Boosting Circular Bioeconomy in the Baltic Sea Region with a Business-Driven Inter-regional Open Innovation Process

Abstract

Implemented in 2023–2025, “BioBoosters – Boosting Circular Transition” project aims to advance circular transition of bioeconomy business in the Baltic Sea Region. As identified in the regional and macroregional strategies, the rural areas of Baltic Sea region have a great potential for bioeconomy as they have abundant natural resources. However, these regions struggle to grow the bioeconomy sectors, to provide job opportunities, and to tap into global market opportunities due to limited human capital, business networks and innovation capacity. BioBoosters Hackathon is connecting the bioeconomy innovation ecosystems of nine regions and seven countries across the Baltic Sea Region. Hence, we argue that BioBoosters Hackathons can offer a platform for inter-regional smart specialization co-operation with a business-driven approach. Hackathons have proven to offer a practical and effective open innovation method for generating and prototyping ideas as well as for collaborative and cross-sectoral learning. As a result of the BioBoosters Hackathons, we have anticipated to launch international and business-driven research, development, and innovation (RDI) projects and partnerships in the scope of circular bioeconomy. The figures and feedback survey results on the first nine BioBoosters Hackathons implemented in September 2023–May 2024 are elaborated in this article to show evidence of the scope of inter-regional connectivity and the impact to launching international co-operation boosting circular bioeconomy in the Baltic Sea Region.