Aquaculture Innovation Challenge 2019 kicks off with a splash

10 January 2019

This year’s Aquaculture Innovation Challenge (AIC) Indonesia will kick off in Jakarta on 23 January, starting at 13:00. The AIC is intended for students, start-ups, project teams, small and medium-sized enterprises and other companies who boast groundbreaking ideas or innovations that can improve the shrimp industry but require knowledge, networks, finance or capital.

An inspirational group of speakers will discuss different aspects of the shrimp industry and how its sustainability can be improved through innovation and investment. Attendees will also find out more about the criteria, process and opportunities provided by the Aquaculture Innovation Challenge.

Registration for this kick-off event is open to participants, sponsors, and interested industry professionals. Register here.

The Kick-Off Event

After the success of the AIC in Vietnam in 2017, STIP, Solidaridad Network and Fresh Studio partnered up with Bogor Agricultural University (IPB) to bring the AIC to Indonesia. The GAA, Hatch Blue and The Walton Family Foundation provided financial support and additional expertise.

The kick-off event in January will set the scene, featuring presentations about the current status and challenges in the Indonesian shrimp industry, possibilities for innovations and how to connect to knowledge, networks, finance and capital. Speakers from around the world include financial and technical experts and experienced entrepreneurs and business leaders from GAA, Hatch Blue, JALA, Rabobank, Walton Family Foundation, XpertSea, and more.

AIC Application Details

AIC is open for applications from 23 January until 15 March. Participants can submit proposals with a focus on creating a more sustainable shrimp industry in Indonesia via the AIC website, in the format provided. Participants must choose the most appropriate of the following three levels:

  1. Design (Early Stage): the innovation is still in the idea stage and has been partially developed but not yet fully conceptualized.

  2. Demonstration (Middle Stage): the innovation has been fully conceptualized, and all components of a business plan have (partially) been developed.  

  3. Upscaling (Late Stage): the innovation has demonstrated to be technically and financially feasible and has had a positive social and environmental impact.

Participants will be invited to submit their innovation proposals under one of the following categories:

  1. Production innovation: in this category, all innovations that are related to shrimp farming itself (inputs, tech, management, etc.) can be submitted.

  2. Consumer value: this category is oriented towards innovations related to traceability, blockchain, trade platforms, shelf life, marketing/branding of shrimp, etc.

The Boot Camp and Finals

All of the finalists are essentially winners.

AIC finalists will receive a travel package to join a boot camp from 23 to 27 June 2019. This is a three-day workshop with business plan coaches and pitch gurus who will support finalists in fine-tuning their business models and developing their (virtual) pitch. On the last day, finalists will present their pitch to a panel of industry professionals and potential investors to get feedback, exposure and opportunities for partnerships and investments.

All finalists will also receive a year’s STIP bronze membership, which includes access to the price portal, the knowledge library and a subscription to ShrimpTails. 

Prizes

The winner of the Production Innovation category will be awarded $50,000 in cash and admission to Hatch Blue’s three-month aquaculture accelerator programme and given access to their global network of industry professionals and investors, adding up to a cash and in-kind prize worth $100,000, in exchange for a small equity stake.

In partnership with the Global Aquaculture Alliance (GAA), the AIC offers the winner in the Consumer Value category a cash prize of $10,000 and a member of each winning team will receive a travel package to participate in and deliver a presentation at one of the world's leading annual aquaculture conferences: the GOAL 2019 conference in Chennai, India.

Sign up here to receive the AIC Indonesia newsletter and be kept up to date with the latest information. 

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Learn more about Solidaridad's global aquaculture programme.

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