The challenge

The present “modern bioeconomy” is still at a rather early stage as described in the EU bioeconomy strategy. Thus there are vast development potentials Europe-wide and likewise in the South Baltic Area.

Bioeconomy is the production and utilisation of biological resources, innovative biological processes and principles to sustainable provide goods and services across all economic sectors.

Thus the bioeconomy can be described as the next economic development wave shaping the low carbon, resource efficient and circular economy, in which new biomass-based materials and products are introduced to substitute fossil-based materials and products.

On this background the bioeconomy represents a development of innovative products and modified production processes aiming at better resource management eventually decreasing the amount of non-recycled waste from production processes and decreasing pollution discharges. All regions have significant amounts of unutilized biological resources in the form of residues from agriculture and by-products from bio-based industries, which provide a not yet exploited innovation potential.

The challenge is to demonstrate attractive business opportunities for SME’s concerning production of innovative food, non-food products and bioenergy based on regionally available resources and at the same time strengthen the innovation capacity of the SMEs and decrease pollution discharged in the South Baltic Area.