BIC is a non-profit organisation set up in Brussels in 2013. BIC represents the private sector in a Public-Private Partnership (PPP) with the European Commission, also known as the Bio-based Industries Joint Undertaking (BBI JU). This public-private partnership aims to invest € 3.7 billion in bio-based innovation between 2014 and 2020.
The BBI JU, operating under Horizon 2020, was set up as one of the pillars of the EU Bioeconomy strategy (2012). The BBI JU is dedicated to transforming renewable, natural resources into bio-based products through a programme of research and innovation (R&I) activities.
To contribute to society’s long-term sustainability, BBI JU aims to:
- Demonstrate new technologies to fill the gap in value chains
- Develop business models integrating all economic actors along the value chain
- Set-up flagship biorefinery plants deploying business models & technologies to keep investment in EU
The BBI JU is driven by the Vision and Strategic Innovation and Research Agenda (SIRA) developed by BIC. The SIRA reflects the industries’ vision of a competitive, innovative and sustainable Europe leading the transition towards a bioeconomy, while decoupling economic growth from resource depletion and environmental impact.
The BBI JU is an instrument to support industrial research and innovation (R&I), 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 Full or Associate membership.
BIC is a founding member of the European Bioeconomy Alliance (EUBA), a unique cross sector alliance dedicated to mainstreaming and realising the potential of the bioeconomy in Europe. The European Bioeconomy Alliance focuses on advocating for a favourable and coherent policy and investment framework to build a competitive, dynamic and sustainable bioeconomy in Europe.