November 30, 2018
BY Biotechnology Innovation Organization
A study released Nov. 19 highlights strategies, policies and best practices that have been successful in creating an environment in which biotechnology innovation can flourish around the world.
The fifth edition of the Building the Bioeconomy report shows the correlation between economies with pro-innovation policy frameworks and those achieving strong biotechnology outputs. By examining 28 different indicators, the report provides a full and detailed analysis of the biotechnology environment for 33 countries from all major regions of the world.
“Regulations need to strike a balance that stimulates innovation without dampening broader economic efficiencies. More than in other industry, the interplay between biotechnology innovation and regulation has important social and economic implications, said Joseph Damond, executive vice president, international affairs at Biotechnology Innovation Organization. “As this report demonstrates, countries that are leading the biotech economy are the ones where forward-looking regulations encourage, not hinder, innovation.”
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This data-driven report developed by Pugatch Consilium compares economies on over 20 policy inputs and biotech outputs showing how regulations effect success or failure in driving industry growth. Economies that have stronger environments with all enabling policy factors in place yield higher biotechnology outputs. Adopting a strong policy framework is key to reaping the economic and social benefit of this important industry.
“Designing policies to foster biotech innovation is not an easy task,” said Prof. Meir Pugatch, IPKM Chair, University of Maastricht and Managing Director, Pugatch Consilium. “To build a thriving biotechnology sector, whether it be agriculture, health or industrial applications, countries need strong intellectual property protections, a pro-innovation regulatory environment and robust technology transfer procedures. Funding research without establishing these elements is simply not enough. Countries should also think twice about so called mandatory localization policies and the over-riding of property rights including the issuing of compulsory licenses outside public health crises. Country experience suggests quite strongly that these policies are not effective in achieving the long-term goal of building a bioeconomy.”
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The U.S. Energy Information Administration maintained its forecast for 2025 and 2026 biodiesel, renewable diesel and sustainable aviation fuel (SAF) production in its latest Short-Term Energy Outlook, released July 8.
XCF Global Inc. on July 10 shared its strategic plan to invest close to $1 billion in developing a network of SAF production facilities, expanding its U.S. footprint, and advancing its international growth strategy.
U.S. fuel ethanol capacity fell slightly in April, while biodiesel and renewable diesel capacity held steady, according to data released by the U.S. EIA on June 30. Feedstock consumption was down when compared to the previous month.
XCF Global Inc. on July 8 provided a production update on its flagship New Rise Reno facility, underscoring that the plant has successfully produced SAF, renewable diesel, and renewable naphtha during its initial ramp-up.
The USDA’s Risk Management Agency is implementing multiple changes to the Camelina pilot insurance program for the 2026 and succeeding crop years. The changes will expand coverage options and provide greater flexibility for producers.