The aquaculture tech VC is known for their global accelerator programme investing in companies focused on sustainability improvements in the aquaculture value chain. ‘Hatch Innovation Studio’ is a new, focused programme that aims to develop local and regional projects in a shorter amount of time.
The first installment of the new programme called ‘Hatch Innovation Studio’ will take place in Singapore from 4 May to 11 June 2021. The Innovation Studio is focused on developing aquaculture and alternative seafood projects and is open to a range of applicants, from teams at the idea stage to later stage startups seeking to explore new industries and markets.
As both production and consumption of seafood continues its growth trajectory in Asia, the sector needs to innovate to improve its sustainability. According to FAO’s The State of the Fisheries and Aquaculture 2020 report, nearly 90 per cent of aquaculture production in 2018 came from Asia. By 2030, Southeast Asia and India’s global market share of production is forecasted to increase to 25.5 per cent.
Asia will also make up 73 per cent of the increase in global seafood consumption by 2025. On the alternative protein side, Southeast Asia has seen a 440 per cent increase in vegan and vegetarian plant-based product launches since 2016.
Wayne Murphy, Co-Founder and Partner at Hatch, states that
“Seafood consumption drives the growth of the aquaculture and alternative seafood in the region. With the rising populations, existing opportunities in the region will only grow further. We are looking for the best ideas to develop and scale into viable businesses to address the challenges in Asia.”
Hatch has worked closely with Enterprise Singapore to drive innovation since 2019. The first aquaculture tech demo day in Singapore was held in 2019 at The Substation and featured 13 companies in its third global cohort, drawing a large audience of global and regional industry leaders, investors, and government representatives.
Hatch is committed to supporting more talent from Singapore and the surrounding region to create a local pipeline of aquaculture and alternative seafood startups. The team has experience working with projects at different stages, from PhD researchers and professionals from other industries to later stage companies.
The programme features a mix of internal and external mentors focused on the farmed and alternative seafood value chain. Participants will have the chance to validate their ideas with global and regional aquaculture experts, develop route-to-market strategies, and gain investor guidance.
They will also have full access to the Hatch team, which will help them develop their business model, team, technology readiness and industry fit. Overall, they will gain a holistic understanding of the global and regional aquaculture industry.
Hatch Innovation Studio Asia 2021 is part-time and the duration is 6 weeks. Participants do not need to pay a fee for the programme and no equity will be taken for in-kind services.
Potential applicants are encouraged to visit this website to learn more and apply for the programme.
Hatch is an early-stage venture capital company that invests in sustainable aquaculture and alternative seafood. Founded in 2017, the goal of Hatch is to revolutionise the way we produce seafood by investing in its technological development.