The program has ended on 31 December 2022.
Circular economy is more than recycling. It means creation of added value across value chain through business models with extended lifecycles and circulation of materials. Circular economy is an economic model that affects businesses in all sectors and industries. All businesses should reassess their products and values from the perspective of identifying solutions that generate added value by extending lifecycles and promoting the circulation of materials.
Digital business platforms and ecosystem services allow new methods of collaboration, networking and synergies between companies. The use of data and artificial intelligence offers new opportunities for product and material recycling. Robotics, blockchains and cryptocurrencies enable novel material flow management, tracing, exchanging and logistics solutions.
Massive global markets exist for bio-based and recycled textiles and packaging materials to replace plastic and other environmentally straining raw materials. Finland is a significant player in the global market particularly in the supply of high-quality fiber packaging.
In the future, earnings models will shift increasingly from products to services. Product recycling, spare parts, re-engineering and further processing services, leasing and renting will prolong the lifecycle and make everyday life easier. These services will generate new business for forerunner companies.
Responsibility and solutions that make everyday life easier have become competitive factors. Finland represents only a tiny portion of global markets. For this reason, businesses that offer services and products to consumers should identify the opportunities presented by global markets. Team Finland’s international network can help your company in identifying target markets and reaching the right contacts and customers.
The program supported the development of competitive bio and circular economy solutions and ecosystems that offer solutions to global environmental challenges and hold potential for significant global markets. Our aim was to increase the exports of bio and circular economy solutions in order for Finnish solutions to be adopted in international markets. The program directed export activities particularly for the plastic and packaging industries. It also supported new innovations in various sectors of circular economy, particularly for new applications in textiles and construction.
The program was carried out over a four-year period and its budget was 300 million euros. Business Finland’s innovation funding made up 150 million of this sum. In addition, the program offered internationalization services and renewable ecosystems that also help attract foreign talent, companies and investors to Finland. Program granted over 50 million euros of funding to projects.
In addition to the program’s focused internationalization activities, bio and circular economy companies have access to Business Finland’s standard funding instruments for supporting the prerequisites for internationalization, as well as the Business Finland network of experts, who provide contacts and assistance in identifying global market opportunities.
The program supported the development of bio and circular ecosystems. In ecosystems, the exploitation of research data and the development of new Finnish export solutions are being accelerated.
TEPAKETJU - a co-innovation project for developing innovative sustainable products
Funding by the Bio & Circular Finland program have be used to support the development of innovation and export ecosystems. Ecosystems are formed of companies, research institutes, customers and municipalities that engage in joint R&D projects and facilitate the creation of a business environment that supports the program’s aims.
Examples of ecosystems launched in the program:
CARBO – Carbon neutral milk chain
ForBest – Environmentally friendly textiles from wood
UPM building a new ecosystem for wood-based biomedical solutions
Solving the sustainability gap by reusing metals
Environmental handprint tells of positive environmental actions