4BIZ - Boosting the Blue Economy in the Black Sea Region

The marine resources of the Black Sea are threatened by overfishing, pollution and climate change. Besides, due to the socioeconomic stressors caused by the war in Ukraine, regional SMEs and start-ups from the Blue Economy sector lack funding and resources for investments. In response to these challenges, the 4BIZ project was established to promote sustainable economic growth in the region.

The objective of 4BIZ was to develop a framework for the business collaboration of EU and eligible non-EU Black Sea countries to stimulate innovation, digitalisation and investment. 4BIZ focuses on the fields of fisheries, aquaculture, coastal and maritime tourism, and maritime transport. The project is funded under the European Maritime, Fisheries and Aquaculture Fund (EMFAF) and is led by the Romanian National Secretariat of the Black Sea Universities Network, with the support of eight partners in Bulgaria, Georgia, Greece, Turkey, and Ukraine.

Based on the principles of the European Green Deal and the New approach for a sustainable blue economy in the EU, 4BIZ project aimed to contribute to boosting blue businesses and to identify and tackle local capacity building needs to promote innovation, digitalisation and investment in the Black Sea blue economy. By enabling business collaboration frameworks and boosting the blue economy, the project helped to identify innovative solutions to the challenges faced by the region's blue economy. The expected long-term results will be job creation, increasing of incomes, and the improvement of the quality of life for local communities, while preserving the unique natural and cultural heritage of the Black Sea Basin.