IT/IoT Business Creation –  Cross Border Business Opportunities Creation Empowered by Modern IT and IoT Technologies

The IT/IoT Business Creation project plans to solve the problem of technological, business and environmental sustainability of aqua-culture (AC) SMEs in Republic of Karelia (Karelia) and Finland by empowering these SMEs with innovative solutions of Internet of Things (IoT) and Modern Information Technologies (mIT). Lead by the Institute of Applied Mathematical Research of Karelian Research Centre Russian Academy of Sciences, the project gathers a total of 8 partners, including academic and non-academic institutions.

AC is an important blue bioeconomy industry growing rapidly, and both Karelia and Finland have a large potential for its growth due to abundant water resources. For instance, the Finnish strategy highlights the need for business networks and sustainable use of the resources, including AC.

Due to abundant water resources, shared border and close climate conditions, both Finland and Karelia have large potential to sustain growth of AC industry. To meet the growing needs and solve the problems, the AC industry should increase its competitiveness, adapt new technologies, and establish cooperation among AC industry stakeholders. Rapid growth of IT, rise of IoT allow to improve interaction with suppliers, consumers and partners, provide continuous monitoring of production processes, automate control, etc. Finally, it gives opportunities to improve business efficiency, reduce prime costs, improve competitiveness and low environmental impact of AC SMEs. The project’s total budget amounts to 468 000, 00 €.