The Blue bioeconomy in the Mediterranean needs better governance of innovation policies, with a transnational approach, focusing on fulfilling the Agenda 2030 Sustainable Development Goals (SDGs) through innovation. BLUE BIO MED aims at bridging the transnational governance frameworks active in the Mediterranean area (i.e. UfM, UNEP-MAP, EUSAIR, WestMed, Bluemed Initiative, etc.) with the territorial - regional/national – policy making. R&I strategies for smart specialisation (RIS3) are the key entry point to understand and orient the innovation trends and priorities across MED regions and connect transnational cooperation with investments for growth and jobs of the Cohesion Policy. The project BLUEBIOMED will be an open platform for an inclusive co-design process with the wider innovation community promoting a bottom-up MED Innovation Alliance for the blue bioeconomy to streamline multiple efforts and initiatives around the Mediterranean. BLUE BIO MED will support the start-up of the Alliance to boost the Mediterranean leadership in transformative innovation of the blue economy.