The PROSECCO project brings direct advancements to the maturity level of HVDC grids. Doing so, it aids in realizing Europe's climate goals for 2050. Meshed HVDC grids is a key technology to integrate offshore wind and to upgrade the European power system. As such, the future power system will be a hybrid AC/DC grid where the HVDC grid seamlessly integrates with AC systems. PROSECCO addresses innovation needs in grid protection near HVDC converters and congestion management for hybrid AC/DC grids. PROSECCO utilises Model Based System engineering to have a consistent approach that is vendor neutral from design. It will advance research on (HVDC) grid protection, focusing on harmonized specifications, improved testing, multi-vendor integration, enhancing grid stability and selective protection. In congestion management, the project develops power flow schedulers, power flow control hardware, and holistic cost-benefit analysis tools. PROSECCO will mature hybrid AC/DC grids through 4 different demonstrators across three EU member states, namely (1) unique test equipment for DC relays (2) DC protection relays being installed in actual DC grids (3) a full scale DC power flow controller and (4) software to evaluate the cost-effectiveness of protection and congestion management solutions. The project also contributes to international standardization and builds confidence in TSOs, educates power system engineers, and provides recommendations to ENTSO-E.