GreenGold Technology (Pty) Ltd
Individuals, small shops and stores, businesses (like fish markets), restaurants, supermarkets, wholesalers, farms or other institutions.
GreenGold Technology developed a farming methodology that is environmentally sustainable based on a closed loop system. In this system, there exists a symbiotic relationship between fish and phytoplankton (a microorganism) where one tank contains fish which produce harmful waste products such as carbon dioxide and ammonia and the other tank contains phytoplankton that convert carbon dioxide to oxygen and convert the ammonia into biomass. The water is now free of harmful waste which makes it suitable for the fish to survive.
Joash Govindsamy's mom is a huge supporter of his business venture, as such his operations currently take place in her garage and garden. This is where we received first hand insights into his innovative fish farming methodology.
What problem/s are you trying to address?
We sought to address the problems that exist with traditional fish farming, which include high chemical usage and waste levels. This waste can cause serious harm to the environment and natural ecosystems.
What has been the toughest challenge/s to overcome in your innovation journey?
My education background is in science, so developing business acumen and bridging the gap between science and business has been a challenge and continues to be a very important lesson during my journey.
Where do you see yourself and your innovation in 5 years’ time?
In the next 5 years, we plan to secure funding to expand our activities to meet demand and move into commercialisation in order to supply the final product to the market.
Joash points out that although capital to start a business is important, it takes more than money to run a company and you can develop many skills required to run a business even before you acquire funding. Additionally, the mountain of responsibility and work needed to start a new business can often be overwhelming and daunting. Therefore, it is important to be strategic in setting tasks. One way to achieve this is by implementing SMART (specific, measurable, assignable, relevant and time-based) goals, working diligently and consistently.
GreenGold Technology received prize money from winning the Innovate Durban Youth Innovation Challenge, from the International Labour Organisation and received seed funding from Invotech.