Biotech Act II: what bio-based Industries need to scale
BIC welcomes the European Commission's Biotech Act II as a key measure to scale up industrial biotechnology and biomanufacturing across different sectors and has identified three priority areas for impact: overcoming regulatory bottlenecks, creating market demand for bio-based products, and securing financial/offtake support.
BIC welcomes the European Commission's initiative to put forward Biotech Act II as a flagship industrial competitiveness measure, building on and complementing Biotech Act I, with a focus on scaling up industrial biotechnology and biomanufacturing. Europe currently has a narrow window of opportunity to accelerate this scale-up and secure strategic leadership in biomanufacturing.
Regulations are key drivers for driving market demand, thereby ensuring that the biomanufacturing industries contribute to EU’s competitiveness, strategic autonomy, resilience, and the flourishing of a well-functioning circular economy. Biotech Act II has the potential to accelerate the path from lab to factory by empowering biomanufacturing, including a broader range of bio-based solutions, such as food and feed production technologies, bio-based chemicals, bio-based materials and consumer products, and not just healthcare and pharma.
To reach this potential, BIC has identified three dimensions where Biotech Act II can and should make a tangible impact:
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1. Overcoming regulatory bottlenecks;
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2. Creating lead markets and market demand for bio-based products;
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3. Financial and offtake support.
Biotech Act II