Only three months have passed since the launch of Bioboost, an accelerator to support companies in new developments in the field of bioeconomy in Catalonia, and the initial expectations of this initiative have already been exceeded. "In the next four years, we want to attract private capital projects with a joint investment of at least 30 million euros. But we believe that in one year we will have on the table and under study a set of proposals for 100 million euros in resources to invest."
These forecasts are pointed out by Eric Suñol, managing partner of Inveniam and one of the ideologues of Bioboost. His company is one of the promoters of the accelerator, constituted as a business consortium together with the companies Símbiosy and Aeris Tecnologías Ambientales and the law firm RocaJunyent.
The four actors have joined forces to support other companies --large corporations, SMEs and emerging firms-- or entities that want to create new products or services by taking advantage of biological resources from the agricultural and industrial sectors, such as energy or material recovery projects from waste, and circular economy. In fact, they have several projects in their portfolio that show sufficient profitability to be invested solely and exclusively by the private sector, without having to resort to aid or subsidies, explain its promoters. But these are generally new activities that require a certain time to implement, therefore, "we rule out, from the outset, being able to avail ourselves of the Next Generation EU funds," they assure.
Bioboost will be dedicated to accompanying the entire process of development and implementation of projects "because that is what it was created for, to find solutions to all the obstacles that these types of initiatives encounter, from regulations, administrative procedures, the meeting point and consensus among all the stakeholders that are necessary to make them a reality, financing, economic viability...". And it is at all these levels where Bioboost will act, aware that there are great ideas that fall by the wayside due to the inconveniences that arise. Even social ones, "because the acceptance of this type of action is essential to ensure its success". This aspect, argues Xavier Foz, partner at RocaJunyent and head of the banking and financial law area, is improving with the growing awareness of the environment and sustainability shown by new generations.
The collaboration between Inveniam, a financial advisory services, strategic consulting, and public financing support firm; Aeris Tecnologías Ambientales, a spin-off of the Autonomous University of Barcelona (UAB) formed by experts from the GENOCOV research group with the aim of helping industries and public entities improve the environmental quality of emissions; and Símbiosy, an engineering firm specializing in circular economy and industrial symbiosis, arises from the confluence of interests.
For its part, RocaJunyent will act as a facilitator in communication with regulatory agencies and competent public bodies and will help in the search for solutions to any identified legal difficulties, explains Sergi Chimenos, managing partner of RocaJunyent's public law department.
The very typology of the projects is the perimeter that gives reason to this initiative designed for the whole of Catalonia: projects that value waste that is not being used to replace things that are used and that do not have a circular cycle; that is, to replicate a process that nature itself does with the same waste. For its work of study, analysis, definition, and implementation of future businesses or services, the consortium has funding from the European Commission (EC) and the dedication of some of the professionals from the promoting companies.
Bioboost seeks projects that replicate the waste reuse process that nature itself does on its own.We are talking, then, about new systems to generate biochar from biomass, or to transform livestock, agro-industrial, and water treatment plant sludge waste, but also part of household waste, into production ofbiogas and biomethane---a renewable alternative to fossil fuels and that, when organic fractions are used, serves as organic fertilizers and soil improvements---. These are some examples of what fits into Bioboost.
With the added fact that "normally these are approaches that, until all the parties that must intervene agree, become eternal, and this implies a cost of time and money that often, added to existing and changing regulations, makes many ideas remain on paper." Especially if they come from SMEs or startups; "large companies have more financial muscle" and can start them despite the deadlines. Hence the role of "accelerator" that Bioboost will have.
The initiative aims to reduce the execution time of bioeconomy and circular economy projects and solve all the obstacles involved in launching themThe consortium will assume all the prior evaluation of each project (technical analysis, regulations, business definition, possible search for financing, consensus among the involved parties...) and development standards can be reduced from five to three or two years, for example, points out Eric Suñol.
It will be a turnkey solution that may even include the definition of the economic model necessary to exploit the project and make it make sense for all parties. "The portfolio of projects we have now will be the spearhead and surely many more companies will join the initiative, and although the purpose should not always be to launch a new product on the market, new very interesting business niches will surely open up," specifies Xavier Foz.
Among the EU's research and innovation programs, Bioboost joins other projects related to the bioeconomy and circular economy, such as the Finnish FlexSNG, the Belgian BECoop, or the Spanish BeonNAT and WaysTUP!.