Next Generation Bio Innovation 2025

Moving forward: Designing for greater commercial viability Bio-innovation has shown glimmers of promise across industries to drive markets and in the future-proofing of value chains. Given the significant challenges that persist, many bio-innovations have failed to establish commercial viability by leading with a “technology-first” lens with too little focus on “make-or-break” commercial factors. To move beyond the technology-push approach of hype cycles of the past, bio-innovation must be designed earlier for value creation, seamlessly integrating backwards to drive existing and new business models and production set-ups. History has repeatedly demonstrated that green premiums don’t work; a meaningful transformation won’t be possible on price parity alone. Wider value must be created, captured and conveyed. Such a transformation requires sharper focus on market drivers and a concrete understanding of where product value will be higher (e.g. higher-paying segments or new value areas). Beyond responding to and capturing existing value, bio-innovation must generate future demand through strategic commercialization that is supported by enabling policy, funding and accessible technology, and appeals to and educates customers. To unlock commercial viability, bio-innovations must align with regulation and deliver value for both production systems and end- consumers. Technology remains central to shaping this value, but it represents only one step in the journey to realizing a truly commercial, scaled bioeconomy. Next Generation Bio-Innovation: Delivering Commercial Value 11