BlueInvest Platform: Accelerating the European blue economy

The European Union’s BlueInvest platform is a pioneering initiative aimed at accelerating innovation and investment opportunities in the sustainable blue economy. 

The European blue economy has grown faster than the overall land-based economy over the past decade and has been rapidly modernizing. Alongside its traditional sectors (fisheries, aquaculture, transport, ports, coastal tourism), innovative blue economy activities, such as ocean renewable energy, blue bio-economy and bio-technology, and desalination, are evolving.

To support the sustainable blue economy and mobilise private capital, the European Commission set up BlueInvest in 2019 with a total budget of € 9.8 million to help maritime startups and SMEs that have transformative innovations in accessing private capital.

Since its launch, BlueInvest has directly benefited over 330 start-ups and scale-ups in the sustainable blue economy, helping them secure more than € 300 million in investments. The platform has also engaged over 300 investors and enabled the launch of new dedicated blue funds.

A hub for collaboration 

The BlueInvest platform works as a hub for collaboration between investors, companies, and business support organisations. The platform provides a range of services, including:

• Coaching and mentoring for startups and SMEs through assistance programmes to boost their investment-readiness;
• BlueInvest project pipeline: a database showcasing innovative, scalable, and sustainable maritime ventures, connecting them with investors to drive Blue Economy growth and funding opportunities;
• Events and matchmaking opportunities between investors and companies;
• support financial intermediaries and fund managers seeking to increase their investment in the blue economy through investor capacity building sessions and reports about the investing landscape of the EU blue economy.

Furthermore, BlueInvest takes a sea basin-specific focus, for example for the Baltic and Black Seas, where it collaborates with local stakeholders to support the development of ocean-based innovations while promoting investment opportunities that drive regional economic growth.

BlueInvest has been featured on the Euronews episode of the Ocean series in November 2024. You can watch the episode here.

Underwater Internet of Things: A reality also thanks to BlueInvest

One example of the impact of BlueInvest is WSense, a deep-tech spin off from the University of Sapienza, that enables seamless communication underwater. As conventional Wi-Fi faces limitations in aquatic environment, WSense’s innovation revolutionises real-time monitoring and surveillance of aquatic environments, with diverse applications across energy, infrastructure, aquaculture, and cultural heritage sectors.

With support from their BlueInvest coach and another European initiative (EIT Digital), the company was able to raise €11 million in funding in December 2023. They also received funding under the European Maritime and Fisheries Fund (EMFF, now EMFAF).

WSense’s team, now 50 strong, is set to double in size in the next three years, positing them as a leader in underwater Internet of Things and wireless networking.

Harnessing clean ocean energy from tidal waves: Magallanes Renovables and BlueInvest 

Another example is Magallanes Renovables, a Spanish company that harnesses clean ocean energy through tidal currents. Their innovative “ATIR” platform is a 45-meter-long floating system that blends naval and wind engineering to deliver 100% predictable, cost-effective energy. 

Thanks to the BlueInvest coaching that helped refine the company’s business plan and prepare them for fundraising, Magallanes Renovables has attracted investments and exceeded commercial goals, securing permits to deploy in Wales.

Looking ahead, Magallanes Renovables plans to be recognised as a global leader in tidal energy, advancing the EU’s vision for 1 GW of ocean energy capacity by 2030.

Linking to other EU Initiatives

BlueInvest is part of a broader EU initiative to support the sustainable blue economy. The platform is working together with other EU funding programmes, such as the European Maritime, Fisheries and Aquaculture Fund (EMFAF), to drive innovation and investment in the blue economy sector.

The BlueInvest platform is a shining example of the EU’s commitment to supporting innovation and investment in the sustainable blue economy. By driving growth and innovation in the sector, the platform is helping to create a sustainable future for the blue economy in Europe.

“BlueInvest is an EU platform and technical assistance facility to accelerate ocean-based technologies and solutions to unlock innovation and related investment opportunities. It is enabled by DG MARE thanks to the European Maritime, Fisheries and Aquaculture Fund (EMFAF), and supported by the European Investment Bank Group.”

Catherine Frideres, Programme Director, BlueInvest

Start date

30 Apr 2019 Project locations

Belgium Overall budget

€9,800,000EU contribution

€9,800,000

100% of the overall budget project website

Funding

• • Funding programme
  European Maritime, Fisheries and Aquaculture Fund (EMFAF) (2021/2027)

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