Periodic Reporting for period 1 - TFM (The First Integrative Fisheries Management System)
Reporting period: 2018-02-01 to 2018-05-31
Fishing contributes significantly to global food supply and provides a source of income for millions of people. Most fish stocks worldwide, however, have been fished to unsustainable levels. The consequence is the biological degradation of fish resources and substantial economic loss. Sustainable Fisheries Management is the way to cope with this situation, contributing to food security and nutrition while ensuring sustainable development. Regimes around the world have created their own customized information system for their fisheries management but many of these systems are ineffective, obsolete and expensive. Fisheries Technologies offers a simple and effective fisheries management solution, The Fisheries Manager (TFM), a powerful out-of-the-box centralized information system that provides a clear picture of the fisheries sector and its economic health. The Fisheries Manager platform is a highly configurable, extensible and easy-to-use cloud application platform built on an enterprise-grade infrastructure from Oracle.
During our feasibility study we have defined new modules and their integration and assessed technical requirements. We have elaborated an Execution Plan with risk analysis for the development of TFM. Commercially, we have analyzed our target market, approached international fisheries organizations and established commercial partners to define a plan to consolidate our commercial strategy. Moreover, we have updated our Freedom-to-Operate. Finally, on the economic side, we have drafted financial forecasts, based on the most business model strategy (SaaS) and price policy, to evaluate on a 5-year-projection.
We will approach Fisheries authorities and International Organizations concerned with fisheries management, such as FAO and World Bank, to show them the economic, social and ecological benefits of an efficient fisheries management system as TFM.
Our company will offer the logical evolution of the Icelandic fisheries management IT system: TFM.
Our company will offer the logical evolution of the Icelandic fisheries management IT system: TFM.