Circular Bioeconomy Business Models to Overcome the Valley of Death. A Systematic Statistical Analysis of Studies and Projects in Emerging Bio-Based Technologies and Trends Linked to the SME Instrument Support

Fabiana Gatto and Ilaria Re
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Fabiana Gatto: Consorzio Italbiotec, 20138 Milan, Italy
Ilaria Re: Consorzio Italbiotec, 20138 Milan, Italy

Sustainability, 2021, vol. 13, issue 4, 1-40

Abstract: Reducing the environmental pressure along the products life cycle, increasing efficiency in the consumption of resources and use of renewable raw materials, and shifting the economic system toward a circular and a climate-neutral model represent the heart of the current macro-trends of the European Union (EU) policy agendas. The circular economy and bioeconomy concepts introduced in the EU’s Circular Economy Action Plan and the Bioeconomy Strategy support innovation in rethinking economic systems focusing on market uptaking of greener solutions based on less-intensive resource consumption. In recent decades, industrial research has devoted enormous investments to demonstrate sustainable circular bio-based business models capable of overcoming the “ Valley of Death ” through alternative strategic orientations of “ technological-push ” and “ market-pull ”. The study highlights industrial research’s evolution on bio-based circular business model validation, trends, and topics with particular attention to the empowering capacity of start-ups and small and medium-sized enterprises (SMEs) to close the loops in renewable biological use and reduce dependence on fossil fuels. The research methodology involves a bibliographic search based on the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) approach and the European Innovation Council (EIC) Accelerator Data Hub investigation to understand SMEs’ key success factors and start-ups of the circular bioeconomy sector. Eco and bio-based materials, nutraceuticals, and microalgae represent the most sustainable industry applications, leading to circular bioeconomy business models’ future perspective.

Keywords: circular bioeconomy; circular bioeconomy business model; valley of death; SME; startup (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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