FANBEST is focused on the transfer of research results to the SMEs from the Atlantic region which are linked to the biotechnology and marine resources applied to the “Blue Growth”, focusing on one of the most critical factors for their success: the access to funds to finance the adoption of innovation and R+D results and its commerce.
Most of the startups at the beginning of their activity cannot afford easy access to the research results and technologies that the knowledge and I+D centers are currently generating. This factor can block their possibilities of growing, to move forward to the “scaling-up phase” and to become competitive. We´ll pursue a network of entities operating as agents, providers of funding and coach, that will test innovative approaches related to the financing and the technology market evaluation. The application of their knowledge to the whole transfer process will make the scale-up jump of companies, startups and spin-offs.
- Improving the knowledge about the funding needs and the potential of technology transfer (Special attention to projects led by women).
- Taking advantage of the knowledge and opportunities from business angels and other not-banking backers and instruments to be applied with SMEs of the Blue economy that do not have the necessary size to access to R&D projects funding and, therefore, to venture financing.
- Positioning the universities as agents that become agents connected with the funds and venture financing support for innovation. Contribution to the creation of innovative products and services focused on the SMEs through the creation of financing instruments/advice for their ones. Exploration and exploitation of university R&D in all their potential, improving the access to leading technology.
- Increasing the offer of funds and financial instruments available for blue economy companies.
In delivering its overall objectives, the BIOSWITCH project aims to encourage brand owners to embrace bio-based as a product benefit. Within this, it seeks to:
- Make the EU a leader in the bio-based economy, strengthening its economic growth and industrial competitiveness.
- Unlock untapped biomass resource by raising awareness of its potential profitability with owners.
- Create four new value chains for the four case studies.
- Gather information and insights that will be relevant to bio-based packaging needs and requirements.
Start date: 1 January 2019
End date: 31 December 2021
Funding: €2,593,636.36 Funded by the Interreg Atlantic Area Programme through the European Regional Development Fund
- Universidade de Santiago de Compostela. Research Group of Applied Financial Valuation (ES)
- Greater Manchester Chamber of Commerce (UK)
- University of Exeter- Business School (UK)
- Centre for Entrepreneurship and Enterprise Design. Institute of Technology Tralee (IE)
- Ryan Academy (IE)
- Fundo Regional para a Ciência e Tecnologia. Azores Government (PT)
- Orange Bird (PT)
- Oceáno Azul (ES)
- Atlantpole (FR)
- Vertigo Lab (FR)