The First Integrative Fisheries Management System

Project Information

TFM

Grant agreement ID: 808490

DOI

10.3030/808490

Project closed

EC signature date 31 January 2018

Start date 1 February 2018

End date 31 May 2018

Funded under

• SOCIETAL CHALLENGES - Food security, sustainable agriculture and forestry, marine, maritime and inland water research, and the bioeconomy

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

FISHERIES TECHNOLOGIES EHF
Iceland

Periodic Reporting for period 1 - TFM (The First Integrative Fisheries Management System)

Reporting period: 2018-02-01 to 2018-05-31

Summary of the context and overall objectives of the project

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.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

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.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

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.

image1-tfm.png