Through August 19, Blue Bio Value (BBV) is accepting applications for its blue bioeconomy acceleration program in Lisbon.
The initiative is aimed at attracting projects and ideas that represent a business opportunity along the chain of marine bioreactors, including biotechnology, and whose solution is the development of sustainable products or services whose exploitation results in a positive impact on the development of sustainable ocean activity.
The Blue Bio Value acceleration program is looking for aspiring and committed entrepreneurs that are able to develop commercially viable projects along the value chain of marine bioresources.
These include startups that are at prototype or launch stages or above; SMEs aiming to develop a new product line, and/or teams with projects that can demonstrate high potential to rapidly scale up to viable market applications.
Teams must be made up of at least two members with a maximum of four, and they must be able to move to Lisbon for eight weeks.
The announcement of the winning entries will be on August 31, and the first edition of the blue bioeconomy acceleration program will begin on September 25. The selection criteria will take into account three key aspects:
1) Strong scientific and technological component
2) High added value
3) Framework in the blue bioeconomy
The Blue Bio Value acceleration program will run for eight weeks between September and November.
During this period, the BBV program will assist entrepreneurs in validating their technology, identifying key customer segments, developing a profitable and sustainable business model, building customer relationships, being prepared for fundraising and for investor meetings and taking their marine bio products to market.
Perks include:
- Access to the Biomarine Business Convention 2018 and My Blue City, in Cascais
- The best 2 startups will be given entry tickets to the Biomarine Business Convention 2019
- 1-year membership in Bluebio Alliance, the Portuguese Network for marine bioresources and blue biotechnology, which gives you access to several benefits
- Access to legal advice via Bluebio Alliance (with Vieira de Almeida and Miranda)
- Access to some of the best research and technological centers and labs in Europe
- Discounts and benefits with several platforms: Amazon Web Services, Hubspot and Sendgrid
The program’s promoters and partners believe that the blue bioeconomy will play a crucial role in responding to some of the greatest challenges we face today and as such, this year’s edition is focused on finding solutions to 4 major challenges:
- How to feed a growing population
- Climate change and reduction of CO2 emissions
- Scarcity of resources and reduction / replacement of plastics
- Welfare solutions for a more aged population
With this program, the Fundação Oceano Azul and the Fundação Calouste Gulbenkian join forces to contribute to Portugal becoming a relevant and innovative European hub in the development of the most modern marine bioeconomics, promoting a more sustainable use of the ocean.
The Blue Bio Value acceleration program also aims to take advantage of Portugal’s growing emergence as a place of choice to attract innovative startups and entrepreneurs, as has been happening in particular in the IT and Web areas.
The Fundação Oceano Azul and the Fundação Calouste Gulbenkian have committed to invest at least 1 million euros in the three years of implementation of the Blue Bio Value program and intend to accelerate between 10 and 20 Portuguese and foreign companies per year.