Creation of the marine cluster, an example of good practices across Europe

The Balearic Marine Cluster development project, financed with ERDF funds and managed by the IDI (Business Innovation Institute), has been recognised by the Directorate General of European Funds of the Ministry of Finance.

The project for the development and implementation of the Balearic marine cluster financed by ERDF Funds has been considered as a Best Practice of the year 2020 by the Ministry of Finance, which marks the recognition of the work carried out by the Directorate General of Industry, through the IDI, responsible for the creation of the Balearic Marine Cluster.

Although the nautical cluster was founded in 2019, the process began a year earlier with an analysis of the nautical sector, considered a priority in the Industrial Plan due to its high specialisation, added value, growth potential and high industrial component. After a process carried out jointly with companies in the nautical sector, the Balearic Marine Cluster was presented with the aim of positioning the Balearic Islands as an industrial and business benchmark at an international level.

The Balearic Marine Clusteris an organisation consisting of thirty industrial companies linked to nautical tourism and entities that participate in the sector’s training and R&D activities. The cluster’s aims include making the Balearic Islands more visible internationally as a nautical industry centre; promoting the growth and strengthening the competitive position of the sector; increasing turnover, profitability and business community quality; and coordinating the sector’s value chain to increase its efficiency and productivity in the Balearic Islands.

The cluster currently has 43 associated companies and among the initiatives in which it has participated is the organisation of the first virtual boat show in the Balearic Islands, the Balearic Yacht Show. They are also working on various projects to boost the Balearic yachting industry: promotion of the destination through Balearic Yacht Destination; R+D+I with initiatives such as industrial waste circularity, carbon footprint reduction and electronic invoicing; training for the sector; and good practice and quality guides for refit companies.

The Balearic Marine Cluster was created as part of the industrial cluster development initiatives of the 2018- 2025 Industrial Plan and is promoted by the General Directorate of Industrial Policy. The objective is to relaunch a cluster strategy as a tool to increase competition, collaboration and informal links between companies and institutions in a given geographical environment, seeking to exploit the territory’s competitive advantages. The action is funded by the European Regional Development Fund as part of the 2014-2020 ERDF Balearic Island Operational Programme.