TEAM: MIMY1 2

ECONET

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ECONET, A LEADER IN ENVIRONMENTAL MANAGEMENT AND SUSTAINABILITY, IS DEDICATED TO ADDRESSING A CRITICAL CHALLENGE WITHIN THE FISHING INDUSTRY: THE HARMFUL EFFECTS OF BYCATCH, WHICH DERIVES INTO A LOT OF OTHER PROBLEMS LIKE SPECIES ENDANGERMENT, INEFFICIENT RESOURCE USE, REVENUE LOSS FOR FISHERMEN, AND ILLEGAL SELLING PRACTICES. OUR SOLUTION COMBINES ADVANCED TECHNOLOGY WITH ESCAPE PANELS WITHIN FISHING NETS TO PROACTIVELY COMBAT THESE ISSUES. BY INCORPORATING A SQUARE MESH DESIGN, LED LIGHTS, SOUND WAVES, AND STRATEGICALLY POSITIONED ESCAPE PANELS, OUR SOLUTION SIGNIFICANTLY REDUCES BYCATCH WHILE PRESERVING TRADITIONAL FISHING METHODS. THIS APPROACH ENABLES JUVENILE FISH AND NON-TARGET SPECIES TO ESCAPE, THEREBY SAFEGUARDING FISH STOCKS, PROTECTING SENSITIVE MARINE LIFE, AND PROMOTING SUSTAINABLE FISHING PRACTICES.

THE VALUE PROPOSITION OF OUR SOLUTION LIES IN ADVANCING SUSTAINABLE FISHING PRACTICES BY MINIMIZING ENVIRONMENTAL IMPACT AND SUPPORTING THE LONG-TERM HEALTH OF MARINE ECOSYSTEMS. ECONET'S SOLUTION ALIGNS WITH GLOBAL SUSTAINABILITY GOALS, INCLUDING THE 2030 AGENDA FOR SUSTAINABLE DEVELOPMENT, THE PARIS AGREEMENT, AND THE EU GREEN DEAL. WITH A COMPREHENSIVE EXECUTION PLAN ENCOMPASSING FINAL TESTING, PRODUCTION, MARKETING, EDUCATION, AND ONGOING SUPPORT, ECONET IS SET TO LAUNCH OUR INNOVATIVE SOLUTION INTO THE MARKET. SUPPORTED BY PARTNERSHIPS WITH ENVIRONMENTAL ORGANIZATIONS LIKE THE MARINE STEWARDSHIP COUNCIL, WHICH

CERTIFIES FISHERIES THAT ARE SUSTAINABLY MANAGED, WE ANTICIPATE STRONG DEMAND FOR OUR BYCATCH REDUCTION TECHNOLOGY. OUR BUSINESS PROJECT IS FINANCIALLY SUPPORTED BY THE CONTINUOUSLY INCREASING GLOBAL REVENUE IN THE FISH AND SEAFOOD SEGMENT, EXPECTED TO REACH APPROXIMATELY $195.1 BILLION WORLDWIDE BY 2028. THIS GROWTH IS COMPLEMENTED BY THE GROWING MARKET OF CONSUMERS PURCHASING SUSTAINABLE SEAFOOD PRODUCTS, WITH A 29% INCREASE FROM 2019 TO 2021 AND AN 83% GROWTH PROJECTION BY 2028. THESE TRENDS NOT ONLY INDICATE A RISING DEMAND FOR SUSTAINABLE SEAFOOD PRODUCTS BUT ALSO PROVIDE A SOLID FOUNDATION FOR REVENUE PROJECTIONS, THUS ESTABLISHING THE FINANCIAL VIABILITY OF THE PROJECT.

CONSIDERING OUR PROJECTED 0.001% SHARE IN THE TOTAL FISHING MARKET, GENERATING REVENUE CLOSE TO $1.3M, AND WITH AN INITIAL PRODUCTION COST OF ONLY $779,402, THE FINANCIAL POTENTIAL OF OUR PROJECT BECOMES EVIDENT. THIS ANALYSIS REVEALS AN ESTIMATED NET PROFIT OF $601,000, CONSIDERING A MARKET PRICE OF $857,000. THESE FIGURES, IN ADDITION TO REFLECTING OUTSTANDING OPERATIONAL EFFICIENCY, HIGHLIGHT THE ROBUST PROFITABILITY POTENTIAL THE PROJECT HOLDS. THUS, IT PRESENTS ITSELF AS A PROMISING OPPORTUNITY IN A GROWING MARKET SEEKING SUSTAINABLE AND HIGH-QUALITY OPTIONS IN THE SEAFOOD PRODUCT SECTOR. IN CONCLUSION, ECONET'S INNOVATIVE SOLUTION REPRESENTS BREAKTHROUGH INNOVATION FOR THE FISHING INDUSTRY, OFFERING A PRACTICAL AND ECONOMICALLY VIABLE WAY TO ADDRESS ONE OF ITS MOST PRESSING ENVIRONMENTAL CHALLENGES. WITH A CLEAR FOCUS ON SUSTAINABILITY AND ENVIRONMENTAL MANAGEMENT, WE ARE COMMITTED TO MAKING A POSITIVE IMPACT ON THE HEALTH OF OUR OCEANS AND THE FUTURE OF OUR PLANET.