietnamese Ministry of Agriculture and Rural Development. (Photo: Solidaridad)

About Seafood Trade Intelligence Portal

The seafood sector is characterized by high levels of fragmentation. Low levels of consolidation and vertical integration make it difficult to find seafood sources that can offer a transparent supply chain. This, in turn, makes it difficult for companies with ambitious sustainability agendas to feed the growing demand for sustainably sourced seafood. Seafood Trade Intelligence Porta mission is to make sustainability-minded suppliers more visible and the supply chain more transparent in order to encourage industry-wide transformation.

About Solidaridad Network International

Solidaridad is an international network organization with offices across the globe. The interconnected network places a focus on decentralized responsibility and implementation by regional teams. Local knowledge, experience and vision are guiding principles. The network's connectedness is fostered by a global vision, strategy, programming, communication and internal quality-control systems. Each part of the network contributes to the whole.

About Fresh Studio

Fresh Studio is a consultancy firm that cares about agriculture. Dedicated to deliver enjoyment to consumers, we do so through sustainable business development. Our work ranges from agricultural inputs to fresh produce, processed goods and end consumer products.

Source: Seafood Trade Intelligence Portal

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