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Bio-based Business Models: specific and general learnings from recent good practice cases in different business sectors
Summary
Researchers analysed six bio-based good practice cases across different business sectors that successfully progressed from concept to market, finding that the traditional Business Model Canvas requires extension with sustainability and bioeconomy-specific factors to adequately capture the competitiveness and value chain challenges of bio-based solutions.
Business models can be a perfect tool to meet the challenges in highlighting the competitiveness and sustainability potential of bio-based solutions, and facilitating primary producers to benefit from the opportunities offered by bioeconomy. In this work six concrete bio-based good practices that have succeeded in progressing from early ideas to products on the market were analysed. These examples pose new insights that can be used by a wide range of experts and stakeholders for the analysis of benefits and challenges of value chains in the bio-based economy sectors. It is concluded that the traditional Business Model Canvas needs to be extended with additional factors related to sustainability and business ecosystem. In order to establish a practical framework promoting economic viability of bio-based business cases, the importance is highlighted for adjusting the exclusive focus on Technology Readiness Levels by introducing levels reflecting business or market readiness.
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