The scheme is open to those operating within 10 kilometres of the coastline and involved in the blue economy.
The blue economy covers a wide range of economic activities within coastal communities such as seafood, coastal tourism, boat building and maintenance, marine recreation, and renewable energy initiatives.
The Scheme, the largest of its kind ever, is open to three streams of projects: Capital Investment, Business Mentoring & Capacity Development, and Upskilling & Training.
A €25 million budget is available in 2022 and 2023, funded under the EU Brexit Adjustment Reserve. The Scheme is an initiative of the Government of Ireland and is being administered by Bord Iascaigh Mhara.