This document discusses innovation in bioeconomy sectors for a circular economy. It covers how bioeconomies vary globally in terms of definitions, sectors, and sizes. Major global shocks like supply chain issues can impact bioeconomies. For a successful bioeconomy, broad agreement on principles, credible indicators, and effective knowledge sharing are needed. Innovation like public procurement of biobased products, public-private partnerships, and industrial symbiosis can accelerate circular bioeconomies. An example in Oakland, CA showed using locally sourced waste to power public transit removed greenhouse gases while keeping costs stable. In September 2022, the White House issued a bioeconomy executive order.

1. INNOVATION IN
BIOECONOMY SECTORS
FOR A CIRCULAR ECONOMY
Mary E. Maxon, Ph.D.
Executive Director
Schmidt Futures

2. Bioeconomies Vary Around the World
■ Definitions
– Bioresource
– Biotechnology
– Biodiversity
■ Sectors
– Agricultural
– Bioindustrial
– Biomedical
■ Sizes
– Economic turnover
– Employment

3. Impact of Major Global Shocks
■ Supply chain destabilization
■ Nationalization of value chains
■ Crises: Food, Feed, Energy
■ Global economic inflation

4. Bioeconomy and Societal Challenges
Needed for achievement of the SDGs:
– Broad agreement is needed on
guiding principles for
bioeconomy policy-making
– Credible bioeconomy indicators
to guide decisions and
investments
– Effective bioeconomy
knowledge management
platform
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Bioeconomy has the potential to
address many of the UN SDGs

5. Innovation “Pulls” for to Accelerate
Circular Bioeconomies
Public Procurement of
Biobased Products
Incentives for Public Private
Partnerships
Incentives for New Types of
Industrial Symbioses

6. Local Circular Success in the Real
World: Snapshot on Oakland, CA
2015 Public Transportation Fleet
Switched to Renewable Diesel
Made From Locally-Sourced Waste
Oil, fat, grease from 110 restaurants
3375 metric ton of GHGs removed annually
after just one year
No increased costs to Oakland residents

7. September 2022:
White House Bioeconomy
Executive Order
September 2022

8. What’s next for innovation in bioeconomy
sectors for global circular economies?