Australia-based venture studio Blue Ocean Ventures continues its strong backing of SHRMP.bio, which is a seafood biotech startup launched in early 2024 and aims to revolutionize seafood production through advanced molecular biology, industrial processing as well as innovative aquaculture techniques. The primary focus is to shift seafood cultivation away from climate-impacted coastal areas to urban as well as industrial regions.
SHRMP.bio lately won the Public Choice Award at Startmate’s pitch night. But it is facing challenges too while transforming the Australian seafood industry. Dr. Lichtfuss, managing director of Blue Ocean Ventures and CEO of SHRMP.bio, noted the paradox of Australia’s seafood market. He explained that the import of seafood in is more than 90% even though the country has an extensive coastline.
Dr. Lichtfuss further added that the Australian seafood sector is largely overlooked as a business opportunity due to scarce research funding and low investor interest.
SHRMP.bio is believed to find a tremendous opportunity in the future of high-tech aquaculture. Dr. Lichtfuss stated that the company has spent much of its early journey validating the business potential of this innovative approach and the results have been even more promising than initially anticipated.
However, SHRMP.bio is optimistic about the role of novel technologies such as artificial intelligence in reshaping Australia’s aquaculture industry. Dr. Lichtfuss believes that the sector is primed for transformation and SHRMP.bio is well-positioned to develop unique intellectual property in the emerging field of high-tech aquaculture.
SHRMP.bio is poised to make a lasting impact on both the local seafood market and the global biotech landscape.
