The Regional Secretary for the Sea, Science and Technology stated in Rimouski, Canada, that the Government of the Azores intends to implement a "blue economy" incubator in order to "support the emergence of new initiatives and innovative businesses" in this field.
 
Gui Menezes also stressed that the Government of the Azores will also encourage small and medium-sized companies and research centres to apply to the Blue Fund, an investment fund on research and entrepreneurship linked to the sea that was recently created by the National Government.
 
Speaking at the "Blue Innovation in Azores" panel under the International Biomarine Convention 2017, the Regional Secretary highlighted the potential of the Azores to attract companies from emerging areas of the "blue economy," such as marine biotechnology.
 
Gui Menezes stated that the Azorean Government intends to develop a cluster of the Sea in the archipelago, together with other entities, to strengthen and enhance the "blue economy," in the archipelago. This strategy is line with the framework of the Research and Innovation Strategy for Smart Specialisation of the Azores (RIS3), which has the Sea and Fisheries as one of its main priorities.
 
In his speech, he highlighted several projects that will contribute to the creation of this cluster, namely the Maritime School, which will "train qualified professionals" in areas of the "blue economy," the Atlantic Observatory, which may "work as a collaborative laboratory between companies and research centres " and the International Research Center of the Azores - AIR Center.
 
Gui Menezes pointed out that marine biotechnology and aquaculture are still "at a very early stage" in the Region, but stressed that "there is potential for development."
 
"The creation of an Experimental Centre for Aquaculture in the Region to be used by the scientific community and companies may be provide an important impetus to boost these activities," said the government official.
 
In the case of marine biotechnology, Gui Menezes defended that "the great potential of the Region lies in deep-sea organisms and, although much research is still needed in this area, this is what may differentiate us" in the future.
 
The Regional Secretary highlighted some emerging areas of the "maritime economy' in which the Azores stand out in the world, namely whale watching and diving, also pointing out the "international success" of Flying Sharks; the latter is "a creative company that fits the concept of 'blue bioeconomics'."
 
According to Gui Menezes, this company, "which has a very strict code of ethics," has developed its "own technologies and methodologies" to capture, maintain and export marine organisms to several public aquariums around the world.
 
Biomarine is an international convention that annually brings together researchers, entrepreneurs, investors and representatives from several countries with the goal of promoting contacts to leverage business and industrial initiatives as well as business opportunities in the field of "'blue biotechnology'."