Sign up for the Aquaculture Innovation Challenge Indonesia Kick-Off Event Now!

On 23 rd January, at DoubleTree by Hilton in Jakarta, Indonesia, Seafood Trade Intelligence Portal, Solidaridad Indonesia, Fresh Studio and IPB, kick off the Aquaculture Innovation Challenge (AIC) Indonesia, sponsored by the Walton Family Foundation, and Hatch Blue. If you are familiar with the AIC, please keep reading; there have been a few changes to the competition. If you are new to AIC, you are in for a treat.

Why AIC? By 2050, aquaculture production will have to grow by 70 million tonnes of seafood, to meet the growing demand, and will play an increasingly important role in global food security. Indonesia is a significant global shrimp producer and is home to a very diverse sector, including many different species, production systems, and types of farmer. With theIndonesian government and industry’s ambitious growth targets, aiming to hit 600,000 tonnes by 2020 according to James Anderson’s presentation at the Global Aquaculture Alliance’s (GAA) Global Outlook on Aquaculture Leadership (GOAL) conference in 2018, innovation will be an essential way to move towards that growth being more sustainably achieved. The AIC mission is to find bright minds, with great ideas for creating positive environmental and social impact on the aquaculture industry, and help them achieve their ambitions. AIC connects its finalists to knowledge, networks, finance and capital and exposes them to the critical (and helpful) eye of a multi-disciplinary team of industry professionals. This team, made up of Indonesian and foreign individuals from financial institutions, shrimp related businesses, knowledge partners, government institutions and NGO’s, will oversee the process and act as proposal judges and boot camp coaches. Is AIC for you? AIC Indonesia will focus on shrimp and, just like last year’s challenge in Vietnam, participants can submit proposals at three different levels:
  1. Design (Early Stage): Innovation is in the idea stage and partially developed but not yet fully conceptualized.
  2. Demonstration (Middle Stage): Innovation is fully conceptualized, and all components of a business plan have already or partially been developed.  
  3. Upscaling (Late Stage): Innovation has demonstrated to be technically and financially feasible and has a positive social and environmental impact record.
This allows not only start-up companies to participate, but also other brilliant innovations that have passed the start-up phase but still need support in demonstrating the proof of concept or scaling up their business. This year, however, participants will be invited to apply in one of two tracks:
  1. Production innovation: in this track, all innovations that are related to shrimp farming itself (inputs, tech, management etc.) can be submitted.
  2. Consumer value: this track is more oriented towards innovations related to traceability, the blockchain, trade platforms, shelf life, marketing/branding of shrimp etc.
Participants can come from around the world, but all applications must be aimed towards creating a more sustainable shrimp industry in Indonesia. Indonesia has a diverse industry; it includes extensive shrimp ponds in Kalimantan, polyculture ponds in Sumatra and semi-intensive and intensive shrimp ponds around the country. Innovations can apply to all of the above but must have a positive social and environmental impact. What’s in it for you? All of our finalists are already winners! The AIC finalists will receive a finals-travel-package to help get them to the site of the boot camp, where they will benefit from a three day intensive work shop. There, business plan coaches and pitch gurus will guide finalists, supporting them to fine-tune their business models and to develop and prepare a (virtual) pitch, providing these entrepreneurs with an invaluable experience. The final round will consist of a pitching event where participants present their innovation to a panel of judges, relevant industry professionals and potential investors (both on-site and remote), providing these entrepreneurs with invaluable exposure. Of the finalists, several winners will be selected for additional prizes, including but not limited to a cash-and-kind prize from Hatch Blue, worth €100,000, in exchange for a small equity stake. Hatch Blue is the world’s first accelerator programme focused solely on the aquaculture industry and will grant one innovation team admission to their 3-months, high-intensity, programme and access to their network of global aquaculture industry professionals, investor and unique aquaculture and entrepreneurial experts. Other exciting prizes will be announced early in 2019. Click here, register for the kick-off event, now.  It is an opportunity that is too good to be missed.