KONREE INNOVATION: TRANSFORMING SALMON AQUACULTURE WITH DEEP TECH SOLUTIONS
Konree Innovation, led by Margaret Rae and Mike Flynn, specialises in aquaculture technology utilising advanced sub-sea machine visioning, learning, and artificial intelligence to pioneer a sciencedriven solution for effective sea lice management in salmon aquaculture. We spoke with Margaret and Mike to learn more about Konree and their business journey.
Why is green innovation so important today?
Climate change is undeniable and urgent. Action is paramount to mitigate greenhouse gas emissions swiftly, preserving a habitable planet for us all. Transitioning our food production systems to low carbon footprints and implementing circular practices with finite resources is essential for sustainability. It’s imperative that we develop solutions swiftly to ensure a liveable future and we are proud to contribute to this cause.
What sustainability issue or challenge is your business addressing?
With the global population on the rise, sustaining 10 billion people by 2050 demands climate-conscious food production solutions. Land resources are depleted, and wild fisheries overexploited, so aquaculture emerges as a sustainable alternative. Salmon stands out as a highly sustainable protein source, significantly lower in carbon footprint compared to beef, pork, and chicken. However, sea lice parasites pose a significant challenge to the salmon industry’s growth. Efficiently managing sea lice in salmon aquaculture is crucial to sustainably yield healthier and heavier fish within shorter production cycles at sea.
What are your plans for growth in Ireland and overseas?
Konree primarily focuses on exporting its technologyenabled services to salmon producers worldwide. Our markets span across Norway, Chile, Scotland, Canada, Iceland, the Faroe Islands, Australia, New Zealand, and Ireland. Norway, in particular, holds significance as a key market, given its global leadership and influential role in aquaculture practices.
What is the biggest challenge you have overcome since starting your company?
The initial hurdle involved assessing the viability of the business. This was followed by recruiting suitable talents and persuading them to come on board, devising the solution, and finally securing investments. The constant challenge lies in confronting the next obstacle; as one is overcome, another emerges seemingly more challenging. Navigating through challenges and remaining steadfast is essential. Ultimately, securing and satisfying customers poses the greatest challenge, demanding dedication and perseverance to meet and surpass their expectations.
What is the best piece of advice you have received as an innovator?
Before allocating resources to your company, it is so important to ensure it is a viable business. We would suggest you avoid being swayed solely by passion. Instead, prioritise a customer-centric approach that addresses their needs. Swiftly progress to a minimal viable product once you’re confident in its value proposition. Early revenue streams not only bolster the company but also enhance investor confidence. Additionally, customer interactions serve as invaluable feedback, refining the business model and ensuring alignment with market demands. It’s imperative to balance enthusiasm with pragmatism, focusing on sustainable growth and delivering tangible value to customers and stakeholders alike.
What advice would you have for other budding entrepreneurs?
Consider enrolling in an entrepreneurship programme, such as Accelerate Green, and avail of the opportunity to rigorously test your idea and ascertain its potential. Engage in extensive reading and research to deepen your understanding of your industry and market landscape. Most importantly, prioritise frequent and meaningful interactions with your customers. Embrace continuous learning and dialogue as essential components of your entrepreneurial journey.
Konree Innovation is currently participating in Bord na Móna’s 2024 Accelerate Green Programme.
This leading accelerator programme, delivered by Bord na Móna in conjunction with Resolve Partners, is dedicated to scaling early-stage enterprises, SMEs and start-ups that are leading the response to climate action and sustainability. For further information about the Accelerate Green Programme visit accelerategreen.ie