The European Union’s BlueInvest platform is a pioneering initiative aimed toward accelerating innovation and funding alternatives within the sustainable blue financial system.
The European blue financial system has grown sooner than the general land-based financial system over the previous decade and has been quickly modernizing. Alongside its conventional sectors (fisheries, aquaculture, transport, ports, coastal tourism), revolutionary blue financial system actions, comparable to ocean renewable vitality, blue bio-economy and bio-technology, and desalination, are evolving.
To help the sustainable blue financial system and mobilise non-public capital, the European Fee arrange BlueInvest in 2019 with a complete finances of € 9.8 million to assist maritime startups and SMEs which have transformative improvements in accessing non-public capital.
Since its launch, BlueInvest has straight benefited over 330 start-ups and scale-ups within the sustainable blue financial system, serving to them safe greater than € 300 million in investments. The platform has additionally engaged over 300 traders and enabled the launch of recent devoted blue funds.
A hub for collaboration
The BlueInvest platform works as a hub for collaboration between traders, corporations, and enterprise help organisations. The platform offers a variety of providers, together with:
- Teaching and mentoring for startups and SMEs by help programmes to spice up their investment-readiness;
- BlueInvest venture pipeline: a database showcasing revolutionary, scalable, and sustainable maritime ventures, connecting them with traders to drive Blue Financial system progress and funding alternatives;
- Occasions and matchmaking alternatives between traders and corporations;
- help monetary intermediaries and fund managers looking for to extend their funding within the blue financial system by investor capability constructing classes and experiences concerning the investing panorama of the EU blue financial system.
Moreover, BlueInvest takes a sea basin-specific focus, for instance for the Baltic and Black Seas, the place it collaborates with native stakeholders to help the event of ocean-based improvements whereas selling funding alternatives that drive regional financial progress.
BlueInvest has been featured on the Euronews episode of the Ocean collection in November 2024. You may watch the episode right here.
Underwater Web of Issues: A actuality additionally due to BlueInvest
One instance of the impression of BlueInvest is WSense, a deep-tech spin off from the College of Sapienza, that allows seamless communication underwater. As typical Wi-Fi faces limitations in aquatic surroundings, WSense’s innovation revolutionises real-time monitoring and surveillance of aquatic environments, with numerous purposes throughout vitality, infrastructure, aquaculture, and cultural heritage sectors.
With help from their BlueInvest coach and one other European initiative (EIT Digital), the corporate was capable of elevate €11 million in funding in December 2023. Additionally they acquired funding below the European Maritime and Fisheries Fund (EMFF, now EMFAF).
WSense’s workforce, now 50 sturdy, is ready to double in measurement within the subsequent three years, positing them as a frontrunner in underwater Web of Issues and wi-fi networking.
Harnessing clear ocean vitality from tidal waves: Magallanes Renovables and BlueInvest
One other instance is Magallanes Renovables, a Spanish firm that harnesses clear ocean vitality by tidal currents. Their revolutionary “ATIR” platform is a 45-meter-long floating system that blends naval and wind engineering to ship 100% predictable, cost-effective vitality.
Because of the BlueInvest teaching that helped refine the corporate’s marketing strategy and put together them for fundraising, Magallanes Renovables has attracted investments and exceeded business objectives, securing permits to deploy in Wales.
Wanting forward, Magallanes Renovables plans to be recognised as a worldwide chief in tidal vitality, advancing the EU’s imaginative and prescient for 1 GW of ocean vitality capability by 2030.
Linking to different EU Initiatives
BlueInvest is a part of a broader EU initiative to help the sustainable blue financial system. The platform is working along with different EU funding programmes, such because the European Maritime, Fisheries and Aquaculture Fund (EMFAF), to drive innovation and funding within the blue financial system sector.
The BlueInvest platform is a shining instance of the EU’s dedication to supporting innovation and funding within the sustainable blue financial system. By driving progress and innovation within the sector, the platform helps to create a sustainable future for the blue financial system in Europe.
“BlueInvest is an EU platform and technical help facility to speed up ocean-based applied sciences and options to unlock innovation and associated funding alternatives. It’s enabled by DG MARE due to the European Maritime, Fisheries and Aquaculture Fund (EMFAF), and supported by the European Funding Financial institution Group.”
Catherine Frideres, Programme Director, BlueInvest
Begin date
30 Apr 2019 Challenge places
Belgium Total finances
€9,800,000EU contribution
€9,800,000
100% of the general budget venture web site
Funding
-
- Funding programme
European Maritime, Fisheries and Aquaculture Fund (EMFAF) (2021/2027)