Indonesia's seafood farming industry faces a 'technology gap' — and startups are raising big bucks to fill it

  • 📰 CNBC
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Seafood farming in Indonesia faces a 'technology gap.' Startups are raising big bucks to fill it

"A lot of decisions made are based on gut feeling or what ancestors have been doing for the past 60 years," said Guntur Mallarangeng, co-founder and CEO of shrimp farm management company Delos."Indonesia's fisheries industry has a lot of old-style players that have passed on conventional business practices from generation to generation," said Yinglan Tan, founding managing partner and CEO of Singapore-based Insignia Ventures Partners, which invested in FishLog.

eFishery helps farmers optimize their processes through automatic feeders and mobile apps. The automatic feeders detect the hunger levels of fish and shrimp through their movements, which prevents a problem more common in the manual process: over- and under-feeding.Coinbase shares to get cut nearly in half as retail traders shun crypto, Mizuho predictsstarted his own catfish pond in 2009 while he was a student to supplement his family's income.

Indonesia has the puzzle pieces to become a global leader in aquaculture and seafood production. Once we figure out how to put them together, we should be able to become a seafood powerhouse in the global market., according to the Marine Policy journal of ocean policy studies.He claimed that farmers who worked with Aruna have been able to sell their catch by up to 50% more.

"With the right transfer of knowledge and technology of best aquaculture practices, Indonesia is very well positioned to consolidate its standing as one of the top aquaculture nations in the world," the report said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines