Rather than relying solely on the traditional call for applications, the FRDC is trialling new, more agile approaches to investment in Innovation that will deliver disruptive solutions that will ‘future-proof’ the industry. This includes a Challenge-led approach whereby problems and issues identified by the FRDCs stakeholders will be provided to start-ups, tech developers and large technology ventures to pitch their ideas and/or technologies with the view to engaging with industry participants to solve the identified issues.

In the vast Australian marine landscape, the potential for innovation in fishing and aquaculture remains largely untapped. Despite the abundance of resources and the pressing need for sustainable solutions, the sector has yet to fully embrace the opportunities presented by engaging with innovation investors and startup/scaleup founders. Recognising this gap, a groundbreaking Finnovation fund, led by the Fisheries Research and Development Corporation (FRDC), is set to revolutionise fishing and aquaculture. 

Finnovation will be a partnership between FRDC and an innovation investor (to be determined) to accelerate the growth of Australia’s aquatic innovation ecosystem. By co-investing in early-stage small-to-medium enterprises (SMEs), Finnovation will drive the commercialisation of novel solutions to address the sector’s most pressing challenges while delivering environmental, social and economic benefits.  

Learn more about Finnovation and how to get involved here.