A readiness level framework for sustainable circular bioeconomy
Nicholas M. Holden
Abstract
Bioeconomy is proposed as a means of transitioning from the ‘take-make-use-waste’ paradigm of the fossil resource economy to a sustainable future. The integration of bioeconomy with circular economy principles is needed to decouple environmental impact from consumption. A business operating within a sustainable circular bioeconomy must function within environmental and social limits, and be economically viable, so entrepreneurs need a means of managing innovation in this context. A stage-gate approach is proposed that combines technology, innovation, and social readiness level frameworks with life cycle thinking to create an evidence-driven understanding of a new business innovation. At each stage-gate, questions are answered, using data obtainable by any business. Integrating stage-gated readiness level thinking with conventional innovation supports to guide entrepreneurs towards successful innovations for sustainable circular bioeconomy.