Fish 2.0 whittles 184 applicants down to 40 semifinalists
Fish 2.0, a business competition that connects seafood businesses and investors to grow the sustainable seafood sector, announced last week that 40 companies in the seafood industry will present ideas to investors at the Fish 2.0 Innovation Forum taking place in November at Stanford University in California.
The program bears similarities to the hit television show Shark Tank, and the field of contestants was narrowed from a long list of 184 entrants.
“This is the strongest group ever. The level of innovation is potentially both system changing and very profitable,” Fish 2.0 Founder and Executive Director Monica Jain said. “We’re seeing the rise of ‘seatech’ – new monitoring, visibility, production and processing tools for the seafood industry – as well as other advances that remove barriers to growth and sustainability for fishers, farmers and buyers throughout the value chain.”
It was a difficult process to narrow down the field, Jain said.
“The companies that earned places as finalists are committed to growth and have products and market strategies that resonate with the varied group of investors who serve as online judges,” she said.
At the forum, the group will be narrowed down to 24 finalists who will present a three-minute elevator pitch to the audience of investors. The presentations will be split into four groups: ventures taking pressure off wild fisheries; aquaculture production and related technologies; transparency, traceability, and fisheries technology; and supply chain innovations, including new paths to market for fishers. After that, the group will be narrowed down to 16 finalists who will be given 90-seconds to pitch their idea. The audience will then vote to decide the winners. The winners will receive cash compensation totaling over USD 50,000 (EUR 42,100). Industry connection prizes that pair winners with established companies in the seafood industry are also available.