The bioeconomy is where ecology meets economy. It encompasses biotechnology, harnessing knowledge of biological relationships to create products and services, and substituting fossil fuel-based resources with renewable raw materials in the value chain. According to the National Bioeconomy Strategy1, the bioeconomy is intended to stimulate economic development in a sustainable, climate-neutral and cycle-orientated way, by supplying biological knowledge and delivering responsible innovations.
The bioeconomy comes into play at all stages of the value chain, from raw material production and the use of biological resources and processes in industry, to recycling in all sectors of the economy. It makes a huge contribution to climate protection and achieving the United Nations‘ Sustainable Development Goals2. The bioeconomy offers solutions for companies to meet the new challenges they face in protecting the climate and reducing CO2 emissions. As a result, this economic trend is also causing existing production structures to be realigned and creating new technologies and jobs, which significantly strengthens regional value creation and reduces dependencies on global delivery services.
With NEO2020, we want to exhibit concrete examples from the bioeconomy and reward the most promising concept with 20.000 €. In particular, we are looking for ideas that can work as a global solution, but have been applied regionally in practice. Examples of innovations that could win the prize include: bio-based processes, renewable fuels, biodegradable packaging, materials and additives for the textile industry, new sustainable construction or other materials and natural food additives. Do you have a specific example? Inspire us with your idea – and make it clear why your product, process, service or business model offers such added value and how your innovation helps to solve problems we face in the world today. We look forward to receiving your entry!