FANBEST is co-financed by the European Regional Development Fund, total budget of €2,593,636.36, including ERDF fund of €1,945,227.27.
FANBEST is aimed 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.
The Atlantic Area business environment is composed mainly of SMEs whose innovation capacity is undermined by:
- Disconnection between the business environment and the innovation system and lack of knowledge from both sides: market agents regarding the lines of research and its results and research centres about the market and business potential.
- Difficulty for the Atlantic Area companies linked to the maritime economy to access external financing to undertake innovative projects and developing value products.
This factor can block their possibilities of growing, to move forward to the “scaling-up phase” and to become more competitive on a global market.
The project is defined with a wide representation both territorial and the necessary typologies of partners. The partnership combines diver skills and expertise. On one hand the key players in the process of transferring research results in the field of blue biotechnology and research in sustainable use of marine resources.
Other partners can bring diverse skills and knowledge in increasing competitiveness and international dimension in companies, with experience and skills in supporting entrepreneurship and start-ups, including their internationalization.
For more information on this research, please visit the FANBEST website.