25 Reasons Why New Brunswick Needs to Transition to a Bioeconomy
If you follow our social media accounts, you’re probably already aware that this year marks 25 years since BioNB began our mission to be the leading impact organization in the bioscience sector driving NB’s bioeconomy. While our 25-year celebration will culminate in a socially distanced event in September, we came up with a way for all of you to celebrate with us. We hope you enjoy the lists of 25 we’ve created to mark the occasion and that you learn a thing or two about the bioeconomy.
If you missed our first list, you can find it here.
Our next list explores both global and national reasons why the time for New Brunswick to take advantage of its resource endowment and technology innovation sectors to help it transition to a sustainable bioeconomy is now. The bioeconomy for New Brunswick means revisiting our strengths and leveraging our assets. While the bioeconomy as a whole, should be looked at as a more sustainable and thus resilient economy, there are a few areas where New Brunswick already has the strenghts necessary to be a global leader.
Waste streams (biomass) from our traditional resource-based sectors don’t just create value-added products for export, they provide opportunity for technology innovation and adoption while creating jobs and helping us continue to meet our climate objectives (https://bit.ly/3xcfzZ4).
With a growing global population, New Brunswick has an opportunity to further cash in on global export markets that, even in 2014, were valued at $2T USD (https://thefutureeconomy.ca/op-eds/jeff-pasmore/). These export markets will allow us to take full advantage of the new innovations we are witnessing in computing, data analytics, machine learning, artificial intelligence, and biological engineering as we marry them to our significant resource endowments.
Our province has numerous research institutions which, like BioNB, help drive innovation in our bioeconomy. Investments in these research institutions and our academic institutions will only help to build our future workforce, create new bio-based businesses and grow existing bio-based businesses. Aligning highly qualified personnel (HQP) from these institutions with the opportunities to innovate within our traditional sectors will only help create more jobs and further grow the ancillary industries that support our traditional sectors. For example, a farm isn’t just for farmers. Modern and innovative farms need technicians, manufacturing and processing, cleantech, AI for data management, and even cyber security. When you invest in a farm of the future, you’re investing across multiple sectors (https://bit.ly/3ydDbxP).
The bioscience sector doesn’t just help us solve and mitigate the effects of climate change like our last list suggested, it also helps us transition to a more resilient bioeconomy, capable of weathering sudden market shocks as we witnessed during COVID-19. As we witnessed over the last year, bioscience allowed us to design and produce novel vaccines in record time; it helped us understand the importance of food security and sustainability and how we can mitigate those risks in the future; it also helped us innovate in sectors like healthcare and energy.
Here’s a bioeconomy refresher:
The bioeconomy includes the production and use of renewable biological resources as well as economic activities related to the invention, development, production and use of bio-based products and processes. The opportunities include, but are not limited to:
|Agriculture||Forestry||Aquaculture & Fisheries|
|Clean Tech||Industrial Goods/Processing||Bio-chemicals|
|Life Sciences/Animal Sciences||Human Health/Med Tech||Bio-based Energy|
|Waste Transformation||Biomaterials||Natural Products|
|Food and Feed||Bioplastics||Synthetic Biology|
If you have any questions about the bioeconomy, BioNB or our 25 years in business, please contact our Marketing & Communications Director, Andrew Byrne, at email@example.com