As countries and companies around the world have increasingly turned their focus to sustainability, there has been a rapid shift in the demand for biological solutions. The global market for synthetic biology is now expected to be worth up to $300 billion by 2040, with McKinsey estimating that around 60% of the items we consume could one day be produced through cellular processes.
In the past week alone, Built by Nature has announced its plans to award €500,000 for the development of innovative bio-based construction materials. Recognising the need to reduce the carbon emissions embodied by buildings, the prize will be broken down into €250,000 for the grand winner and €50,000 each for three runner ups. The final €100,000 will be awarded to promising projects at the discretion of the five prestigious judges.
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