Targeted actions boost biotech/biomanufacturing

March 21, 2024

Biotech largely supports Europe’s economy and contributes to its competitiveness, with high growth potential and labor productivity. By reducing Europe’s dependency on fossil-based input and other sources of raw materials, biotech also increases circularity and strengthens pathways towards independence of fossil fuels. The EU biotechnology and biomanufacturing sectors, however, are facing several challenges: research and technology transfer to the market, regulatory complexity, access to finance, skills, value chain obstacles, intellectual property, public acceptance and economic security. With targeted actions, the European Commission aims to create the right environment for this sector to grow and deliver global solutions to societal and environmental problems.  The Communication on Building the future with nature identifies the challenges and barriers and proposes to tackle them, in line with the Communication on the long-term competitiveness of the EU.

The Blue Biotechnology and non-traditional living resources is a sector  that continues to grow within Europe's Blue Economy sector. They include the non-traditionally commercially-exploited groups of marine organisms  and their biomass application. Macro and micro-algae, bacteria, fungi  and invertebrates are among the main marine resources used as raw  materials/feedstock in the Blue Bioeconomy that is associated with the use of renewable aquatic biological biomass, e.g. food additives, animal feedstuffs, pharma/nutriceuticals, cosmetics and energy.  

https://ec.europa.eu/commission/presscorner/detail/en/ip_24_1570