Seafood Innovation Project: 2019 In Review

The Seafood Innovation Project (SIP) was an 8-month program, supported by the Australian Government Department of Foreign Affairs and Trade, that built a community from across the seafood sector to increase economic, social, and environmental impact through innovation. Indonesia is the second-largest producer of fish in the world, and its marine resources are under increasing pressure from unsustainable fishing and rising consumption. With a strong entrepreneurial culture and increasing global demand for sustainable seafood, the country is well placed to help reshape the sector. SIP aimed to position Indonesia at the center of innovation for a sustainable seafood economy, sourcing solutions through an open innovation approach across three challenge areas: innovative financing, novel technology, and market demand creation.

From 80 applications, six innovators were selected and supported through a week-long Summit and a six-month online accelerator, backed by a community of 120 stakeholders acting as mentors, evaluators, and collaborators. The results included AU$6 million invested in the innovators during the program, three securing additional funding, and three receiving awards, alongside 13 collaborations between innovators and community members. The program also surfaced clear lessons: a diverse cohort drove valuable peer learning, the sector showed real appetite to support new ideas, and gaps remain in private investment and in the connection between government and stakeholders. Together, these signal growing room for seafood innovation to scale in Indonesia.

About Seafood Innovation Project

The Seafood Innovation Project was established by SecondMuse with the support of the Australian Government Department of Foreign Affairs and Trade. It set out to test a new approach to economic development, building a diverse community from across the seafood sector and beyond to support high-potential innovators and position Indonesia at the center of innovation for a sustainable seafood economy.