The EU Biotech and Biomanufacturing Initiative was announced by European Commission President Ursula von der Leyen in her Letter of Intent at the State of the Union in September 2023 and is expected to be published on 20 March 2024. 

The initiative is an opportunity for Europe. The bioeconomy is part of the solution, it can power a climate-neutral, sustainable, resilient and competitive Europe.

Efforts to strengthen these industries are important, as Europe is known for being leader in biotechnology research and innovation. However, it is being overtaken by other regions when it comes to applying these innovations to industrial application and manufacturing at scale.

The Joint Statement co-signed by BIC contains five core principles that should be embedded into consideration of the EU  Biotech and Biomanufacturing Initiative. 

The full Joint Statement is available here.

In addition, and particularly important for Europe's bio-based industries, BIC is asking the EU Commission to:

1. Make the bio-based industries a strategic sector in Europe within the green and digital transition.
2. Accelerate Europe's bio-manufacturing capability from lab scale to pilot/demo and from flagships to commercial markets.
3. Increase supply of sustainable biomass for bio-manufacturing in Europe.
4. Set incentives and targets for the manufacturing and use of bio-based products and materials.
5. Properly acknowledge, account for and incentivize the benefits of biogenic carbon, including the adjustment of the Product Environmental Footprint (PEF)   methodology.

These asks are in line with BIC's other recommendations and findings available in the BIC Trend Report and BIC Manifesto.