The new project, called Circular Ocean, will see ideas shared online on what to do with millions of tonnes of plastic.
Marine litter is already used in the making of socks, rucksacks, skateboards and sunglasses.
The Environmental Research Institute (ERI) of the North Highland College UHI is heading up Circular Ocean.
It is working with organisations in Ireland and England, as well as the Arctic Technology Centre in Greenland and the Norwegian University of Science and Technology.
The project will focus on the recycling of waste from some of Europe's remotest coastlines.
Dr Neil James, of ERI, said "Virtually all plastic ever produced is still with us today, with more entering the seas each year to the detriment of fish, birds, turtles and marine mammals.
"If we utilise this so-called waste material for a new purpose we reduce the amount of new plastic created, reduce marine pollution, and encourage new green enterprises.
"Our aim in Circular Ocean is to facilitate this in the northern Europe and Arctic region."
A Thurso-based institute is leading an effort to encourage greater reuse of plastic waste found washed up on hard-to-reach European beaches.