Biobased economy in Europe on the right track!

There is a growing mobilisation of private investment in Europe, and the industry participates massively in research and innovation. Via the Biobased Industries Initiative (BBI), a public-private partnership between the industry organised within the Biobased Industries Consortium (BIC) and the European Commission, we not only support deployment but also keep investments in innovative production processes within Europe.
Due to BBI-projects, we are now working with partners from sectors that have never collaborated before to set up new and innovative value chains. Examples include the food industry collaborating with the chemical industry, the forestry and pulp & paper sector collaborating with chemical industry etc. New industrial sectors are joining and more and more sectors discover opportunities to create value from waste and side streams, originating from the food processing sector, the aquatic-based sector, and even bio-waste and CO2.
BIC already has a more diverse, growing membership. Not only are new sectors joining, like the food industry and aquatic/marine sectors, but we also observe a growing interest from brand owners. Collaboration with brand owners is essential as they develop the vision for the future, help to increase acceptance of biobased products in market applications, develop new applications for biobased products, or even create new markets.
BIC has also strengthened its collaboration with the European regions. Regions are playing an important role in the further development of the biobased economy in Europe as they can support the establishment of (regional) innovative value chains. They are also best situated to identify the available feedstocks in their regions which can trigger the biobased economy. And finally, regions can play a crucial role in attracting investments by using the European Structural and Investment Funds (ESIF) or the European Agricultural Fund for Rural Development (EAFRD), creating jobs and growth, and additional opportunities for the primary sector. All of this makes us hopeful for the future!