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Continual Acoustic Based Multifunctional Cage Mounted Fish estimator Deigned To Reduce Feed Waste, Fish Mortality, and Predator and Fish Escape Control

Periodic Reporting for period 1 - Fishtimator (Continual Acoustic Based Multifunctional Cage Mounted Fish estimator Deigned To Reduce Feed Waste, Fish Mortality, and Predator and Fish Escape Control)

Reporting period: 2015-07-01 to 2015-12-31

1) Market study- over a period of 5 months to interpret trends and conduct customer surveys to assess the possible impact & uptake of FISHSTIMATOR.
2) Over 4 months, validate the suitability of the FISHSTIMATOR software and hardware.
3) Recruit subcontractors & partners in the aquaculture sector over a 3 month period to establish supply chains for widespread delivery of the solution.
4) Conduct a technology watch, develop an IP and commercialisation strategy over a period of 5 months to ascertain that we are not infringing any privacy, protect our solution and to identify any other technologies in development that could potentially compete with ours.
5) Draft a detailed business plan and feasibility study report showing the most suitable routes to market and growth projections over a 5 year period
1) Acquired a much deeper understanding of the market’s requirements for in cage biomass and fish sizing technology in terms of both market size and dynamics.
2) Carried out validation of the FISHSTIMATOR software and hardware components for the purpose of assessing biomass, average weight and size distribution
3) Identified major end user customers in both the global salmon and bass/bream sectors and have acquired letters of intent from them.
4) Assessed the technological landscape through a technology watch to ensure that we are not infringing on any IP. Identified the protectable IP from our project. Assessed the relative strengths and weaknesses of the current competing methods and solutions.
5) With the aid of the market knowledge, drafted a business plan showing the best route to market including a disruptive business model, growth projections and cost benefit analyses. The business plan also details Phase 2 activities and our commercialisation plans.
In comparison to the state of the art, FISHSTIMATOR has advantages or benefits in every measurable attribute. Assessed through a detailed PESTLE analysis that FISHSTIMATOR will have a positive socio-economic impact.
FISHSTIMATOR info graphic