UPM-Biofore-Magazine-1-2016-EN

million of this key project funding. “The purpose of the projects is to strengthen collaboration between administration, companies, the business world and the academic community. Another aim is to remove obstacles related to legislation or permit processes that have proved to be bottlenecks in the past,” Peltonen says. Public support to risk-takers The general aim of public funding is to accelerate product development and commercialisation. “It is important that companies and industries have faith in the future and show their willingness to invest in research and new ideas. The government supports risk-taking that promotes economic growth, exports and the creation of new jobs.” The Technical Research Centre of Finland (VTT) and the Finnish Funding Agency for Innovation (Tekes) have an important role in the process. The funding and loans provided by Tekes are used to carry out research that not only provides commercial opportunities but also yields innovations that benefit society at large. Peltonen adds that the reform of the legislation on public procurement will also help to promote new innovations. “Public procurements amount to around EUR 20 to 30 billion annually. If one per cent of this sum, around EUR 200–300million, can be earmarked for accelerating new innovations, we will be able to increase demand for new bio-based solutions.” Peltonen believes that the key government-run projects of the future will develop the Finnish bioeconomy in a more focused way than before. “But we must keep inmind that other countries are also taking major steps in their biosectors. In order to maintain our head start, we must safeguard our competitiveness and encourage companies to boldly experiment and develop new ideas.”

Jyrki Ovaska

Out with fossil materials, in with renewable alternatives This is the next major shift we will be seeing in industrial production. UPM is promoting new bioeconomy projects both through its own investments and through international funding and collaboration. UPM’s Biofore strategy provides a strong foundation for the company’s R&D and the development of new products, affirms Jyrki Ovaska , Executive Vice President, Technology at UPM. “We want to contribute to developing the bioeconomy by researching and manufacturing new bio-based products, such as biofuels, biochemicals and biocomposites.” Developing new technology and launching new products takes time and requires a certain amount of patience. The journey from laboratory to market often takes seven to ten years. “The most significant new innovations are born by breaking the boundaries of traditional industry. However, entering unknown territory is always a business risk. This risk can be distributed by collaborating with leading equipment suppliers and networking with research institutions and other businesses,” Ovaska says.

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