FAQ's

ACCELERATION

What is the BLUE BIO VALUE?

Blue Bio Value is an acceleration program promoted by the Oceano Azul Foundation and Calouste Gulbenkian Foundation. Committed to accelerate the transition to a global and sustainable blue bioeconomy, the program will help entrepreneurs creating commercially viable and sustainable businesses. Most specifically, the Blue Bio Value seeks solutions in the marine bioresources value chain that can scale-up to market applications in different industries and help tackle global societal challenges.

 


Does my startup/project need to be fit in a specific industry?

No. Your startup/project may have any viable market application; however, we only accept marine bioresources’ based solutions which ensure and/or promote a sustainable use of the ocean.

 


Does my startup/project need to tackle important societal challenges? 

Yes. The Blue Bio Value believes that the blue bioeconomy can help tackle different global societal challenges by promoting sustainable food systems; contribute to mitigate and adapt to climate change; preserve natural ecosystems; improve health and human well-being; reduce plastic pollution; create sustainable and inclusive jobs and enhance a circular bioeconomy growth model, among others that you are welcome to show us. 


What type of startups/projects is BLUE BIO VALUE looking for?

We aim to attract innovative projects that represent a business opportunity along the value chain of marine bioresources, including biotechnology, but not limited to biotechnology based projects.​

 

I have a great idea that might change the world. Can I apply?

Blue Bio Value is looking for projects beyond the idea stage. We are targeting startups at prototype or launch stages or above; SME's aiming to develop a new product line, and/or teams with projects TRL 5-7 that can demonstrate high potential to rapidly scale up to viable market applications. You need to show us some traction and validation in order to increase your chances of being accepted.

 

I am not a Portuguese citizen. Can I apply?

Yes. Blue Bio Value is a global-oriented program and we accept citizens from all nationalities.

 

Do I have to come to Portugal?

No. Due to the constraints caused by COVID-19 pandemic, the 3rd edition of the Blue Bio Value will be held online between 29th September 2020 and 29th October 2020. 

 

Do I have to be at BLUE BIO VALUE for the entire period?

Yes. You need to attend every bootcamp, mentorship sessions, talks with invited guests, mid-term evaluation and the Final Pitch Day. 

What material and equipment do I need to participate in the Program?

  • Access to the internet;

  • 1 computer with camera and audio; 

  • Fábrica de Startups FastStart Digital Package, which will we provided to all participants prior to the beginning of the Program.

 

What does BLUE BIO VALUE have to offer?

  • ​6-week online acceleration program, which includes 8 bootcamps, access to key contacts, one-to-one mentorship and lectures with high-level stakeholders.

  • Access to Fábrica de Startups FastStart business methodologies package for life.

  • Access to a high-level network, including mentors, investors, key specialists, other entrepreneurs and some of the best research and technological centers in Europe.

  • Final Pitch Day exposure and other investor connections.

  • 1-year membership in BlueBio Alliance, the Portuguese Network of marine bioresources and blue biotechnology, which gives you access to several benefits.

  • A final prize up to 45,000€ in case you’re one of the winners and a Blue Innovation Tour in Portugal in 2021.

  • More Perks to be announced during the applications period.

 

What is the Blue Demo Network? 

The Blue Demo Network brings together, in a single and easy access point, a series of Portuguese infrastructures and services, suitable for blue tech based startups and SMEs. Its main goal is to promote and make accessible to startups all over the world the means to test and demonstrate the functionalities of their solutions and boost Portuguese blue bioeconomy.

 

 

What happens after the program ends? 

Even though the Blue Bio Value is a 6 week program (from 29th September to 29th October), after the end of the program we will still be totally available for all the teams giving you the necessary help in terms of management and support.

Winners

The monetary prize of Blue Bio Value shall be used in services provided under the Blue Demo Network, that can range from access to ponds, labs and office spaces, to technical and scientific studies or even support services such as IP, legal and business advice. The winners just need to contact BBA with their planned needs and BBA will analyse the request and mediate contact with the appropriate infrastructures/service providers. BBA will be responsible for negotiating the terms and for all administrative related work, the winners just need to focus on growing their startup! BBA can also provide extra support in matching Blue Bio Value companies with local partners in order to boost their market reach through its extensive national and international networks. Winners will also have the opportunity to come to Portugal in 2021 and make a Blue Innovation Tour through some of the best research and technological centers in Europe.   

Blue Bio Alliance Membership (all teams)

Access to the Blue Bio Alliance benefits for 1 year (check here)

Mentorship Sessions (all teams)

We believe that 6 weeks (program duration) can be not enough for all the mentorship sessions you would like to have, so we will postponed the mentorship sessions and we will help you to connect with the mentors until 1st December , so you'll benefit from 9 weeks of mentorship.

 

How many members of the team can participate? Can I apply by myself?

We encourage that a team participates with a minimum of 2 (two) and a maximum of 4 (four) elements, however, we are open to accepting exceptions if needed. One of the team members needs to be the founder of the project. 

 

Can I participate part-time?

No. To the sake of your startup, Blue Bio Value requires full-time commitment and you will need to attend all online bootcamp sessions, and get ready to tackle a lot of homework. You will also benefit from several side events, such as a keynote lectures and mentoring sessions that will require your presence.

 

What are my obligations to BLUE BIO VALUE ongoing?

We will help you with everything you need, but in return we ask for total dedication to the program. That means you will need to attend all the bootcamps, events, midterm evaluation and pitch day. And be ready for homework.

 

Where can I apply?

You can apply through our website, where you can also find further information about the program and access the direct link.

 

When will I hear back about my application?

We communicate the results to all candidates until 31st July 2020.

Does BLUE BIO VALUE provide startups/teams with funding?

Not directly. But if you have a good performance throughout the program, the Program will introduce you to a large network of potential investors, and if you are one the winners you will earn a prize that can go up to 45,000€ to be used in the Blue Demo Network.

 

Is there a fee to join the BLUE BIO VALUE program?

No. You just need to bring your team, ideas, and energy to work. Let us worry about the rest.

 

Does the accelerator take any equity?

Enjoy, this is probably the first and unique funding you will benefit from for free. We are an equity-free program.

Our team has already been through an accelerator program. Are we still eligible to participate?

Of course. By joining our program with some previous experience, you will understand our value and will help us to tailor-made our offer according to your needs.