The ERA-NET Cofund BlueBio will act to unlock the potential of aquatic bio-resources to create jobs, economic growth and provide food, nutrition and bio-based products and services. Thus, paving the way for a sustainable and competitive Blue Bioeconomy in Europe. The goal is to identify new and improve existing ways of bringing bio-based products and services to the market and find new ways of creating value in the Blue bioeconomy. The objectives of BlueBio are to establish a coordinated R&D funding scheme that will strengthen Europe’s position in this complex economic field in a global market. This will primarily be achieved by engaging funding agencies to implement a co-funded call focusing on Blue Knowledge and technological developments to respond to needs and gaps for R&I. The consortium has committed budgets making a strong co-funded call leveraging well the Commission's requests. BlueBio builds upon the networks, achievements and strategies obtained in the COFASP and ERA-MBT ERA-NETs and JPI Oceans, and will leverage the JPI Oceans role as a coordination platform. The consortium aims to implement 2-4 additional calls, developed through stakeholder engagement, and identifying new funding initiatives. BlueBio will implement a range of related activities which can add value to the cofounded projects and better address the impact of R&I projects. BlueBio will enhance valorisation from the actors in the Blue Bioeconomy sector, identify and address R&I needs of industry and society. Communications activities will support BlueBio and the funded projects to realise tangible impacts. Emphasis will be placed on the creation of pre-commercial outputs aimed at accelerating commercialisation and competitive deployment. BlueBio's directions and legacy will be informed by strategic forward-looking processes involving all stakeholders in identifying needs and gaps along the value chains.