The key mission of ERA-IB-2 is to contribute to a European knowledge-based bio-economy (KBBE) by reducing fragmentation in IB R&D funding and by fostering the exchange of knowledge across borders, and to increase cost-effectiveness by pooling resources and optimising mechanisms for joint calls. The KBBE is the tool to achieving sustainable economic growth in Europe, as it will lead to sustainable, environmentally sound industrial processes and products which substitute fossil resources with bio-based (renewable) raw materials.

Industrial Biotechnology will be one of the key technologies of this KBBE, and ERA-IB-2 will ensure Europe makes full use of her potential by identifying IB-related R&D needs through stakeholder dialogue and responding to these needs with coordinated, joint actions (joint calls). These calls will lead to greater integration of IB R&D actors and activities, and will also improve access to finance and stimulate industry participation – and thus industry investment – in the lead market of bio-based products. As a consequence, the limited resources of each country will be used more efficiently.