NovoNutrients is one of eight winners in this year’s Fish 2.0 business competition. Diverse panels of investor-judges chose the cash prize winners from among 22 presenters who came out on top in six regional and two global tracks. Judges picked the strongest business in each track based on the presenters’ 3-minute pitches and 5-minute question-and-answer sessions on stage at Stanford University. NovoNutrients,  Sunnyvale, California, which is using food-grade bacteria to make fish food from industrial carbon emissions, took home the prize in the Supply Chain Innovation category.

Leading up to the Innovation Forum, Fish 2.0 analyzed the market demands that companies in the Fish 2.0 network are responding to and found that five accelerating global trends are driving transformation in the seafood industry: the need to predict and understand climate change impacts; wild fish stocks nearing maximum yield; product globalization and the rise of online sales; the worldwide growth of a health-conscious middle class; and aquaculture’s rapid expansion. These five trends are opening up new markets in the seafood sector, and ventures around the world are racing to capture a share of the opportunities.

“Innovation in the seafood sector is growing like never before,” said Fish 2.0 founder and executive director Monica Jain. “Rapid technology advances and new players are coming to this previously traditional sector. We’re seeing creative products, services and business models that solve problems and remove barriers to both sustainability and growth of the seafood supply. These innovations are poised to create significant changes in the way seafood is produced, harvested and marketed over the next decade.”