Lagau Malu Aidal ... means 'Island Seafood' in our western Torres Strait language. We sell seafood - but we do it with a difference! Our goal is to establish a community-owned facility for local Torres Strait Islanders - to maintain economic sustainability in our waters.
Local Torres Strait Islander families collectively control roughly 66% of the catch quota in the Torres Strait's $35million annual tropical rock lobster (painted crayfish) industry, holding around 500 'Indigenous Traditional Inhabitant Fishing Boat Licences'.
BUT WE STILL SEE MINIMAL PROFITS...
because a small number of large companies control most of the market through inequitable commercial arrangements. Our people have little bargaining power, and we watch the majority of our product leave the Torres Strait waters with no say over where it goes around the globe.
We are establishing avenues for opportunities to increase the contributions that local Torres Strait Islander families make to commercial arrangements involving Torres Strait seafood. We plan to change this by using equity crowdfunding to bring the power of everyone to our community owned and operated facility, to benefit our Torres Strait Islander people.
We want Lagau Malu Aidal to be collectively owned by our local communities across all the Torres Strait islands and mainland Australia, connecting with others who want to support us and our goals.
To do this we will sell shares, which are the unit of ownership in our company. We are working with PledgeMe who is a licenced Crowd Sourced Funding Intermediary regulated by the Australian Securities and Investment Commission (ASIC).
By purchasing shares you are buying a piece of a company, which makes you a part-owner. As an owner, you have voting rights on company decisions and there is the potential to make money from your investment.
Depending on how much you invest we will be offering a variety of shareholder benefits such as first buying rights, discounts, and even a visit to the island communities for those on the mainland. We are also taking requests on what you would like to see!
Our operations are focused on purchasing products from indigenous suppliers in the Torres Strait Islands who collectively control over 66% of the catch quota for the region's $35million dollar Tropical Rock Lobster (known to us as 'painted crayfish') industry.
In the 2017-18 year we successfully tested the first phase of our business model, receiving and processing product from the Torres Strait, for sale to customers in Brisbane, Gold Coast, Sydney and Melbourne. We now have established customer relationships who are seeking supply in tonnage, and need to increase our capacity for both processing and distribution.
Our shared vision is to empower local Torres Strait Islander divers and family fishing operations by ensuring that all Torres Strait families have the opportunity to benefit from the seafood supply chain process and share in the majority of profits.
We plan to scale our business to a full commercial operation by raising capital to establish a processing and distribution facility in the heart of the Torres Strait Islands.
We are the Bowie family from the Argan tribe of Badu - an island in the Torres Strait, between North Queensland and Papua New Guinea. As a family, we have a history of forward-thinking vision. Our parents, Albert & Nancy, blazed trails in our community by taking steps that no one else would. This included home-schooling and entrepreneurship.
They even took steps through our family lines, to commercialise aspects of our heritage, including an ongoing relationship with Dreamworld on the Gold Coast, Australia. We’ve been in business for more than 25 years.