The European project P2P finBIO (Peer to peer learning for financing of innovation in the food and bioeconomy) has released a Design Option Paper (DOP) on how to stimulate the financing of innovation in the agri-food and bioeconomy sectors.
The DOP includes the results of five study trips and workshops carried out by the project partners to exchange best practices and clarify opportunities for financing of innovation in Andalusia (Spain), France, Portugal and the Netherlands.
The DOP analyses the strengths and weaknesses of each region and offers recommendations for the main stakeholders identified (Government, private companies, Business Angels, Venture Capital Funds, Accelerators and Cluster organisations). Finally, it identifies funding opportunities and programmes for SMEs to transform an idea into a business.
P2P finBIO followed the Twinning+ methodology, a peer reviewing and discussion process, through field research and workshops. This methodology provided a full and multi-dimensional understanding of both the environment in which other clusters operate as well as the supports links between peers within the organisations.
Unlocking the potential of the circular bioeconomy for EU SMEs
The European Green Deal highlights the importance of using renewable biological resources and converting them into value added products. Yet while Europe leads the world in commitment to a circular bioeconomy, many innovative companies are still not able to fully unlock this potential for their technological projects and processes, due to difficulties in accessing funding, despite the available opportunities at national and EU level. A European Investment Bank’s report study shows that 77% of all bioeconomy companies experienced problems in accessing funding.
Financing plays a critical role in innovation, allowing SMEs and organisations to carry out research, adopt technologies as well as develop and commercialise these innovations.
The overall objective of P2P finBIO is to enable innovation support institutions and clusters across Europe to improve mechanism and methodologies to help SMEs raise funding as a means of increasing competitiveness, growth, and employment in Europe.
About the project
P2P finBIO is coordinated by Food & Bio Cluster Denmark and made up of four other European organisations related to the agri-food and bioeconomy sectors. The five partners are part of the innovation ecosystem in their countries and offer services related to innovation management, internationalisation of R&D and access to financing.
The partners are:
- Food & Bio Cluster Denmark (Denmark)
- Foodvalley NL (The Netherlands)
- Technological Corporation of Andalusia (Spain)
- Bioeconomy for Change (France)
- Association BLC3 – Technology and Innovation Campus (Portugal)
This project has received funding from the European Union’s Horizon 2020 research and innovation programme.
