Funding tool for Bio-Based Industries Consortium
Companies and start-ups looking for financial support for scaling up bio-based innovation can find it difficult to find information on regional funding. The regions are important players when it comes to fostering the bioeconomy.
Since its foundation, the Bio-based Industrie Consortium (BIC) has been working together with regions in various ways. A main objective of BIC is to bridge the gap between bio-based investment opportunities and financial incentives at regional level. A major milestone in reaching that objective was the creation of BIC’s regional platform in 2020, to better connect industry members with European regions.
Complementary to the regional platform, BIC has launched a database, that includes a search tool, for regional funding information and opportunities for bio-based projects.
IDEA Consult developed this database that contains regional, national and European funding of more than 30 regions in Europe. It can be easily extended to other regions, too.
There are two main benefits of the new BIC database. The search function will make it easier for companies to find regional funding opportunities. For regions, the database can facilitate peer learning and policy exchange on funding programmes between the regional members.
“This database is the next step in the new pillar of activities that BIC is developing for its members: improve access to finance and facilitate investments. A good collaboration with regions is crucial to stimulate investments in local innovative value chains in Europe,” explains BIC CEO, Dirk Carrez.
Funding information for the database was collected from the regions via direct contact, interviews and desk research. The focus of the database is on funding for advanced projects in the bioeconomy (at least technology readiness level 7 i.e. demonstration in operational environment or higher). The database will be updated by IDEA twice a year. The next update is in September 2022.
- Intermediate and private organisations