SeaCulture for the Win: Croc Pitch 2026’s Tightest Call Yet
Darwin, 9 September 2026: A packed, loud and attentive audience including government, industry, investors press and Indonesian Consulate members at the Darwin Innovation Hub saw North Australian SeaCulture (NASC), a Northern Territory seaweed cultivation and biorefining company, named winner of Croc Pitch 2026, putting it in line for up to $1 million in venture capital from Paspalis Capital, subject to due diligence. But the judging didn’t stop there. Deliberations from the Paspalis Investment Committee ran unusually long, and in an unprecedented move, fellow finalists NatureHelm and Drone-Hand are also now entering due diligence for potential investment.
NASC grows and processes native tropical seaweed into soil products that help mine sites hit rehabilitation targets they cannot currently meet with existing methods. Lab trials show up to 75 percent higher seed germination against a 50 percent regulatory benchmark, with paid trials underway with a major miner and NASC’s first cultivation site already running at the Darwin Waterfront Lagoon. Founder and CEO Alison Duguid is a fifth-generation Territorian, and a member of the extended Fong Lim family, which includes former Darwin Lord Mayors Alec and Katrina Fong Lim.
The winner was announced by Hon Robyn Cahill OAM, Minister for Trade, Business and Asian Relations, who congratulated the finalists and celebrated the Territory’s growing innovation ecosystem. “Every single one of the finalists is doing extraordinary things, and they are here telling their story and putting forward the opportunity that they believe in. Every one of them are deserving. Our clear skies, available land, and our proximity to Asia really do create the opportunity that you will not find anywhere else. I’m absolutely delighted to say the winner is North Australian Sea Culture, a Territory business securing up to $1 million in venture capital from Paspalis Capital for its work developing regional seaweed supply chains for soil rehabilitation, cosmetics, food and textiles.”
Alison Duguid, CEO and Founder of NASC, said: “I’m so honoured to have been selected as the winner of croc pitch 2026, in particular because the competition was so great. I’m looking forward to continuing to develop the seaweed industry in the territory and kick some big goals in 2027!”
This year’s Croc Pitch brought three Australian founders to the stage, all tackling agriculture and biodiversity restoration in Northern Australia, each from a completely different technology angle: NatureHelm, a biodiversity intelligence platform that turns nature risk into new financial opportunity for agribusiness, real-asset investors and resource companies, pitched by Dr Debbie Saunders, Co-Founder and CEO; Drone-Hand, an autonomous livestock management platform giving remote cattle stations real-time visibility over stock, water and infrastructure without adding vehicle or aircraft hours, pitched by Edward Barraclough, Founder and CEO; and North Australian SeaCulture (NASC), pitched by Alison Duguid, CEO and Founder. NASC was named Croc Pitch 2026 champion, with NatureHelm and Drone-Hand also advancing into due diligence for potential investment.
The three finalists were selected from a pool of registrations spanning Australia and overseas, with entries from as far afield as Pakistan, India, Singapore and Hong Kong.
On stage, each founder faced sharp questioning from the Croc Pitch panel of experts: Alex Farrugia, Investment Manager at Paspalis Capital; Larnie Batten, Director of the Innovation Activation team at the Northern Territory Government’s Department of Trade, Business and Asian Relations; and Professor Steve Rogers, Deputy Vice-Chancellor of Research and Community Connection at Charles Darwin University.
Deliberations were intense. Following the live pitches, the Paspalis Investment Committee named North Australian SeaCulture (NASC) Croc Pitch 2026 champion, while confirming NatureHelm and Drone-Hand would also progress into due diligence for potential investment.
Alex Farrugia, Investment Manager Paspalis Capital, said: “This was the closest call we’ve had at Croc Pitch. All three founders walked in with real traction and a business we could see ourselves backing, and it took the committee a lot longer than usual to land on a winner. North Australian SeaCulture earned that win, but we weren’t willing to let NatureHelm or Drone-Hand walk away, so both are now going through due diligence alongside them. It’s the strongest field we’ve seen, and we want a piece of all three.”
By the time this year’s finalists reached the stage, they had already been tested. Croc Camp sharpened each finalist’s pitch with guidance from industry mentors, and Paspalis Investment Manager Alex Farrugia worked with them one-on-one, pulling apart decks and rehearsing the toughest questions before the panel could ask them.
That process has paid off in the past as attested by past Croc Pitch contestant and this year’s guest speakers. Frank Noppel, CEO of 2023 runner-up Blueflite: “We pitched in 2023, we came second, and still got Blueflite over 1 million dollars in investment from Paspalis,” Noppel said. “Our time leading up to the event and the time after – meeting people and building relationships – mattered just as much…”
Shoaib Iqbal, CEO of 2024 winner Esper Satellites: “The NT has been a really great test-bed opportunity for us, from running pilots to test things with multiple customers, all the way to having engagements with state governments to see what their needs are. For instance with mineral exploration where we’ve been speaking with the NT Geological Survey…” Iqbal said.
Now in its 8th year, Croc Pitch has become Northern Australia’s premier pitching competition — where bold founders compete for a chance at up to $1 million in venture capital from the Paspalis Innovation Investment Fund. All investments are subject to due diligence.
The event is hosted by the Darwin Innovation Hub, with support from Paspalis Capital (Major Sponsor), the Northern Territory Government, Business Enterprise Centre NT, and Charles Darwin University.
Together, these partners are positioning the Northern Territory as a gateway for investment in Northern Australia and the Asia Pacific, showcasing the North as a place where frontier technologies can be tested, proven, and scaled to global markets.
About the Winner
SeaCulture – An Australian seaweed innovation company developing regional seaweed supply chains for soil rehabilitation, cosmetics, food and textiles
North Australian SeaCulture (NASC) grows and processes native tropical seaweed into soil products that help mine sites hit rehabilitation targets they cannot currently meet with existing methods. Lab trials show up to 75 percent higher seed germination against a 50 percent regulatory benchmark, with paid trials underway with a major miner and NASC’s first cultivation site already running at the Darwin Waterfront Lagoon.
“I’m so honoured to have been selected as the winner of croc pitch 2026, in particular because the competition was so great. I’m looking forward to continuing to develop the seaweed industry in the territory and kick some big goals in 2027!”
Alison Duguid, CEO & Founder
About the Finalists
Drone-Hand – An Australian agtech company using autonomous drones, fixed cameras and machine learning to improve livestock monitoring, mustering and land management
Drone-Hand’s autonomous livestock management platform sends the drone first, giving remote cattle stations real-time visibility over stock, water and infrastructure without adding vehicle or helicopter hours. Built on offline, edge-AI software proven with JBS at over 99.9 percent accuracy, the platform already deploys across large stations, feedlots, small farms and off-site operations, with a Darwin joint venture planned to assemble and support long-range aircraft locally.
“What an incredible outcome from CrocPitch! A huge congratulations to Alison and the SeaCulture team on the win, and we’re thrilled that Paspalis has chosen to progress all of the finalists through to due diligence. It’s a fantastic vote of confidence, and we’re incredibly excited about what this could mean for Drone-Hand, our plans in Northern Australia, and the opportunity to create new capability, jobs and investment here in Darwin and across the NT.”
Edward Barraclough, Founder & CEO
NatureHelm – An Australian biodiversity technology company helping businesses measure, understand and manage their environmental risks and impacts
NatureHelm’s flagship platform turns nature risk into new financial opportunity for agribusiness, real-asset investors and resource companies. By pulling government, research, citizen science and client field data into a single biodiversity digital twin for every business location, NatureHelm gives clients streamlined, industry-aligned metrics for compliance, risk and capital access, already tracking more than 5.5 million hectares for clients including $12 billion asset manager New Forests and New Agriculture’s Kimberley pastoral holdings.
“We’re incredibly excited that NatureHelm has been selected by the Paspalis investment committee to proceed to due diligence. This is an amazing opportunity for us to expand operations into the Northern Territory, establish formal partnerships with Charles Darwin University, the Northern Territory government and the Darwin Innovation Hub to demonstrate how Australia can lead the world in advancing business resilience and driving new nature-related markets and financial opportunities.”
Dr Debbie Saunders, CEO & Co-Founder
About Croc Pitch
Now in its 8th year, Croc Pitch has cemented itself as Northern Australia’s premier pitching competition — connecting global entrepreneurs with investors and industry leaders for a shot at up to $1 million in venture capital from the Paspalis Innovation Investment Fund. All investments are subject to due diligence. Hosted by the Darwin Innovation Hub, and backed by Paspalis Capital, the Northern Territory Government, Business Enterprise Centre NT, and Charles Darwin University, Croc Pitch continues to showcase the North as a launchpad for technologies that solve real-world problems and scale to global markets.
About Paspalis
Paspalis is the first and leading innovation investor in the Northern Territory, dedicated to supporting high-growth innovation companies locally and globally. Their mission is to harness the potential of these companies in emerging sectors within Australia’s North. Paspalis actively co-invests alongside public and private institutions, including the Northern Territory’s Local Jobs Fund. They invest in both Australian and offshore high-growth companies seeking to expand their businesses in the Northern Territory. Read more about Paspalis at paspalis.com.au.
