Funding Atlantic Network for Blue Economy Technology Transfer
Grant Agreement: EAPA_1022/2018
Type: INTERREG | Atlantic Area
Duration: 42 months (01/01/2019 - 30/06/2022)
Status: Ongoing
Coordinator: University of Santiago of Compostela, Spain.

USC – Universidade de Santiago de Compostela. Research Group of Applied Financial Valuation (Spain)
GMCC – Greater Manchester Chamber of Commerce (United Kingdom)
University of Exeter – Business School (United Kingdom)
IT Tralee – Centre for Entrepreneurship and Enterprise Design. Institute of Technology Tralee (Ireland)
DCU Ryan Academy (Ireland)
FRCT – Fundo Regional para a Ciência e Tecnologia (Portugal)
Orange Bird Crowdfunding (Portugal)
Oceáno Azul (Spain)
Atlantpole (France)
Vertigo Lab (France)

Associated partners
Local Enterprise Office Kerry (Ireland)
Cornwalll Chamber of Commerce (United Kingdom)

Aim of the Project:

The project’s objective is to foster the technology transfer to SMEs in blue biotechnology and exploitation of marine resources by creating a network of public and private entities focused on the fund raising that make possible the start and scale-up phase. Funds such venture, business angels, participatory loan or crowdfunding will be offered by tools and services, so that the technologies and innovations “made in Atlantic regions” can reach the market turned into successful business projects.

FRCT Involvement:
FRCT will provide support in the general coordination of work packages, communication, capitalization, dissemination and spreading the results of the project. In the thematic WPs, FRCT participates in the identification of potential financial agents and beneficiaries within the R+D+i in blue sectors. Together with the other partners will participate in the transnational training Programme and development of other tools and actions to recruit the key stakeholders for this project. Also, it will play a role as coach and monitor of the innovative projects/business ideas supported by the network in blue biotechnology and marine resources, developing a suitable approach to help them operate at transnational markets. Finally, FRCT will also organize a public event as part of WP2 to disseminate the project and to bring together innovative business and investors in the blue sector.

Impact on the Azores Region:
The FANBEST project will allow to know the potential of R&D generated in universities, companies and other centres in the Atlantic regions related to the blue sector, in particular blue biotechnology and marine natural resources, as well as the mapping of existing agents and stakeholders, with information about the actors that can play a relevant role in attracting investment for innovative business projects.
The tools and actions necessary to establish effective support for innovation projects in blue economy will have direct effects to improve the ecosystem of entrepreneurs and start-ups, in order to facilitate and materialize the transfer of innovations to the market. As a final product, the project will develop a Manual for financing innovation in start-ups and new companies in the Atlantic regions.

The regional financial impact is 105,370.36 €

Regional Stakeholders Involved: SDEA, DRCT, Blue sector companies (non-project partners)
Financial Overview
Consortium Budget
Partners Contribuition EU Contribuition Total
648 409.09€1 945 227.27€2 593 636.36€
FRCT Budget
26 342.59€79 027.77€105 370.36€