Nature Based Innovations in the Development of Bioeconomy

Mariusz Maciejczak

Roczniki (Annals), 2023, vol. 2023, issue 2

Abstract: The main purpose of the article was to present the benefits and challenges related to the bioeconomy as a subsector of the economy, as well as the impact of the biological revolution on the bioeconomy. The market readiness of various nature-based innovations in agriculture was also assessed. The bioeconomy was found to be a right path to sustainable development, addressing social and environmental challenges while supporting economic growth. Thus, it determines a more resilient and resource-efficient development. Naturebased innovations harness the power of nature’s resilience, efficiency and adaptability to meet societal challenges in a sustainable way. These innovations offer promising economic solutions while increasing the protection of biodiversity and the health of ecosystems. Based on feedback from key stakeholders, the Garther Hype Cycle model was developed. The productivity phase is reached by those technologies and products that have managed to break out of their niche and gain widespread acceptance. In the analysis, this level was achieved by biological control and the use of beneficial microorganisms. Biological control in particular has been identified as a nature-based technology that dominates today’s agriculture and will increase in importance in the future.

Keywords: Agribusiness; Environmental Economics and Policy (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ags:paaero:340014

DOI: 10.22004/ag.econ.340014

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