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BIC links up with CoR to launch new bio-based investment platform

The Bio-based Industries Consortium (BIC), an industry association focusing on the European bioeconomy, has partnered with the European Committee of Regions (CoR) to develop a new partnering platform to connect the bio-based industries and European regions.

“The BIC platform can accelerate the green recovery in Europe’s rural and regional areas by supporting regions in realising their Smart Specialisation Strategies,” said Dirk Carrez, BIC Executive Director, announcing the platform’s launch.

Carrez added: “The platform enables the bio-based industry and regions to make contact based on common needs, such as an industry’s objective to valorise a bio-based feedstock and its availability in a specific region. By better aligning industrial and regional bio-based investment priorities, the platform seeks to stimulate new bio-based investments and create new, local value chains.”

Through its partnership with the CoR and other regional organisations, around fifty European regions currently participate in the platform, representing a broad geographical diversity of regions from the north, south, west and the east of Europe. The platform remains open to additional regions to join in the future.

Applauding the initiative, Apostolos Tzitzikostas, President of the CoR, emphasised the following: “BIC’s new platform is an essential tool in connecting regions with new industrial partners: a sustainable bioeconomy is the green beating heart of the circular economy, a key building block of the European Green Deal, and the activities have to be anchored firmly at regional and local level to foster innovation and optimise the use of biomass.

“A sustainable and circular bioeconomy contributes to addressing global challenges like climate change, and land and ecosystem degradation. We remain committed to supporting its successful implementation, also for the health of our communities.”

According to BIC, the interactive platform enables the bio-based industry and regions to identify and contact their ideal partner for bio-based projects and investments, based on their mutual needs and priorities.

For example, regions can highlight their bio-based investment priorities, including Smart Specialisation Strategies, financial incentives available for bio-based investment, the bio-based feedstocks present in their regions, etc. At the same time, the bio-based industries can specify their investment objectives, target market sectors, bio-based feedstocks to valorise, etc.

The new platform also makes strides in advancing the EU’s ambitions on regional and rural development. Its realisation is also just a first step in BIC’s ongoing efforts to increase regions’ bio-based activities and their participation in the European bioeconomy.

If you were interested in this bioeconomy story, you may also be interested in the ones below.

Read: EXCLUSIVE: European bio-based sector sets out 2050 vision for a circular bio-society.

Read: Canada and Italy promote national bioeconomy strategies.

Read: Bio-based industry gives lukewarm response to UK’s first bio-economy strategy.

Read: Bioeconomy will help to bring jobs to EU’s rural areas and keep the bloc ‘politically balanced’, Dutch MEP says.

Read: European Commission launches ‘Circular Plastics Alliance’ to help create ‘well-functioning market’ for recycled plastics.

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