The Bio-based Industries Consortium (BIC) is a non-profit organisation set up in Brussels in 2012. BIC represents the private sector in a public-private partnership (PPP) with the EU, represented by the European Commission, known as the Bio-based Industries Joint Undertaking (BBI JU), established in June 2014 as one of the pillars of the European Commission Bioeconomy Strategy.
The BBI JU is an instrument to support industrial research and innovation, to overcome the innovation ‘valley of death’, by bridging the gap from research to the marketplace. It encourages partnership with the private sector to fund and bring together the resources needed to address the challenges involved in commercialising major society-changing new technologies.
BIC members cover the entire bio-based value chain and consist of large industries, small and medium-sized enterprises (SMEs), regional clusters, European trade associations, and European Technology Platforms. Any interested stakeholders along the bio-based value chain may apply for membership.
The Bio-based Industries Joint Undertaking is dedicated to transforming renewable, natural resources into innovative bio-based products.
Of the total €3.7 billion BBI JU budget, almost 75% is being invested by BIC members, in total €2.7 billion from 2014-2020. Their financial contribution will support the large-scale commercialisation of high-quality bio-based products, through investment in innovative manufacturing facilities and processes, as well as in biorefining research and demonstration projects.