Blue Bio Value explained: scaling blue biotech solutions
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Humanity is fighting an emergent environmental and social crisis, and our oceans should be part of the solution. The 2030 Agenda established by the United Nations outlines seventeen interconnected objectives to guide nations and societies towards sustainable development that span various domains and address critical issues such as zero hunger, good health and well-being and global climate change. One of these objectives is specifically dedicated to life below water and aims at conserving and sustainably using the oceans, seas, and marine resources.
The ocean has an immense potential to address and help fight the global crisis on many fronts, not only due to its role as the world’s “lungs” and carbon sink by producing around 50% of the oxygen needed, assimilating 25% of carbon dioxide emissions and consequently in limiting temperature rise arising from these emissions. Additionally, to face the growing scarcity of global land resources, the bioresources present in the ocean hold unlimited potential to be used in different solutions and applications across many sectors.
Blue Bio Value and maze
Portugal has a vast coastal area with 77,000 km2 of marine protected area and the fifth largest exclusive economic zone in Europe and has been committed to the blue economy since early. The National Ocean Strategy 2021-2030 (NOS 2021-2030), approved by the Portuguese government in 2021, reinforces this commitment by focusing on the importance of scientific knowledge, the protection of the ocean, the valorisation of marine ecosystem services and the recognition of their role as vectors of sustainable development.
To contribute to these ambitious objectives, the Oceano Azul Foundation and the Calouste Gulbenkian Foundation launched the Blue Bio Value, with the support of BlueBio Aliance a programme focused on supporting blue biotechnology companies and R&D projects to improve their value proposition and scale. Maze joined the foundations in 2021 as Blue Bio Value’s programme manager and has been operating in this field since. The Blue Bio Value programmes focus on blue biotechnology, which refers to using technology to transform marine bioresources into different products and processes, a market valued at $2.3bn in 2023. This sector exhibits a broad spectrum of applications, from fish to algae, from molluscs to microorganisms invisible to the naked eye. Such bioresources are today used in various sectors such as health and cosmetics, food and aquaculture, biomaterials and chemicals, and environmental remediation.
Blue Bio Value Acceleration
Blue Bio Value Acceleration is an equity-free impact growth programme dedicated to scaling up marine bio-based projects that foster biotech innovations for a healthy and productive ocean. In the past three years, from 269 applications that resulted from intensive scouting work, 54 startups from 27 different countries participated in the support programme, organised in 3 cohorts of around 18 startups.
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The programme
During one month and a half, the startups receive individual business and industry support, mainly focused on enlarging the founders’ network of contacts in the ocean economy space. At the end of the programme, for two weeks, all founders travel to Portugal to explore and immerse themselves in the local ecosystem, where they benefit from knowledge and collaboration sessions, networking events, and field trips to relevant scientific institutions and industry players.
Sectors we’ve been working with
Over the past editions, Blue Bio Value has worked with companies in the most relevant sectors of the blue biotechnology industry. The 54 startups are tackling 10 different Sustainable Development Goals: 20 are focused on the food and feed sector, 15 are considered environmental solutions, 13 are developing solutions in the bioindustry and 6 are in the human wellbeing sector.
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- Food & feed
We have worked with startups that are developing algae-based sustainable protein alternatives (Sophie’s BioNutrients), creating sustainable aquaculture systems on land (Blue Planet Ecosystems) and even developing cell-based cultivated fish seafood (Umami Bioworks and Marinas Bio). Focusing on animal feed solutions, we have supported startups in the aquaculture sector such as Ittinsect (aquaculture feed using insects) and Aquanzo (artemia as aquafeed). Bake My Dog Happy has created functional food for pets made with by-products from the sardines canning industry.
- Environmental solutions
Blue Bio Value has had several startups focused on environmental solutions in the past cohorts, mainly focused on water quality monitoring (Eyecon and Aquaai) and antibiotic resistance (Resistomap) through different techniques, on identifying algae blooms and recovering them for different applications (Easy Harvest and Thalasso) and on preventing marine entanglements and limiting ghost fishing (Ashored and Resqunit).
- Bioindustry
Different startups are developing algae-based construction materials (BlueBlocks), bioplastics (FlexSea and Grisea) and bioherbicides (Hemoalgae). Some startups manufacture fish-based leaders (7 Leagues Leather) and produce algae-based dye for the textile industry (Zeefier).
- Human well-being
Lastly, regarding human well-being, Savira has developed marine-based haircare product and Tetis Biotech is extracting collagen and chitosan from seafood side streams for cosmetics and food applications.
See the full startup list here
Blue Bio Value Ideation
In order to contribute to the generation of new blue biotechnology projects in the market, Blue Bio Value launched an ideation programme focused on supporting researchers in taking their scientific innovation to the market.
The programme
Blue Bio Value Ideation consists of 5 remote weeks with a structured curriculum to impart essential business and entrepreneurial concepts to R&D projects in the blue bioeconomy. The ideation programme also entails two in-person moments focused on collaborative sessions held at the beginning and end of the programme, providing an opportunity for intensive work, networking, and mentorship.
The programme's 2023 edition had 29 applications from which 10 R&D projects based in different regions of Portugal were selected to be part of a cohort. 10 business mentors were selected out of 45 applications to be matched with these projects and support them on business-related topics throughout the programme.
Solutions present on the 2023 edition
The selected projects develop and test solutions in several national research centres and universities. Their solutions are diverse - here are a few examples:
- Cosmetic applications based on marine bacteria and biocatalysis processes;
- Feed formulations in vitro to assess disease resistance in the aquaculture setting and nano-sized alternatives for fish vaccination;
- Exopolysaccharides for tooth decay;
- Biosurfactant production based on surplus fish canning industry;
- Functional foods, including a solution for people with diabetes;
- Algae-based film for food conservation.
Blue Bio Value going forward
With a 100% recommendation rate on both programmes, the blue economy focus aligned with the networking opportunities in the sector is usually highlighted as the most valuable component of the programmes. The fact that the programme is based in Portugal and includes in-person moments is considered unique and extremely beneficial for startups interested in the Portuguese and European markets.
As we continue to explore and innovate within the blue biotech sector, it becomes increasingly clear that our ocean holds key solutions for the pressing issues our planet is facing. The success stories from Portugal and beyond, and the growth of the blue biotech market underscore the vast opportunities that lie ahead, waiting to be harnessed for a sustainable, resilient and prosperous future for all.
If you are a startup or project founder working in the blue bioeconomy, 2024 applications will be open soon.
Questions or doubts about the programmes? We're here to help. Contact us at marta@maze-impact.com.
Sources:
https://www.precedenceresearch.com/marine-biotechnology-market
https://www.technavio.com/report/blue-biotechnology-market-industry-analysis
https://bluegeneration.guide/marine-biotechnology/
https://industryarc.com/Report/16110/marine-biotechnology-market.html
https://www.mordorintelligence.com/industry-reports/marine-biotechnology-market
https://www.wri.org/insights/ocean-based-climate-change-solutions
https://biodiversity.europa.eu/countries/portugal
https://www.trade.gov/market-intelligence/portugal-blue-technology