The European project P2P finBIO officially kicked off with the aim of contributing to improve the access to funding for European SMEs in the bioeconomy sector. CTA (Technological Corporation of Andalusia) is the only Spanish partner participating in this initiative, that has received funding from the European Union’s Horizon 2020 research and innovation programme.
The consortium consists of five European organisations which will work in close collaboration to develop a guide of good practices and funding instruments of the national and European scene. The project will enable innovation support institutions and clusters in regions across Europe to improve mechanism and methodologies to help SMEs raise finance as a means of increasing competitiveness, growth, and employment in Europe.
Unlocking the potential of the circular bioeconomy
The EU is committed to the circular bioeconomy as a response to reduce the dependence on fossil fuels and improve the environmental, social and economic sustainability of production processes. Furthermore, the bioeconomy contributes to reducing polluting emissions, improving food security and generating growth and employment in Europe, especially in rural areas.
However, many innovative companies are not able to unlock the great potential of the bioeconomy for their projects and technological processes due to difficulties in accessing financing.
The P2P finBIO will help SMEs overcome the “valley of death”, i.e., to obtain financing to turn the idea into business.
About the project
P2P finBIO is coordinated by Food & Bio Cluster Denmark and made up of four other European organisations which work closely with the agri-food and bioeconomy sectors. The five partners are part of the national innovation ecosystem in their respective regions, and offer services related to innovation management, business modelling, internationalisation and facilitating access to funding.
The partners are:
- Food & Bio Cluster Denmark (Denmark)
- Foodvalley (The Netherlands)
- Association Industries et Agro-Ressources (France)
- Association BLC3 – Technology and Innovation Campus (Portugal)
- Technological Corporation of Andalusia (Spain)