From Policy to Practice Actionable Recommendations for a Commercial Bioeconomy 2025

Page 13 of 39 · WEF_From_Policy_to_Practice_Actionable_Recommendations_for_a_Commercial_Bioeconomy_2025.pdf

Recommendation 4 Greater exposure to and engagement with regulation-making What if every step of the regulation-making process was more transparent, providing innovators, scientists and the public with greater exposure to policies that drive progress? Regulation affects everyone, yet pathways for businesses, consumers and civil society to gain exposure are often unclear. This opacity can undermine trust in both regulations and the processes behind them. To promote transparency across innovation and regulatory systems, stakeholders need clearer access to information and the rationale behind decisions, promoting trust and enabling more effective navigation of frameworks (Box 3). The Israel Innovation Authority’s Disruptive Innovation Program offers early-stage companies ongoing regulatory support. By facilitating continuous communication with regulators, the programme enables more transparent and predictable decision- making. Close collaboration during R&D helps start-ups understand necessary standards and their rationale, reducing delays and minimizing misinterpretation. This proactive approach enhances transparency, mitigates uncertainty, and ensures innovation aligns with public health and safety objectives from the outset. Building trust through public consultation BOX 3 Description Improving exposure to the regulatory process will enhance transparency for innovators and public stakeholders, build trust, and demystify the pursuit of regulatory approval. Example The Israel Innovation Authority’s Disruptive Innovation Program provides awardees with direct and ongoing support from the Israeli Ministry of Health to navigate and facilitate regulatory processes.25Recommendation 4 Public consultations represent another key mechanism for enhancing regulatory transparency. Inviting feedback before finalizing regulation offers several advantages: it makes the process more inclusive while strengthening the quality and effectiveness of regulations. Moreover, engaging stakeholders establishes a sense of ownership and acceptance among those most affected, thereby boosting public confidence in both the regulation and the government itself. Public consultations provide stakeholders with an opportunity to understand and respond to the reasoning behind proposed rules. In Saudi Arabia, public consultation is increasingly being used across a range of sectors to inform policies and regulations – an important step towards more transparent and participatory governance. 13 From Policy to Practice: Actionable Recommendations for a Commercial Bioeconomy
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