Ire­land Hatches new busi­ness ini­tia­tives

Fish Farmer - - European News -

IRE­LAND hosted the lat­est Hatch Ac­cel­er­a­tor pro­gramme, which in­vests in aqua­cul­ture start-up com­pa­nies. The three-month long scheme, run by Ber­gen based Hatch, kicked off in Cork on Septem­ber 18 and fea­tured ini­tia­tives from the UK, US, Chile, Canada and In­dia.

Funded un­der the Euro­pean Mar­itime and Fish­eries Fund, and sup­ported by Bord Ias­caigh Mhara (BIM), the Ir­ish seafood devel­op­ment agency, Hatch was on a mis­sion to find the lat­est aqua­cul­ture in­no­va­tions.

The in­au­gu­ral pro­gramme was launched in Ber­gen in June, and the Ir­ish event hopes to achieve the same suc­cess. It pro­vides par­tic­i­pants with € 25,000 in in­vest­ment, as well as men­tor­ing, of­fice space for a year and a chance to pitch to a fol­low-on fund, which could in­vest be­tween € 100,000 and € 1 mil­lion.

The com­pa­nies in­volved are: Ic­tioBi­otic, which is de­vel­op­ing en­vi­ron­men­tally friendly and novel oral bio­ther­a­peu­tics; Min­nowTech, a US based imag­ing com­pany that has de­vel­oped a prod­uct which uses al­go­rithms, AI and ma­chine learn­ing to mea­sure real-time biomass and ac­tiv­ity of aquatic species; Sav­itri Aqua­monk of In­dia, which has de­vel­oped sen­sor based IoT de­vices to help farm man­age­ment; Prospec­tive Re­search, which em­ploys spe­cific ben­e­fi­cial bac­te­ria to pro­mote an im­mune re­sponse against harm­ful bac­te­ria found in fish and shell­fish; Wit­taya Aqua, cre­ators of a farm pro­duc­tion man­age­ment plat­form; and Alune, which claims to be able to re­gen­er­ate dam­aged ecosys­tems.

Cork res­i­dent Wayne Mur­phy, chief op­er­at­ing of­fi­cer and co-founder of Hatch, said: ‘We had a fan­tas­tic time in Nor­way. We had eight com­pa­nies, and a num­ber are now clos­ing in­vest­ment rounds, which is fan­tas­tic to hear.’

Hatch chief ex­ec­u­tive and co-founder Carsten Krome was one of sev­eral in­vestors at the re­cent Aqua­cul­ture In­no­va­tion sum­mit in Lon­don, which linked en­ter­prises to po­ten­tial fund­ing streams. (See page 34).

Above: Wayne Mur­phy

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.