SafetyNet Technologies

Solution Pitch

The Problem

Roughly one-fifth of the global population relies on fish as its primary protein source, yet between 8 to 25 percent of the total global fisheries catch is discarded each year due to a technical inability to accurately target and catch the right fish. The World Bank estimates that poor fisheries management costs the global economy $50 billion per pascal. Discarding seriously threatens this resource as juvenile, endangered, and other non-marketable fish are needlessly destroyed at great economic, environmental, and ecological cost.

New regulations, such as fines and fishing rights removal, also increase pressure on fishing crews to catch more selectively despite not having the tools to mitigate the problem. As commercial and artisanal fishing sectors suffer, so do the communities they support.

The Solution

SafetyNet Technologies is working towards a world where humans and the ocean thrive together through precision fishing technologies that enable observation, measurement, and response to fishing activities and changes in the ocean. Pisces - SafetyNet Technology's first precision fishing tool, is a simple to use, affordable, LED light-emitting device that retrofits onto any existing fishing nets. It helps fishers attract the size and species of fish they’re licensed to catch while repelling non-target species, acting as an emergency escape sign—ultimately lowering bycatch by up to 90 percent. Additional products currently in development focus on smart cameras, ocean environment sensors, and ghost-gear location tags. These precision fishing tools will ensure food security, income, and higher welfare for millions of people that rely on fishing, as well as protecting ocean biodiversity. Devices are supplied as a hardware-as-a-service two-year contract, during which crews are supported with maintenance and instructions. This relationship also allows SafetyNet to collect data from crews about how well the devices are performing, enabling them to continuously improve their science and technology.

Market Opportunity

Discarded catch costs $6.6 billion per year. Success with Pisces looks like a simple-to-fit, affordable solution that is actively deployed to combat bycatch by thousands, saving billions of ocean creatures.

Service Obtainable Markets for our technologies (Pisces, Pisces Deep, Helios, Enki, and NetTag) total £85.3 million based on 17,300 serviceable obtainable vessels.

Organization Highlights

• Partnered with the World Wildlife Fund, Tesco, Marks & Spencers, Vericatch, Schmidt Marine Technology Partnership, Associated Seafoods Limited, Cooke Aquaculture, and Clearwater Seafoods.

• Won Minderoo Prize to End Global Overfishing and The GSR Prize at Solve Challenge Finals.

• Highlighted as a Global Best Practice at Expo 2020 Dubai for addressing some of the world’s biggest challenges. 

Partnership Goals

SafetyNet Technologies seeks:

• Aligned partners to trial, deploy and implement our Precision Fishing technologies in pursuit of a secure and sustainable fish supply chain. 

• Expertise on regulatory and policy systems to inform integration of our products in the commercial fishing industry.

• Consulting on data strategy and aggregation in a highly regulated sector to create a sustainable and concrete business plan.