One of the main areas of work of the WestMED Assistance Mechanism (WMAM) is the identification and dissemination of information, as well as the provision of guidance, on funding opportunities for stakeholders willing to set up projects, create networks or exchange good practices relevant for the WestMED Framework for Action priorities.
The WMAM Team continuously screens major bilateral and multilateral donor organisations’ programs, facilities and funds potentially available to the western Mediterranean countries and stakeholders, both European and non-European.
Based on this comprehensive overview of funding sources available to Blue Economy projects in the region, the WMAM is well positioned to provide informed and tailored advice, which fully acknowledges subregional specificities and challenges.
Key beneficiaries of this practical information sharing and guidance include SMEs, large enterprises, and research bodies in the region, but also relevant governmental departments at operational and policy levels, such as national focal points, maritime units and other stakeholders.
During the first 2 years of implementation of the WestMED Assistance Mechanism, 60+ financial opportunities have been mapped, reviewed and disseminated among stakeholders in different countries. The team has also established direct liaison with a number of public and private donors andprogrammes such as INTERACT, Interreg MED, EIB, CINEA, UNDP, DG NEAR or ENI CBC MED.
Some of the Programmes being reviewed continuously
- CINEA
- DG MARE
- EMFAF
- ENI CBC MED
- ERDF
- Horizon Europe
- Interreg
- COST action
- LIFE Programme
- ERASMUS+
- Sustainable Blue Economy Partnership
The WMAM also seeks for joint funding schemes between the EU and other donors, as well as private sector opportunities at international, national, regional and local level.
Open funding opportunities and related information gathered by the WMAM are available in an online dataset, publicly accessible from the WestMED website – see funding. This functionality is under construction though and will be turned into search and select function based on country and topic.
If you want too know more about funding opportunities just contact your corresponding WestMED National Hub.
A core feature of the WestMED Assistance Mechanism is its ability to engage with a broad range of institutional actors and interested stakeholders across the western Mediterranean sub-sea basin.
Building strong networks and effective matchmaking is essential to fulfil innovation potentials in the Blue Economy and to foster greater economic growth and job creation in the region.
In this sense, the WMAM acts at the national and local levels across coastal regions on both shores of the Mediterranean to ensure that collective efforts and strategic partnerships are developed throughout the region.
The WestMED National Hubs are key actors to foster effective networking and matchmaking at national and local levels, as well as to promote the development of innovative project ideas in line with the WestMED Framework for Action priorities.
National Hubs matchmaking tasks include:
- Establishing collaboration streams and synergies with maritime stakeholder communities, including existing networks, organisations, financing institutions and clusters active in the western Mediterranean.
- Organising national and regional hackatons, networking, and B2B events, while attending and actively supporting other strategic events organised by relevant stakeholders in the region.
- Providing stakeholders with practical information and advice required to assess, scrutinise and fully understand the financing criteria to be addressed when preparing successful project applications.
- Support to stakeholders in building consortia and putting stakeholders in touch with possible project partners.
If you have a Blue Economy project in mind that would contribute to the goals and priorities of this Initiative and are looking for possible partners to join forces, please contact your corresponding WestMED National Hub to discuss possibilities. We have a vast network of contacts across the region.
One of the WestMED Assistance Mechanism goals is to foster innovative project pipelines in strategic areas of development for the Blue Economy.
To achieve this objective, the WMAM actively supports the creation of stakeholder networks and working groups, such as the Technical Groups on Green Shipping and Aquaculture, or the Clusters Collaboration network. In doing so, the Assistance Mechanism establishes robust links with national and regional institutions, while supporting cooperation amongst stakeholders in the Blue Economy.
Through a balanced top-down and bottom-up approach to project development, the WestMED provides consistent technical support to numerous organisations, by tackling common challenges which often prevent project holders from obtaining financing.
Some ways in which the WestMED Assistance Mechanism can support stakeholders in developing successful project ideas include:
- Identifying fields and areas with high cooperation potentials in the Blue Economy
- Effectively connecting local ideas with regional financing mechanisms
- Matchmaking between local stakeholders across their needs and project ideas, via B2B meetings and dedicated matchmaking events.
So far, more than 100 project ideas have been more actively supported and submitted to different Calls for Proposals. Some examples of awarded projects are Blue Roses, FIUUFRA and NewTechAqua.
If you are currently developing a project idea related to the Blue Economy, and you are seeking technical support, relevant funding mechanisms or partners, do not hesitate to get in touch with your local WestMED National Hub.