40

European Strategy for Key Enabling Technologies48 has identified industrial biotechnology as one of the KETs. Furthermore, Blue Biotechnology was highlighted within the Action Plan for the EU Integrated Maritime Policy49 which had called for increased investment into the sector. Additionally, the European Strategy for Marine and Maritime Research50 also prioritised marine biodiversity and biotechnology research, and recognised its potential to contribute to new knowledge on which to base high value products and processes and increase marine resources and biodiversity understanding. The Horizon 2020 programme that supports frontline research in Europe has recently released its calls for funding of research, several of which are focused on Biotechnology and specifically Blue Biotechnology which indicates the perceived importance of such technology. Table 3.5 gives an indication towards potential applications of new discoveries off the back of potential Blue Biotechnology KETs. Table 3.5 Examples of Horizon 2020 calls for funding of research Call Description NMP 10–2014 NMP 12–2015 BIOTEC 1–2014 Biomaterials for the treatment of diabetes mellitus Biomaterials for treatment and prevention of Alzheimer’s disease Synthetic biology – construction of organisms for new products and processes BIOTEC 3–2014 Widening industrial application of enzymatic processes BIOTEC 4–2014 FoF 12 – 2015 Downstream processes unlocking biotechnological transformations Industrial technologies for advanced joining and assembly processes of multi-materials It is estimated that for every Euro invested into R&D for industrial biotechnology and biotechnological KETs there will be a tenfold return.51 The European Competitiveness Report 2010 indicated a global current market volume of KETs to stand at USD 646 billion (EUR 471.6 billion) around 2006/2008, which is projected to grow to over EUR 1 trillion by 2015. Capital The growth of the industry has meant an increased demand for investment and the need to raise capital. There have been four main types of acquiring such new capital: 1) IPOs: These “Initial public offerings” are sales of companies (or parts of them) to the public, allowing them to be traded on stock exchanges; 2) Follow-on and other: Follow-on offering are sales of other shares of the company after an IPO has taken place, or raising of additional capital from public investors. There are also several other mechanisms and financial products that facilitate raising capital from private and/or public investors, that are also included in this category; 3) Debt: The most common mechanism is for a business to take credit with a bank (although there are other and more complex debt financial products). The debt has to be repaid in full, plus interest in a given time frame. The inability can result in forced closure of the business and liquidation of assets to pay back the debt. It is therefore different significantly different from the other equity based methods; 48 Communication from the Commission to the European Parliament, The Council, The European Economic and Social Committee and the Committee of the Regions ‘A European strategy for Key Enabling Technologies – A bridge to growth and jobs’ /* COM/2012/0341 final http://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX:52012DC0341 49 An Integrated Maritime Policy for the European Union.http://eurlex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:52007DC0575:EN:NOT 51 Innovating for Sustainable Growth: A Bioeconomy for Europe, COM(2012) 60 50 A European strategy for marine and maritime research : a coherent European research area framework in support of a sustainable use of oceans and seas. http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:52008DC0534:EN:NOT 22 Study in support of Impact Assessment work on Blue Biotechnology

41 Publizr Home