Two leading European bioeconomy players, the Bio-based Industries Consortium (BIC) and the Vanguard Initiative have signed a Memorandum of Understanding (MoU) for better interregional cooperation on the bioeconomy. The collaboration will support improved access to funding and awareness-raising activities,marrying BIC’s bioeconomy expertise with the Vanguard Initiative’s regional network to help steer Europe away from its fossil-based past and develop novel products for new markets, creating more jobs.
Europe needs integrated bio-based value chains if it is to become the world’s leading bio economy. Achieving this goal depends on bringing regional stakeholders together to pool resources, combine complementary assets and share best practice. Established in 2014, the Vanguard Initiative facilitates the creation of cross-regional demonstration projects, making it an ideal catalyst for the EU’s bioeconomy ambitions boosting new growth through entrepreneurial innovation and industrial renewal.
BIC already has a number of partnerships to harness the power of interregional cooperation. ERRIN, the European Regions Research and Innovation Network, contributed to BIC’s study ‘Combining BBI (H2020) and European Structural and Investment Funds (ESIF) to deploy the European bioeconomy.’
At the MoU signing on 21 June, Dirk Carrez, Executive Director of BIC said, “BIC will work together with the regions in the Vanguard Initiative to exchange information and explore synergies between BBI work programs and Vanguard pilot projects on the bioeconomy. Our collaboration will identify opportunities for joint demonstration, accelerating the development and uptake of bio-based products, strengthening regional development and creating jobs. At the same time, I encourage European regions to explore different financing options, such as regional development funds, to help them bring to market innovative renewable products.”
Read the agreed Memorandum of Understanding (MoU)
Based on the press release by Bio based Industries Consortium
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