MedBAN: Eurocluster for the Blue Economy

What is MedBAN?

On March 18th, 2025, stakeholders from across the Mediterranean gathered for the final MedBAN: Eurocluster for the Blue Economy conference. This event marked the culmination of a project that has driven innovation, collaboration, and sustainable economic growth in the region, initiated by Fórum Oceano. MedBAN - Mediterranean Blue Acceleration Network - has served as a bridge, connecting small and medium-sized enterprises (SMEs) with partners, funding, and strategic guidance to overcome industry challenges.

A Platform for Growth and Innovation

MedBAN’s mission has been to foster resilience and transformation in the blue economy by supporting SMEs in key areas such as market access, sustainability, digitalization and internationalization. The programme had a budget of around €1.4 million Over the course of the project, MedBAN has helped businesses navigate regulatory challenges, secure financing, and build strong international networks. The final conference highlighted these successes while also looking ahead to future actions and opportunities.

Insights from the Roundtable Discussion with Small and Medium Enterprises (StartUps and ScaleUps)

One of the most impactful moments of the event was the roundtable discussion, where selected SMEs shared firsthand insights into how MedBAN supported their business:

• Hydrotwin: This engineering-driven company focuses on collecting and processing underwater sonic data with the help of AI. MedBAN provided crucial assistance with market analysis, helping them bridge the gap between technology and business viability.

• Pes-co: A platform that connects tourists with local fishing guides, Pes-co leveraged MedBAN’s network to expand its reach and develop a comprehensive toolkit for both guides and clients, ensuring sustainable and authentic fishing experiences.

• Maritime World: As a networking platform for ocean-related businesses, MedBAN played a key role in the expansion of Maritime World. Thanks to the support, it now hosts the largest maritime conference in Malta and other significant events in all of Europe, strengthening international connections, particularly within the Mediterranean.

• SEAentia: This company specializing in land-based aquaculture, received guidance on developing an export strategy and internationalization plan. This saved the company valuable time and resources while enhancing its global market position.

• Cyclefi: An innovation hub for environmental challenges. Focused on waste innovation, Cyclefi collaborated with municipalities to achieve near-zero waste solutions. MedBAN’s involvement helped Cyclefi form new partnerships, resulting in Greece’s first zero-waste community and opening new market opportunities in harbours.

  
  

Beyond individual business support, the MedBAN cluster itself has fostered mentorship, supplier and customer networks, and access to funding opportunities, demonstrating the power of collective action.

Addressing SME Challenges

SMEs form the backbone of the EU’s Blue Economy, making up over 99% of enterprises and employing more than half of the workforce. Small enterprises face significant challenges in adopting the twin transition - digital and green transformation - due to financial pressures, regulatory hurdles, and market access barriers. The financing gap remains a major obstacle, with SMEs in the EU needing between €60-70 billion annually, contributing to the €147 billion required globally to meet SDG 14 (“life below water”). To ensure a sustainable blue economy, EU policy must focus on SMEs, providing both financial support and a framework that facilitates innovation and growth.

Future Directions

The conference concluded with a look toward future actions. A key takeaway was the necessity of direct private investment in SMEs to ensure sustainable and scalable growth. As MedBAN comes to an end, its impact will continue to be felt through the strong networks it has built and the lasting initiatives it has set in motion.

MedBAN has proven that collaboration, innovation, and strategic support can drive significant progress in the blue economy. Even though the Secretary General of Fórum Oceano, Rúben Eiras, pointed out that this project is only a small drop in the vast ocean of blue SMEs, it surely is a very important one. As the Mediterranean continues to evolve as a hub for sustainable maritime industries, the lessons and successes of MedBAN will serve as a foundation for future endeavours.