This bilateral project between Portugal and Serbia was funded by the FCT (Fundação Ciência e Tecnologia). The aim is to promote research, development, and innovation in the area of microalgae through research of novel strains with potential high-value bioactive compounds, which represent an important resource and raw material to be used in the production of food, feed, pharmaceutical, and cosmetic products. By determining the potential of microalgae and the most adequate processes for obtaining final products, microalgae become an economically attractive resource for the economy. Luísa Gouveia from LNEG/GreenCoLab is the Portuguese coordinator.