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Future trends in synthetic biology in Asia
Abstract
For technologies used for medical and high‐value chemical applications, the paths to commercialization are relatively clear; however, applications in the environmental and food sectors can be more challenging, constrained by the status of the market and economics. In such cases, government policies come in as an important lever to trigger the initial exploration of a valid commercialization model. For instance, in Su et al's review of biofuel policies in the US, the EU, and China, various policy supports were explored in the studied countries175: setting up clear objectives in targeted percentage usage of biofuel in mid‐to‐long terms; providing financial incentives (subsidies, cost‐sharing, tax incentives, public procurement, etc.) to reduce the barrier for the biofuel industry; and funding long‐term R&D projects to diversify biofuel feedstock, reduce production cost, and study overall emission and general environmental impacts. In parallel, carbon taxing and additional evaluation framework that incorporates negative impacts of fossil fuels in long term also help to “push” the demand for more sustainable alternatives. In another detailed study of the national biofuel policy in India,176 the authors emphasized many difficulties in achieving the renewable energy targets in the country; apart from the remaining technical challenges, it was also difficult to achieve a coordinated implementation of the biofuel policies at the federal and state levels, accountable long‐term stewardship by multiple ministries (eg, the Ministry of Energy, the Ministry of Agriculture, the Ministry of Finance, among others), and importantly, legal enforcement. Nevertheless, government support in the form of “technology push” and/or “market pull” policies4 is essential to de‐risk technologies for environmental applications, and make them more attractive to industry and investors who will subsequently explore potential sustainable business models. Equally important are frameworks and mechanisms for collaborative governance and performance evaluations.4 To come up with these policy frameworks, it is important to engage stakeholders from academia, multiple government functions and industry to achieve a common understanding of the objectives, the technology, as well as the market.
Product Used
NGS
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