Born Global makes call for bio-based technologies
In 2009, the World Economic Forum launched a collaborative innovation initiative that identified Bio-Economies (Bio-Technology, Bio-Products, and Bio-Energy) will have a transformative effect on the world’s economy. While innovation is the clear driver in this transformation, moving an industry from R&D to commercialization is a daunting task. Worldwide innovation is dispersed and few companies willingly open technology platforms to build complete solutions to Bio-Driven products.
Born Global is committed to driving a rapid phase of technology commercialization in the Bio-Economy. The Born Global collective effort leads to impactful investments into our next generation of scientists, researchers and innovators for high quality, high paying jobs that have a direct influence on global economies now and a bright and innovative future for our children.
The Born Global Innovation Challenge directed by Synthesis Venture Fund Partners is a first of its kind that starts with identifying real market needs for new innovative products and mines back through the innovative ecosystems already in place to find the people and technologies that can make it happen.
The Challenge establishes Bio-Based conversion platforms to support emerging technologies and complete utilization pathways for the delivery of Bio-Based products. The Challenge accommodates multiple technology maturities to guide company development along the paths of least resistance to commercialization and established offtake markets. The integration platform for closed-loop, zero waste Bio-Economies aligns the structuring of policy initiatives and market interests to pull needed technologies and products effectively, rather than pushing innovation onto markets without sufficient market understanding.
The Five Phase Born Global Innovation Challenge tailored to the specific market need is launched to source the best global solutions and implement real projects through the following steps:
- Phase I – Prequalification
- Phase II – Expert Due Diligence
- Phase III – Teaming Arrangements
- Phase IV – Proof of Commercialization and Financeable Business Plans
- Phase V – Project Organization and Construction
The first Born Global Innovation Challenge was the Maine Born Global Innovation Challenge which resulted in 56 applicants and 14 companies continuing through prequalification and due diligence. The Challenge will result in a techno-economic analysis of 2-3 utilization pathways for woody biomass that will be developed into financeable business plans for implementation within the State of Maine. You can see the complete list of prequalified companies here: www.synthesis-vfp.com.
The second ongoing Challenge is the Born Global Slip-Stream Challenge. The Born Global Slip-Stream Challenge aims to drive the development and commercialization of innovative products from biorefinery and bioenergy processes. The focus is on Biochar, Wood Ash, CO2, Lignin, Waxes and C5/C6 sugars with a goal to improve the overall profitability of bio-based projects and create replicable models for