From Policy to Practice Actionable Recommendations for a Commercial Bioeconomy 2025

Page 11 of 39 · WEF_From_Policy_to_Practice_Actionable_Recommendations_for_a_Commercial_Bioeconomy_2025.pdf

Description Greater access to testbeds for commercial bio-innovation will accelerate testing and iteration, increase engagement with regulators, and help bring breakthrough innovations to market more quickly. Example Co-funded by EIT Food and the European Union, Test Farms is a programme that empowers start-ups and individuals with groundbreaking agritech solutions to test, validate and showcase their products and services by providing ample access to real farms in Poland, Spain and Portugal.21 Innovation testbeds and regulatory sandboxes serve as complementary policy tools, providing flexible, forward-thinking regulatory approaches and encouraging collaboration between regulators and innovators to co-develop frameworks for emerging technologies. Expanding access to testbeds will strengthen commercial pathways, maximize societal benefits, and enable earlier, more accurate assessments of safety and efficacy. Recommendation 2 Streamlined regulatory pathways designed for purpose What if regulatory mechanisms were shaped at the onset to deliver innovative outcomes for humanity faster? In today’s fast-moving landscape, technological advancement often outpaces the development of regulations. This challenge is compounded by the cross-disciplinary nature of emerging bio-innovations, which frequently fall outside the scope of existing regulatory frameworks, ultimately delaying their entry into the market.As a result, regulations often become outdated or misaligned with emerging technologies, failing to serve their intended purpose. For example, under certain EU regulations, microbes are classified as chemical pesticides, overlooking their unique biological properties and limiting their potential.22 Persisting with outdated, misaligned regulations stifles bio-innovation, limiting consumers, patients and other beneficiaries from accessing their transformative benefits. Recommendation 1 Description Streamlined, purpose-built regulatory pathways will accelerate approvals, ensure relevant and effective safety testing, and help deliver the benefits of bio-innovation to society more quickly. Example The Regulatory Innovation Office (RIO) aims to position the UK as a global leader in innovation by creating a more agile regulatory environment, ensuring that cutting-edge technologies reach the public swiftly and safely.23 The RIO aims to update regulations, accelerate approvals and improve coordination among regulatory bodies. Recommendation 2 11 From Policy to Practice: Actionable Recommendations for a Commercial Bioeconomy
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