From Policy to Practice Actionable Recommendations for a Commercial Bioeconomy 2025

Introduction Policy frameworks are essential tools that offer structured and adaptable recommendations for decision-making and implementation. They provide a strategic blueprint that individual governments and jurisdictions can tailor to address emerging challenges and advance national goals. By promoting consistency and harmonization, these frameworks help balance innovation, safety and public interest. Policy frameworks serve as the foundation for supportive enablers that drive systematic progress across various fields and industries. Historically, policy frameworks have guided the successful commercial development and deployment of emerging technologies. For instance, the policy frameworks established during 2010 in China around electric vehicles (EVs) and battery technology combined government subsidies, infrastructure development and emissions regulations.1 This multifaceted approach catalysed China’s emergence as the world’s largest EV market today and a leader in battery innovation, driving corresponding cost reduction globally. Bio-innovation is evolving commercially by integrating life sciences with convergent technological advances to reshape industries, societies and ecosystems. As bio-innovation becomes increasingly commercialized, it is poised to generate significant economic impact, transforming the products, services and systems that underpin the global economy. With applications spanning healthcare, agriculture, energy and manufacturing, engineering biology offers wide- reaching potential: from improving medical treatments to developing sustainable materials, renewable energy and resilient food systems.2 Recognizing its systemic value, governments worldwide are implementing strategies to develop robust and competitive bioeconomies; since 2010 alone, more than 50 national strategies dedicated to the bioeconomy have been published.3 However, for collective ambitions to translate into tangible economic outputs, strategy documents must be transformed into focused, concrete action. Why a thriving commercial bioeconomy matters now The global bioeconomy is expanding rapidly and already contributes substantially to GDP (gross domestic product).4,5 Owing to lengthy timelines and costs associated with commercialization, bio- innovation has a long way to go before becoming a viable commercial tool across industries. Beyond driving economic growth and industrial transformation, the bioeconomy offers sustainable industrial alternatives and represents additional avenues for national supply chain resilience and competitiveness. Investing in local supply chains enables governments and businesses to diversify sourcing, bolster domestic innovation, and ensure a steady supply of critical goods and services, especially in key sectors such as healthcare and defence. These investments not only strengthen resilient domestic production but also serve as valuable drivers of economic growth. The bioeconomy as a tool to bolster national resilience during trade uncertainty Trade uncertainties can significantly disrupt non- domestic supply chains, driving nations to bolster domestic manufacturing capabilities and prioritize innovation. During trade instability, many countries seek to reduce reliance on foreign sources for critical materials such as pharmaceuticals, fuels and food. Strengthening domestic biomanufacturing capabilities enhances a nation’s ability to respond to pandemics, bioterrorism and other biological threats.The bioeconomy is poised to generate significant economic impact. From Policy to Practice: Actionable Recommendations for a Commercial Bioeconomy 5