Aquamonk floats to the top in Cork accelerator project
Aquamonk, an India-based start-up that uses solar-powered sensor modules for real-time monitoring and data management for shrimp farming, has been voted Most Investible Business at the Hatch Accelerator Demo Day.
The event, held yesterday to an audience of Irish and international investors at Dogpatch Labs, Dublin and via a live internet stream, marked the final day of the second accelerator programme for aquaculture following the inaugural programme in Bergen earlier this year.
The intensive three-month programme, run by Hatch and supported by Bord Iascaigh Mhara (BIM), Ireland’s seafood development agency, under the European Maritime and Fisheries Fund, was based in Cork city. Start-ups from the UK, US, Canada, Chile and India benefited from mentorship from experts in the fields of aquaculture, technology, finance and marketing.
New phase on innovation
Speaking at the event, BIM chief executive Jim O’Toole said: “This programme represents a new phase of innovation for the Irish seafood sector. Three of six Hatch start-ups look likely to continue to operate their global aquaculture business from Ireland.
“This shows we’re making progress in our ambition to lead in aquaculture innovation. The demand for seafood and moreover for high quality seafood is growing. This places Ireland in prime position. Almost 15,000 adults work in the sector in Ireland. It’s at the heart of many of Ireland’s coastal communities and the focus on innovation will benefit the entire sector.”
Alune, an aquaculture investment business that allows access to high liquidity investment opportunities in aquaculture, incorporated its business in Ireland days before starting the Hatch accelerator for aquaculture. A further two of the six start-ups that took part in the accelerator, are currently at advanced stages of trying to establish their global aquaculture business HQs in Ireland.
Fish immune systems
Hatch chief operating officer and co-founder Wayne Murphy said: “Taking Hatch to Ireland has been a hugely positive experience. All of the start-ups have gained from the expertise and support they received during the last three months as has been made clear at today’s Demo Day."
Hatch aims to find, develop and scale up talented and disruptive aquaculture start-up companies.
The start-ups taking part in the Cork accelerator included Santiago-based IctioBiotic, which has developed a platform to create both new engineered probiotics that are able to stimulate fish immune systems, and modified probiotics that can be used as oral vaccines against viral and bacterial pathogens.
Another was Massachusetts-based Prospective Research, which is developing all natural, non-GMO, preventative probiotic feed additives that treat EMS in shrimp and sea lice in salmon.
