Seafood Innovation Project Announced Six Innovators

Seafood Innovation Project has just announced its first cohort of Innovators. Starting in February, selected Innovators will participate in an accelerator program aimed at improving sustainability in Indonesia's seafood sector.

About Seafood Innovation Project

SecondMuse's first ocean project in Indonesia, Seafood Innovation Project (SIP) is aimed to build an innovation ecosystem to improve the sustainability of Indonesia’s seafood sector. As an archipelagic nation with 54,000 kilometers of coastline, Indonesia's vast ocean resources have been integral to the social and economic lives of its people and key to the success of the country’s seafood sector. However, Indonesia’s seafood sector is currently under immense threats due to overfishing, exploitation, and unsustainable fishing practices.

Over the past three months, SIP has been seeking the most promising innovations and has issued a global call to address some of the sector’s challenges. Selected Innovators will participate in the SIP Community Accelerator, a tailored business support program that will help develop innovative solutions and scale them to market. Today, SIP announces its first cohort of Innovators:

Their innovations, ranging from a peer-to-peer lending platform and a light-emitting fishnet to an AI-based mobile application, are potential answers to three challenge areas within the sector: innovative financing, novel technologies, and market demand creation.

From February to October this year, the Innovators will journey with SIP Community Accelerator, gaining access to funding and new market pathways, mentoring sessions and a range of workshops. Through the program, the Innovators will be connected with the SIP Network, which includes experts and key players from the seafood sector, to foster impactful collaboration that drives significant change for the sector.

The cohort of 6 Innovators was selected from a pool of 80 applications submitted by startups, organizations, and individuals from 10 countries. The application was open for innovation at various stages, from early prototype development to commercially proven solutions with the potential to impact Indonesia.

Applicants in Numbers

• Total Applications: 80
• Location: 37 different cities from 10 different countries
• 74% of applicants identify as male, while 26% identify as female
• Challenge Areas: 30% novel technology, 34% market demand creation, 20% innovative financing, 16% other
• Sector: 36% wildcatch, 34% aquaculture, 30% both
• Applicant’s Background: 32% are startups and businesses, 25% are individuals, 14% are social enterprises, 6% are NGOs, 6% are from governments, and 17% are others