Martin Heydon (Kildare South, Fine Gael) | Oireachtas source

I thank Deputy Griffin for the question. The critical role of the bioeconomy in a sustainable global transition has been widely recognised albeit we are in the early stage of its development. The bioeconomy refers to the development of value from biological resources with a particular focus on converting waste streams into valuable products or, perhaps, streams that were previously seen as waste or having no use and realising their real potential and value. The bioeconomy brings significant potential to provide a source of income diversification for farmers, foresters and fishers and to boost regional economic development. I am determined to realise that potential for additional income into our rural communities from the bioeconomy.

The Government has invested significantly in this early development. This follows from the development of a national policy statement, the establishment of a cross-departmental group co-chaired by my Department, financial support through the competitive research and rural development programme, the BiOrbic, Bioeconomy SFI Research Centre and the Irish Bioeconomy Foundation and building coalitions and public-private partnerships for co-investment with leading innovative companies, co-operatives and farmers.

I recently announced an allocation of €8 million research funding committed to support the generation of knowledge in the areas of agriculture, forestry and food and the bioeconomy. My officials and I are working on the imminent establishment of a bioeconomy forum to provide a voice for a broad range of stakeholders in the bioeconomy sector, including the agri-food industry, primary producers, relevant State bodies and community groups. That will be set up shortly.

We recently ran a successful Bioeconomy Ireland Week to raise awareness of the bioeconomy and its products and to work with both public and private stakeholder to present ongoing research, innovation, demonstration, primary production, industrial, product and market activities that highlight how the bioeconomy is developing and being structured and mobilised in Ireland. Much work is happening in this area. Farmers and rural developers have a real nose for new opportunities and diversifying and that is what we are seeking to develop here.

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