Socio-economic impact

Since its inception in 2014, the BBI JU has contributed to developing a sustainable bio-based industry sector in Europe, providing environmental and socio-economic benefits for European citizens. In particular, BBI JU projects have contributed to:

Creating jobs: 83% of ongoing BBI JU-funded projects result in the creation of new skilled jobs. In particular, 53% of projects create jobs in rural regions and 15% in coastal areas. 68% of these jobs are in product development and engineering. The first 14 flagship biorefineries funded by BBI JU will generate more than 3,500 direct and more than 10,000 indirect jobs.
 

Attracting investments: €2.5 billion of private investments will be leveraged by €272 million of BBI JU funding for the first 14 flagship projects. By 2024, the total industry’s participation in BBI JU-funded projects is expected to be nearly three times higher than the BBI JU funding.
 

Fostering collaborations: 74% of the projects increase the cooperation between academia and industry, as well as across regions and countries, which would not happen otherwise.
 

Boosting innovation: 81% of projects create knowledge and come up with scientific breakthroughs. 44% have produced new patents and IP rights, and 13% created spin-offs and start-ups.

 

Supporting primary producers: 32% of projects help primary producers, such as European farmers, diversify their income sources, thus contributing to rural development.
 

Protecting health: 44% of BBI JU-funded projects produce healthier products than their fossil-based equivalents. Some of them focus on developing safer solvents and chemicals, while others develop bio-based pesticides, thus giving farmers sustainable alternatives for crop protection. Moreover, circular bio-based production processes contribute to considerably reducing waste and plastic pollution.
 

Enabling change: 61% of the projects provide training and education in the bioeconomy, preparing students, researchers, and professionals for new jobs in the sector. Additionally, 68% of the projects increase the awareness and understanding of the bio-based economy amongst citizens and empower them to become actors of change.

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