The Top 10 Australian Bioeconomy stories of 2016

#1: Queensland’s Biofutures 10-Year Roadmap and Action Plan

Earlier this month, Queensland premier Annastacia Palaszczuk launched the Queensland Biofutures 10-Year Roadmap and Action Plan. The roadmap supports the establishment of a biofutures industry in Queensland and will unlock the state’s potential to produce advanced biofuels, biochemicals, bioplastics and other biomaterials from sustainable organic and/or waste resources, rather than fossil fuels. Biofutures is seen internationally as the next wave of economic development, providing major opportunities for innovation, jobs and growth.

A total of 20 key actions have been identified and will be delivered under the Queensland Biofutures Roadmap and Action Plan including:

• the establishment of Biofutures Queensland including the appointment of a Biofutures Industry Envoy and a jointly-funded Research Chair for Advanced Biofuels

• $5 million Biofutures Industry Development Fund

• $5 million Commercialisation Fund

• $4 million Biofutures Acceleration Program.

“Queensland has the potential to become a leading producer of bioproducts and technologies, creating new markets for both technology developers and agricultural producers and providing significant regional development prospects for the state,” the government said in issuing the Roadmap. “The Queensland Government has a vision for a $1 billion sustainable and export-oriented industrial biotechnology and bioproducts sector, attracting significant international investment, and creating regional, high-value and knowledge-intensive jobs.”

Byogy CEO Kevin Weiss went one step further: The Queensland government is among the most proactive entites in the world, fully behind and the push a bioeconomy, and we’ve had incredible support from the Premier and her staff.”