Institution name
SHRMP.bio (Blue Bio Technologies Pty Ltd)
Project title
Project description
(300 words max)
SHRMP.bio is an Australian early-stage biotechnology start-up that is developing the technologies to build a seafood manufacturing system ready for the challenges of the 21st Century - by fusing molecular biology, industrial bioprocessing and automation with the latest aquafarming approaches.
In the initial phase, SHRMP.bio is working on an autonomous, low-impact, distributed aquaculture shrimp factory called the "SHRMP Reactor." This innovation enables decentralised grow-out of the final product, prawns. The "SHRMP Reactor" is designed to be easily scalable, movable, fully enclosed, and protected from environmental factors and the impacts of climate change.
In the second stage, SHRMP.bio aims to develop an asexual, clonal larvae hatchery system similar to cell-culture-based manufacturing approaches. The combination of both technologies will then allow for closed-loop culturing of seafood in a controlled environment, resembling a GMP bioreactor-based manufacturing process. This approach completely separates the seafood production from the natural environment and even opens up possibilities for future functional food design.
The ultimate goal of SHRMP.bio is to create the necessary hardware and operating systems to address current production challenges, enable seafood production in urban or industrial areas close to markets, shift seafood production to areas less affected by climate risks, and enhance the traceability of ingredients from raw material to finished product. Furthermore, SHRMP.bio aims to offer solutions that will be needed by markets facing the escalating impacts of climate change and population growth as SHRMP.bio’s technologies will facilitate the provision of essential animal-derived nutrients to the rapidly growing population in vast urban areas.
SHRMP.bio is a privately held, founder-created and funded, early-stage innovation company supported by NAFI and Statmate’s LaunchClub and Buildmate programmes through 2024. SHRMP.bio is working on completing the first small-scale SHRMP Reactor prototype by the end of 2024.
What is the investment you are looking for?
(150 words max)
SHRMP.bio aims to raise a total of AUD 5 million by Q2/2025 to fund Research & Development. We are looking for investors who share our values, have a long-term outlook, understand future trends and opportunities over the next 25 years, and are interested in driving the development of innovative technologies that combine digital, bio, and manufacturing technologies in Australia. Although there is potential for generating revenue and profitability earlier, we anticipate the need for additional rounds of financing over the following 8 years (totalling AUD 500 million over the company's lifespan).
What will the investment be used for and what will be the outcome at the end of the investment?
(150 words max)
The AUD 5 million raised will be used to establish a skilled team in Australia to drive the company's development and research activities, as well as the required materials and company operations. It is expected that the investment will be largely eligible for the Australian R&D Tax Incentive, and there may be opportunities to access matching grant funding programs.
The main goal is to create the first commercially operating SHRMP reactor that will demonstrate the technology, build an initial patent portfolio, and gather real-world operational and economic data to validate the business case.
As a secondary goal, the groundwork will be laid for an asexual hatchery approach, and the first research collaborations will be initiated.
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