Responsible and Sustainable Aquaculture
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New startup with big ambitions for aquaculture innovation and investment in Asia and Africa By Michael Phillips and Aliesha Pigott
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his is FUTUREFISH, a new startup on the aquaculture scene, founded by Dr Michael Phillips and Dr Rohana Subasinghe in early 2022. Both Phillips and Subasinghe have worked in aquaculture for many years. They are well established field specialists in research, and development, and have senior leadership roles and experience covering a diversity of aquaculture types and geographies. The new company builds on these experiences, focussing on identifying, stimulating and accelerating investment into sustainable aquaculture innovation, start-ups and businesses in Africa, Asia and the Pacific. The company intends to help bridge the gap between promising aquaculture innovations and investment and seek new opportunities for investment in sustainable aquaculture in places and systems where aquaculture has the most significant potential for positive impact. Phillips noted, “Much progress has been made with sustainable aquaculture in recent years, but much more needs to be done in Africa, Asia and the Pacific to create change through aquaculture at the scale needed - on human and environmental health, our oceans and inland waters, and the world’s response to climate change”. Increasingly recognised as an essential source of healthy and nutritious food—aquaculture can play a crucial role as a climate-resilient food source and livelihood option within a healthy and sustainable food system. Growing demand for fish and other “blue” foods makes aquaculture an active and exciting field of innovation and investment. Yet, the reality is that many innovations are not reaching farmers, are focussed on high-value species, are insufficient to achieve change at scale, or are blind to gender or the inclusion of small-scale actors. Low-income food-deficit countries and remote communities, where some of the greatest benefits of sustainable aquaculture might be achieved, are often not included in new investments. Risks from climate are poorly understood and not adequately factored into
new investments or business strategies. Futurefish was conceived to work with like-minded change-oriented partners – trailblazing innovators, entrepreneurs, businesses and investors – to identify and create opportunities in such “difficult” places and challenges. “Aquaculture is particularly important for food-deficit countries, where aquatic animals and plants are highly nutritious and offer unique health benefits. We believe that a greater focus on innovation and investment in low- and middle-income countries of Africa and Asia will create truly sustainable aquaculture for all and better outcomes for people, climate and the planet,” said Subasinghe.
Boy selling fish traps in Sierra Leone. FUTUREFISH will work with partners to invest in opportunities that enable youth in Africa to improve their livelihoods through sustainable aquaculture.
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May/June 2022 AQUA Culture Asia Pacific
