SafetyNet - innovation for the commercial fishing industry
by Startacus Admin
Innovation to help the sustainability of commercial fishing...
Everyone is aware of overfishing as a big problem, with fish being caught at a rate that they can’t replenish their numbers. A lesser known issue around fishing is called bycatch, where one in every five fish caught is not a fish that can be sold and used, either because it’s not legal, it’s endangered, or it’s simply not a fish that people eat. Unsurprisingly, other sea creatures, such as turtles, are also caught up in this. This is damaging ecologically, environmentally, and economically, with 16 million tonnes of fish wasted globally every year. So is there an inexpensive, effective way of avoiding bycatch?
London-based tech startup SafetyNet think they have it in their PISCES bycatch reduction shield. This is an ostensibly simple piece of equipment that clips onto fishing gear, without adding any significant weight or buoyancy issues, and uses smart lighting to attract and repel certain types of fish, leading to a 90% reduction of bycatch.
The SafetyNet team has used research from fisheries around the world to understand what type of lighting can be used to attract the right fish and what lighting can be used to repel fish that shouldn’t be caught, based on the wavelengths that these different species can and can’t see.
In so doing, SafetyNet says that PISCES helps to avoid fines for catching the wrong fish, allows a 90% decrease in sorting time, decreases fuel costs by 20% by increasing efficiency, and increases revenue by 25%.
This year, SafetyNet was named as a finalist for the Ocean Awards 2020 under the Innovation Award category, and in February, the startup announced a huge £1.1m convertible note investment from Mirova, through the Althelia Sustainable Ocean Fund.
The financing is being used to scale their manufacturing capacity, increase sales and marketing activities, and expand their customer service teams. With $500,000 lost every year per vessel, we can see a proven device like PISCES becoming widely used within a short time.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Innovative London-based EdTech startup secures £500,000 funding supported by AIN, the world's largest online angel investment platform
Funding secured by Omnipresent Group to help it expand and meet demand from companies seeking cost effective and legally compliant employment solution for remote workers
ScaffFloat and its innovative product that integrates with scaffolding parts to make floating pontoons, rafts and versatile floating structures
In this quickfire post we outline some of the key startup costs that you are going to have to consider when starting that business.
Here are 6 of the best property marketing tips for any new estate agents who are looking to win more business.
Struggling for business ideas? Read on for some solo business roles are perfect for budding entrepreneurs...
Donna Torres, director of small business at Xero UK shares some tips for preparing for the new normal & building a financial plan around it.
Thinking about starting a company in China? These basic tips will help you do just that...
The innovative FinTech startup that is on a mission to use the power of Open banking and data to help us all effortlessly grow our savings
With more consumers using mobile devices than ever before, optimising your online presence is a must.
Published on: 26th July 2020
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Bibliu raises £500k with support from Angel Investment Network 12th Aug 2020 Innovative London-based EdTech startup secures £500,000 funding supported by AIN, the world's largest online angel investment platform
- Omnipresent raises $2m to provide a solution for the remote work revolution 11th Aug 2020 Funding secured by Omnipresent Group to help it expand and meet demand from companies seeking cost effective and legally compliant employment solution for remote workers
- UK small business data in June suggests sales recovery, but jobs continue to decline 29th Jul 2020 Xero and AlphaBeta analysis reveals the latest trends and insight into the impact of COVID-19 on the UK's small business economy
- United Utilities Innovation Lab hunts for innovative businesses for third programme 22nd Jul 2020 United Utilities, has recently launched its third Innovation Lab - the successful accelerator programme which helps innovative businesses grow and develop.
