Bio Base NWE, a three-year project co-financed by the INTERREG IVB programme of the European Union, has come to an end and proudly presents its results.
This network of biobased economy experts advised over 500 small and medium enterprises (SME’s) to facilitate innovation and business development in biobased technologies and to stimulate the growth of the biobased economy in Northwest Europe (NWE). 27 SMEs received financial support through the project to conduct feasibility studies and scale-up trials at the Bio Base Europe Pilot Plant (Ghent, Belgium). Almost all of them declared these trials speeded up the commercialisation of their innovation.
The work done within the innovation coupons scheme created a substantial leverage effect: up to €71million of investments and the creation of 320 new jobs in the biobased economy in the coming years. Furthermore the project partners discussed policy recommendations with their local and EU policy makers aimed at removing the hurdles SME’s encounter during their journey to bring lab scale innovations to the market.