The AI-empowered platform has 60,000 fish and shrimp farm users
Aquaconnect, a Chennai-based technology company supporting India’s growing shrimp farming industry, will showcase its solutions at the fifth edition of the Paris Peace Forum 2022 this November.
Aquaconnect is a full-stack aquaculture inputs and outputs platform with embedded fintech, supported by a “phygital” distribution network. One of two Indian startups invited to the event, the company, founded in 2017, is one of 60 leading projects worldwide to be selected under the “Leveraging Artificial Intelligence (AI) for economic development in the Global South” category.
“The UN predicts that by 2050, close to 200 million people worldwide will be displaced due to the negative impacts of climate change, threatening food security, livelihoods, and social stability in coastal and island nations,” said Rajamanohar Somasundaram, founder and CEO of Aquaconnect. “As the demand for protein rises with a growing population, the need for sustainable food production is ever more pressing. It is time we recognize and harness the full potential of aquaculture as an alternate and sustainable source of food production.”
“At Aquaconnect, our aim is to promote sustainable aquaculture activities through technology and financial intervention. Aquaconnect enables data-driven solutions, AI and satellite remote sensing in aquaculture to improve efficiency, sustainability, and value chain transparency. We look forward to sharing our learnings with the world.”
Somasundaram will also be presenting at the Global Seafood Alliance’s GOAL conference this October in Seattle.
With technology “intervention,” Aquaconnect creates efficient market linkages for farmers to access farm inputs, low-interest credit and insurance and sell their produce to seafood buyers with traceability, according to the Paris Peace Forum website. Aquaconnect works with more than 60,000 shrimp and fish farmers across the coastal states of India.
The Paris Peace Forum – held Nov. 11–12 at the Palais Brongniart in Paris – will allow the participants to focus on global cooperation. Aquaconnect will present solutions that foster sustainability in aquaculture and climate action through technology. Founded in 2018, the event is a platform open to all seeking to develop coordination, rules and capacities that answer global problems. It has thus far featured more than 400 projects, of which 10 annually receive one year of customized support via the forum’s Scale-up program.
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