Hatch ready to nurture more fledgling aquaculture firms
Aquaculture business accelerator Hatch has begun the search for the high-potential start-ups that will take part in its second programme, starting in September in Ireland.
Hatch, which describes itself as the world's first accelerator programme focused on the aquaculture industry seeking to find, develop and scale talented and disruptive aquaculture start-ups, offers a mentor-driven 15-week programme tailored to meet the requirements of the start-up teams selected for each cohort.
Its management team is headed by Carsten Krome, who holds a PhD in aquaculture nutrition from the University of Stirling’s Institute of Aquaculture.
The first Hatch programme started in Bergen in April and is now finished.
‘World-class mentors’
Hatch, owned by Krome’s Alimentos Ventures, offers start-ups a total investment of €80,000 (€25,000 cash plus mentoring, training, perks, office space, demo day etc.) through a convertible loan note.
It also takes an 8% equity stake.
The programme offers “world-class mentors” who will engage with the teams each week of the program, sharing their aquaculture and entrepreneurial experience. Hatch’s long list of mentors includes Chris Hyde, commercial director of seal deterrent manufacturer Otaq, Jason Cleaversmith, general manager of AKVA Group Scotland, and Viggo Halseth, chief innovation officer for Skretting / Nutreco.
Drive progress
Additionally, each team will be allocated a specific lead mentor to drive progress throughout the programme.
Hatch also promises to develop the maximum potential of start-ups via introductions to potential strategic partners, aquaculture-specific marketing exposure, peer-to-peer learning and legal support.
Once start-ups are “investment-ready”, they are introduced to an aquaculture specific investor community, and are also given the opportunity to pitch to Hatch’s follow-on fund, which invests between €100,000 and €1 million into high potential companies.
Cork, Norway and Singapore
The next accelerator programme starts on September 17, in Cork, and includes weeks in Norway and Singapore.
The eight companies that took part in the first programme came from seven different countries – India Thailand, Indonesia, Norway, Portugal, the US and the UK.
More information can be found here.
