Hawaii hoses down aquaculture fund

UH Ventures, an intellectual property, licensing and collaboration arm of University of Hawaii System, is to take part in an investment fund of undisclosed size targeting the aquaculture industry, Big Island Now has reported.
State-owned research agency Natural Energy Laboratory of Hawaii Authority (NELHA) will also participate in the fund, as will state economic development board Hawaii Strategic Development Corporation (HSDC).
The fund will support an aquaculture-focused accelerator due to commence in the autumn of 2019 operated by Hatch, which runs similar programs in Norway and Singapore.
Hatch’s initiative in Hawaii will run for at least three years, with three annual cohorts of 10 to 14 startups centred around sustainable aquaculture technologies in areas including animal health, farm and water management, and feed products.
The accelerator will be housed at the NELHA-owned Hawaii Ocean Science and Technology Park on Hawaii Island. It is the result of consultations with more than 100 participants at the 2017 Hawaii Aquaculture Industry Summit and preparatory funding from various state and US government-run bodies.
Vassilis Syrmos, vice-president for research and innovation at University of Hawaii System, said: “The accelerator is in alignment with many of our existing research and training programs at University of Hawaii.
“We look forward to playing a significant role in creating a bright future in sustainable aquaculture for the state by helping to develop a skilled, knowledge-based workforce to make it flourish.”
Karl Fooks, director of HSDC, said: “Hawaii is home to both pioneering industry research efforts and commercial activities that have made significant contributions to the global industry.
“Through this accelerator and fund, the state will further raise its global visibility in marine technology and capitalise on the commercial opportunity in the global aquaculture industry.”