Portrait of Jaco Chan Kit Waye, co-founder of Indian Ocean Trepang in MadagascarSubmitted by Admin on Tue, 10/25/2016 - 19:32
A true "Serial entrepreneur" highly committed on environmental issues, Jaco Chan Kit Waye created the first Malagasy business specialized in the aquaculture of sea cucumbers, Indian Ocean Trepang (IOT).
Jaco Chan Kit Waye has long been involved in entrepreneurship. In 1995 he creates Copefrito, a company specialized in the octopus and squid industry. Thanks to its high standards, the company is able to sell its products on the European market and has become a leader of the sector in Madagascar.
Deeply committed on environmental and social issues, Jaco partnered with a community of fishermen and several NGOs to develop the first natural resources management site of Madagascar, aimed at protecting marine life and improve the living conditions of the fishermen. In 2004, Jaco is appointed “manager of the year” of Malagasy SMEs.
In 2008 Jaco starts the project Indian Ocean Trepang, with the ambition of launching the first industrial aquaculture of sea cucumbers in Madagascar, based on an exclusive growing technique developed by a team of university searchers.
After a first successful production of 200 000 sea cucumbers, Jaco and his partners contact Investisseurs & Partenaires to develop the infrastructure needed to industrialize the process. Established in South of Madagascar, one of the poorest and most isolated regions of the country, IOT pursues a twofold objective: preserve marine wildlife and improve the living conditions of local fishermen. As expressed by Jaco, “We all gain from it : the fishing community, the partner NGO, and us. An SME has the advantage of being imaginative and finding solutions to the problems faced in Madagascar.”
To find out more on IOT, see the film made for "Small is Powerful"