The North Sea Region (NSR) is a crucial area for Europe`s Blue Economy, but it is faced with profound challenges. To understand and open up emerging technological and market opportunities, which lead to sustainable innovations, PERISCOPE will establish an entrepreneurial discovery process to reinforce the knowledge base, identify and valorise innovation ideas, and open up a Blue Growth ecosystem to stimulate industry-driven action on the concrete opportunities ahead. PERISCOPE will bring together fragmented and specialised knowledge in a novel entrepreneurial discovery process that will trigger innovations and sustainable business development. Concretely, PERISCOPE will enhance the capacity of 300+ NSR actors within the blue economy, kick start 10+ Blue Growth innovation partnerships within the NSR, accelerate at least two major cross-border innovation projects, and increase understanding of innovation support and conditions for blue business development in the NSR. Linking six NSR countries, PERISCOPE will also improve trans-regional innovation capacity by working with the public sector and enhanced smart specialisation will follow as a consequence of the ecosystems dialogue platform. Closer transnational cooperation within the project will lead to better synergies in reaping emerging Blue Growth opportunities, utilising funds and infrastructures, and creating a platform for sustainable joint innovation actions and investment.