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D. Provide extensive guidance to stakeholders on how existing provisions related to biotechnology108 can be implemented and utilised within the context of Blue Biotechnology (SO2); E. Promote the use of support mechanisms for start-ups and SMEs that collaborate with research centres and private investors at an early stage of the product development process (SO2); F. Foster the development of a live database of biotechnology SMEs and products, and include Blue Biotechnology as a category (SO2); G. Assess the possibilities for more focused financing of the Blue Biotechnology industry through existing financing instruments e.g. JEREMIE109, the European Investment Bank110 and the European Investment Fund`s Progress microfinance facility111 that could support the sector using streamlined mechanisms such as bridging loans (SO3); H. Assess and expand the blue component of financial mechanisms such as the EU Structural Funds or Horizon 2020 and set targets for several sectors (earmarking) (SO3); 4.7.4 Policy option 4: Formal policy measures Option 4 involves more stringent policy measures aimed at developing specific Blue Biotechnology targets and initiatives. It can include: A. Increase the visibility of the Blue Biotechnology sector by proposing a specific NACE code for (Blue) Biotechnology (allowing for increased visibility by defining the sector) (SO1); B. Create a register for Blue Biotechnology firms (SO1); C. Establish a (stand-alone) Blue Biotechnology fund through a joint initiative of EC DG MARE and the EIB (similar to JESSICA, JEREMIE, JASPERS) (SO3); D. Promote legal measures to establish a licensing and environmental impact assessment framework within UNCLOS as well as a common benefit mechanism and sharing fund (SO4); 108 Including but not limited to the European Parliament and Council Directive 98/44/EC of 6 July 1998 on the legal protection of biotechnological inventions and the 2002 EC Communication on Life sciences and biotechnology – A Strategy for Europe 109 European Commission (2013): Special support instruments, http://ec.europa.eu/regional_policy/thefunds/instruments/jeremie_en.cfm#2 110 European Investment Bank (nd): Sharing risk in research, development & innovation (RSFF), http://www.eib.europa.eu/products/rsff/index.htm 111 European Investment Fund (2013): Progress Microfinance Funded Instruments, http://www.eif.europa.eu/what_we_do/microfinance/progress/funded_instruments/index.htm 70 Study in support of Impact Assessment work on Blue Biotechnology

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