Bioeconomy consists of the management of renewable biological resources and their conversion into food, livestock feed, bio-based products and bioenergy. It involves tackling major challenges, both now and in the future. Bioeconomy is one of the cornerstones for the Baltic Sea Region economies. The region is extremely rich of forest biomass, has strong agricultural sector and the blue bioeconomy is well developed. The region, as a net biomass producer, can realize a great opportunity by focusing on increasing the value of products and services throughout the value chain.
Innovation - the process of finding new smart solutions to address our common challenges - has its own dedicated policy area in the EU Strategy for the Baltic Sea Region. Policy area (PA) Innovation, as one out of 13 policy areas, demonstrates the commitment and importance that the countries in this region assign to strengthening their innovative position on the global stage. As such, PA-innovation contributes to the EU strategy’s goal of economic growth and increased prosperity in the Baltic Sea Region.