Teem Fish Monitoring Inc. Company Profile

Background

Overview

Teem Fish Monitoring Inc. is a Canadian social enterprise specializing in electronic monitoring (EM) solutions for the fisheries industry. Established in 2019, the company focuses on providing affordable and scalable EM systems that enhance the safety, security, and compliance of fisheries operations. Teem Fish is headquartered in Prince Rupert, British Columbia, Canada.

Mission and Vision

The mission of Teem Fish is to facilitate collaboration between fish harvesters and regulators, supporting data-driven decisions that balance economic and ecological interests. Their vision is to be the global leader in fisheries and oceanographic data, driven by values such as innovation, collaboration, systems thinking, and purpose-driven actions.

Primary Area of Focus

Teem Fish specializes in the design and delivery of efficient and effective electronic fisheries monitoring programs. Their services include hardware installation, software integration, staff training, and ongoing technical support, all aimed at improving fisheries management and sustainability.

Industry Significance

As a federally designated fisheries monitoring service provider, Teem Fish plays a crucial role in enhancing the sustainability and profitability of fisheries. Their EM systems provide reliable, verifiable data that supports better decision-making for fish harvesters, fisheries managers, and resource-dependent communities.

Key Strategic Focus

Core Objectives

• Enhancing Operational Safety: Implementing EM systems that improve safety for crew members and observers.

• Simplicity and Usability: Developing user-friendly solutions that are easy to operate and maintain.

• Cost-Effective Operations: Providing affordable monitoring systems that reduce operational costs for fisheries.

Areas of Specialization

Teem Fish specializes in electronic monitoring solutions tailored to the unique needs of various fisheries, from artisanal to large commercial operations. Their expertise includes the integration of artificial intelligence (AI) in data capture and analysis to streamline processes and enhance data accuracy.

Key Technologies Utilized

• Electronic Monitoring Systems: High-resolution cameras, GPS units, and other sensors for comprehensive data collection.

• Artificial Intelligence: AI-driven data analysis to identify fish species, size, and bycatch, reducing manual review time.

Primary Markets Targeted

Teem Fish serves a diverse clientele, including:

• Vessel Owners: Enhancing operational capacity and ensuring regulatory compliance.

• Observer Companies: Improving safety and efficiency in fisheries monitoring.

• Regional Fisheries Management Organizations: Providing critical insights into bycatch, endangered species interactions, and habitat impacts.

Financials and Funding

Funding History

Teem Fish was established as a for-profit social enterprise by Ecotrust Canada in 2019. In 2021, Ecotrust Canada sold all its shares in Teem Fish for proceeds of $1,093,750, marking a significant milestone in the company's financial development.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly disclosed.

Notable Investors

The acquisition of Teem Fish by New Zealand-based SnapIT in 2021 has been a significant development. SnapIT specializes in AI-driven data storage and monitoring solutions, aligning with Teem Fish's mission to support sustainable fisheries management worldwide.

Utilization of Capital

The capital from the acquisition is expected to support the expansion of Teem Fish's operations, enhance technological capabilities, and strengthen its position in the global fisheries monitoring market.

Pipeline Development

Key Pipeline Candidates

Teem Fish is involved in several projects aimed at enhancing fisheries monitoring, including:

• Area A Crab Fleet in British Columbia: Implementing EM systems to support sustainable management of the Dungeness crab fishery.

• New England Groundfish Fishery: Collaborating with The Nature Conservancy and other partners to deploy EM systems for data collection comparable to at-sea monitoring programs.

Stages of Development

These projects are in various stages of implementation, with ongoing efforts to refine and expand EM systems to meet the unique needs of each fishery.

Target Conditions

The focus is on improving data collection for sustainable fisheries management, addressing challenges such as bycatch, endangered species interactions, and habitat impacts.

Anticipated Milestones

Milestones include the successful deployment of EM systems, data collection, analysis, and integration into fisheries management practices.

Technological Platform and Innovation

Proprietary Technologies

Teem Fish offers customized, robust data capture hardware, including:

• High-Definition Cameras: Equipped with 360-degree pan, tilt, and zoom capabilities.

• On-Board Systems: Capable of remotely transmitting data to shore.

• AI Integration: Incorporating AI in both data capture and analysis to reduce data review and storage requirements.

Significant Scientific Methods

The integration of AI-driven data analysis allows for:

• Species Identification: Accurate recognition of fish species.

• Size Estimation: Determining the size of fish.

• Bycatch Monitoring: Identifying and quantifying bycatch to inform management decisions.

Leadership Team

Key Executives

• Amanda Barney – CEO: With over two decades of experience in fisheries management and data systems, Amanda leads Teem Fish's strategic initiatives, integrating cutting-edge data and technology to transform fisheries monitoring and management worldwide.

• Theresa Rowsell – President & COO: Bringing over 20 years of executive experience, Theresa guides the company through its growth stages, focusing on profitability, sales growth, and operational excellence.

• Jillian Di Maio – New England and Groundfish Project Manager/Fisheries Director: Jillian manages operational and logistical aspects of the New England Groundfish project, leveraging her background in fisheries observer programs and gear types.

• Patrick Nugent – Fisheries Technical Support: With extensive experience in fisheries monitoring and management, Patrick provides technical support, including managing various EM projects and contributing to best practices in monitoring, control, and surveillance.

Leadership Changes

In 2021, Teem Fish was acquired by SnapIT, a New Zealand-based company specializing in AI-driven data storage and monitoring solutions. This acquisition is expected to enhance Teem Fish's technological capabilities and expand its global reach.

Competitor Profile

Market Insights and Dynamics

The global fisheries monitoring market is experiencing growth due to increasing regulatory requirements and the need for sustainable fishing practices. Technological advancements, particularly in AI and electronic monitoring, are driving innovation and competition in this sector.

Competitor Analysis

Key competitors in the electronic fisheries monitoring space include:

• Archipelago Marine Research Ltd.: Provides electronic monitoring services for fisheries, focusing on data collection and analysis.

• Saltwater Inc.: Offers electronic monitoring services with a focus on data collection and reporting for fisheries.

• Satlink US, LLC: Provides satellite communication and electronic monitoring solutions for fisheries management.

Strategic Collaborations and Partnerships

Teem Fish collaborates with various partners to enhance its offerings:

• SnapIT: The acquisition by SnapIT in 2021 has strengthened Teem Fish's technological capabilities and market presence.

• Ecotrust Canada: As the founding organization, Ecotrust Canada continues to support Teem Fish's mission and growth.

Operational Insights

Strategic Considerations

Teem Fish's strategic focus on affordability, scalability, and technological innovation positions it well in the competitive landscape.