The Physalia Physalis project is promoted by Mesosystem SME in partnership with the UAç, UM and Nofima. It aims to develop and commercialize a new range of innovative products based on collagen and other substances extracted from P. physalis biomass, with application in biomedical, pharmaceutical and cosmetic industries. The implementation of this project is crucial for Mesosystem, because it is an opportunity to introduce an innovative range of products in the cosmetic market and it will increase the company’s competitiveness in the global market. P. physalis will be a new raw material for Mesosystem and, as explained before, it constitutes a lower foot printer, which means a new competitive advantage and a new market positioning for this SME. Physalia Physalis project contributes to the main objective of this call (“Call#2 – Business Development, Innovation and SMEs”), since Mesosystem will develop, apply and commercialize innovative products, resulting from blue biotechnology process and an intensive cooperation between research partners, as well as from the deep scientific and technological knowledge created during the R&D activities. According to this, aligned with the projects eligible for funding under this call, the scope of P. Physalis project is to “Develop innovative processes for the Blue Growth sector” and “Apply innovative blue processes (new-to-the enterprise) including investments to increase production capacity”. The main area of intervention of the Physalia Physalis project is the blue biotechnology, since biological knowledge and techniques, namely cutting-edge molecular and genomic biological applications, will be applied to create innovative products for humans. According to Merquiol et al., since terrestrial habitats are generally overexploited, research in the last two decades has focused on marine organisms as they have been found to process or synthesize bioactive compounds that often have no terrestrial counterparts and which may, therefore, find new biotechnological applications in different fields. This is exactly the main goal of this project to use P. physalis for collagen extraction, making its application in the cosmetic industry more sustainable, and removing the jellyfish blooms that can be detrimental to coastal aquaculture through damage to caged fish, and to tourism by curtailing bathing activities. According to this, it is expected that the project can have a positive effect for the blue economy, facing the risks associated with the increase of P. physalis activity. On the other side, it will provide affordable raw material for Mesosystem company, which would create innovative products and increase their added value.