At this point, we are planning a face-to-face event for Scaling Up 2021. But whether we are virtual or live, we can promise that Canada’s annual international industrial bioeconomy business conference will again bring together top drawer speakers from Europe, the UK, the US, Canada, and beyond.
In May 2020, the consultancy McKinsey Global reported that bioeconomy applications available today “could have direct economic impact of up to $4 trillion a year over the next ten to 20 years. More than half could be in domains such as agriculture and food, consumer products and services, and materials and energy production.”
In other words, the potential for the industrial bioeconomy by 2030 is $2 trillion Per Year. And that does not take into account applications yet to emerge due to breakthroughs in the science over the next decade.
With 348 million hectares of forests, and over 60 million hectares in agriculture, Canada has a world leading opportunity to capture a material portion of that $2 trillion market. How Canada will take advantage of this emerging and competitive space is part of what will be assessed at Scaling Up 2021.
Governments have a critical role to play in setting a policy framework that enables innovation to become commercially available such that companies can capture a portion of this bioeconomy market. Some of the globe’s leading proponents in the cleantech, environment, industrial bioeconomy, and government policy domain will address this opportunity.