A new competition aiming to promote investment in small to medium-sized businesses in the sustainable fishing and aquaculture industry is offering cash prizes up to USD 75,000 (EUR 55,268) for the best new investment idea.
Fish 2.0 is open to fisheries and aquaculture businesses looking for investment in new business ventures or expansions of existing ones. Each competitor must submit a proposal online before 31 March to enter.
Judges will go over the entries in a series of phases, paring down the list until they have chosen a winner. While the competition does offer cash prizes to the top ideas, proponents indicate that the event’s other purpose is for investors and businesses to network with each other.
“With the right capital investments, businesses in the sustainable seafood sector could be growing faster,” says Monica Jain of Manta Consulting, one of the competition organizers. “We created Fish 2.0 to build the connections to make this happen.”
Various investor firms are sponsoring the event, in hopes of finding new ventures to back.
“Seafood plays a key role in the food system, and we’re looking to invest in business owners who have promising ideas for growing their enterprises and breaking into new markets,” said Taryn Goodman of RSF Social Finance.