The basic aim of this research is to explore how value proposition development allows Upcyclr AB to gain a competitive advantage in the Nordic seafood industry. In particular, the study focuses on how Upcyclr AB has been applying innovative technologies to upcycle seafood by-products into more value-added products within a circular economic framework. The qualitative research approaches used are based on semi-structured interviews with key internal and external stakeholders to shed light on the role of value proposition and it employed theme uniformity, stakeholder’s triangulation, and pattern analysis to deduce cause-and-effect links between Upcyclr AB's strategic decisions such as investments in innovation and partnerships and its discerned competitive posture within the Nordic fisheries sector. Findings of the research study are consistent with the previous literature and signify the role of technological and sustainability integration, partnerships and collaboration, cooperation with stakeholders in maintaining a strong competitive advantage. Findings also highlighted several challenges, such as ineffective communication strategies to reach a sizable customer base across Nordic states, product development-related challenges, and late deliveries due to heavy reliance on partners. However, the conclusions of this study are not generalizable because this research study is based on a case study of a single company in the seafood industry. Despite the limitations of the study, the perceptions of various stakeholders in the seafood industry such as competitors, researchers, partners, and customers were taken into account in an effort to address these limitations.