New innovation grants for NSW seafood sector

19 Jan 2023

NSW seafood businesses will be able to net a share in $500,000 worth of grants in a new push to drive further innovation across our local seafood industry.

NSW Premier Dominic Perrottet said expressions of interest are officially open for the NSW Seafood Innovation Program which is aimed at creating more jobs and boosting the value of the sector.

“NSW is the seafood state. Whether it be fish, crustaceans or shellfish our hardworking commercial fishers serve up some of the freshest and highest-quality produce in the world,” Mr Perrottet said.

“Seafood businesses are critical to local jobs and the economies of so many communities along our coast. This initiative is all about unlocking further innovation and growing the value of our seafood sector over the next 10 years.

“We know some of the best seafood across the globe is caught in our waters, including on our South Coast, and this is about backing NSW businesses to continue to sell the highest-quality produce here in Australia and also across the globe.”

All proposals put forward must address one or more of the three key challenge areas including supply chain innovation, product innovation and product quality.

The program will:

  • Provide innovators with a new avenue to propose ideas and technologies to increase the value of NSW seafood.
  • Offer $10,000 in seed funding and expert advice to individuals, cooperatives and companies to develop their ideas.
  • Offer up to $130,000 in financial assistance and mentoring to scale a new product that is already advanced in development.
  • Identify ways to improve efficiency, services and outcomes for NSW fishers, fisheries and the seafood supply chain.

Minister for Agriculture Dugald Saunders said the competitive grants program will invest in new ideas and help address challenges facing the industry.

“We want to hear all your ideas, no matter how big or small, how weird or quirky, because it’s this kind of out-of-the-box thinking that will propel the sector into the future,” Mr Saunders said.

“A thriving seafood sector isn’t just good for business but it’s also a big win for communities, the environment and of course our commercial fishers.

“There’s also the potential to find ways to better utilise by-catch, in a range of fields including food, pharmaceuticals and nutritional supplements to make our fisheries resources more sustainable.”

The Seafood Innovation Program has been developed by NSW DPI, in partnership with the Fisheries Research and Development Corporation (FRDC) and an industry-led steering committee, made up of members with experience in the NSW seafood industry, product development and innovation processes.

All interested businesses and individuals should register to receive updates on the Seafood Innovation Program.

For more information or to apply visit - https://www.dpi.nsw.gov.au/fishing/seafood-innovation-program

MEDIA: Benn Ayre |Premier| 0428 342 325
Candice Giannakos |Minister Saunders| 0476 813 993