Bioeconomy: Plenty of oppportunities abound – preparation is king

The production, utilization, and conservation of biological resources, including related knowledge, science, technology, and innovation to provide information, products, processes, and services in all economic sectors aiming towards a sustainable economy is one way one can define what bioeconomy denotes.

A key feature of the bioeconomy is extending biomass production and processing beyond food, feed, and fiber to include a range of value-added products with potential applications in many sectors, such as the food, health, and energy sectors. Bioeconomy driven innovation, is an important driver for a future green and circular economic growth within the European region, and can for instance be used to:

  • Create new jobs and livelihood opportunities and enhance public health and food security,
  • Produce green chemicals and new biobased materials for industrial use and local bio refineries including different forms of bioenergy through various biomass productions systems (crops, aquaculture, forests, microbial fermentations),
  • Improve value addition using modern agro-processing systems in for high-quality food, feed and agro-industrial,
  • Convert bio-waste to useful products, making more efficient use of resources and increasing value addition at agro-processing plants, bio-refineries,
  • Make countries in Europe more competitive internationally, not least in the industrial and agricultural sector, and more successful in integrating in the global economy,
  • Create a greener economy as countries in the region shift towards a low-carbon future.

Herein lies a huge opportunity which when well prepared, one can be able to harness and harvest a multitude of either funding opportunities or tenders therefrom. For this to happen you ought to develop a robust business development regimen to support your agronomic focused practices and strategy with bio-based technologies where applicable.

Further, you should be clear about the expected impact of your activities for example how the level of food production will be protected. You should adequately research and prepare how far your impact will reach and how the results from the project will be exploited even after the end of your contract because evaluators are always interested in the afterlife of the project. From our experience, we were dealing with a multi-cropping system developed and adopted by local farmers, which would then be tested and applied in business models.  We realized that the impact exploitation criteria always turns out to be complex and may vary between locations of your project activities. So, to avoid any unforeseen bottlenecks – adequate preparation is paramount.

We hope that this information will come in handy as you prepare for your next proposal or tender.

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