The FAN-BEST project is aimed to foster technology transfer to SMEs in blue biotechnology and exploitation of marine resources by creating a network of public and private entities focused on fundraising that accelerate the start and scale-up phases. Access to funds such as venture capital, business angels, participatory loans or crowdfunding will be promoted, so that the technologies and innovations “made in Atlantic regions” can enter the market and grow into successful business projects.


As part of Work Package 7, up to 3 start-ups/SMEs in the Blue Economy (BE) will benefit from expert private capital fundraising assistance to help them reach a satisfying deal closure. Selected companies will be coached to identify and connect with relevant investors, facilitating the different steps between the first contact until the closing.


Depending on the needs of each beneficiary, the expert service will provide a tailored assistance package that will cover, for example:


  • The delivery of a sound business plan populated with investor-friendly data
  • The development of a fine-tuned financial model including valuation tools
  • The understanding of the investor’s requirements and perspectives
  • The preparation of a convincing pitch
  • The support in the due diligence analysis carried out by the investors
  • The negotiation of the terms of the deal
  • The analysis of the legal framework for the official shareholder agreement

Methdology to select the beneficiaries


The start-ups/SME applying to the FAN-BEST fundraising assistance service must be located in one of the regions of the Atlantic Area Cooperation Programme (in blue on the map).


In addition, the following criteria will be evaluated during the evaluation procedure:


  • Development of an innovative product/service within the sustainable Blue Economy sector (mandatory)
  • Private capital fundraising readiness
  • Quality of the business plan


The proposals are evaluated in two steps:


  • In STEP 1, proposals are received and evaluated based on the online Application Form.
  • In STEP 2, a direct exchange between a FAN-BEST partner and each applicant meeting the eligibility criteria will help consolidate the evaluation. Up to 3 start-ups/SMEs will be selected based on a ranking.

Estimated calendar


2nd November 2022 – Launch of the call

25th November – Deadline date for submitting proposals

2nd December – Communication of selected beneficiaries

December – Selection of experts to assist the beneficiaries

April 2023 – Completion expert fundraising assistance service



Request form:


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