Hatch widens mission, splits into three business units
Hatch, which has since 2017 functioned as an accelerator program for aquaculture-related start-ups, has added two business units that will focus on innovation and investment.
“What started as the world's first accelerator program for aquaculture technology has now become a global catalyst for aquaculture and alternative seafood innovation,” Hatch said in an announcement sent out via email on Thursday, 17 September.
Hatch was founded by Carsten Krome, Georg Baunach, and Wayne Murphy as an annual accelerator program for the aquaculture sector. That program recently expanded to include start-ups in the alternative seafood sector as well, and will continue under the new business arrangement.
“Hatch’s accelerator program is probably now the most-knowledgeable, most-connected group of aquaculture professionals and alternative seafood professionals out there,” Murphy said in a video announcing the launch.
Additionally, the newly-formed Hatch Investments will operate a fund to encourage investment and growth of early-stage aquaculture-focused start-ups. Previously, Hatch had operated a USD 8 million (EUR 6.8 million) fund that has invested in 30 companies, but the fund will now be a standalone entity.
“Hatch has now built up an extensive pipeline when it comes to early-stage innovations,” Hatch Innovation Manager Tanja Hoel said. “We actually have now more than 1,000 aquaculture start-ups that we’re closely monitoring. We are now trying to give corporates access to our pipeline. We’re helping governments building up clusters, ecosystems, innovation programs, and accelerator programs globally.”
Hatch Innovation Services will offer consulting services for corporations, governments, and later-stage investors on their investment and innovation strategy.
“Our vision is to achieve the least-possible footprint of farmed and alternative seafood for the benefit of the oceans, terrestrial ecosystems, and future generations,” Hatch said in its announcement.
Hatch now has 10 full-time employees and operates out of offices in Norway, Singapore, and the U.S. state of Hawaii.
“We’re very excited about the next years to come,” Baunach said. “I think we have a real role to play in the innovation space in the aquaculture and alternative seafood [realms]. So we’re excited to solidify that position and further build out our expertise, our brand, our network, and every community growing around us.”
Image courtesy of Hatch