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Tasmania’s Bioeconomy: Employing the Seven Capitals to Sustain Innovative and Entrepreneurial Agrifood Value Chains

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Knowledge-Driven Developments in the Bioeconomy

Part of the book series: Economic Complexity and Evolution ((ECAE))

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Abstract

Tasmania, Australia’s southernmost and smallest island state, depends strongly on its bioeconomy. Currently the farm gate production of Tasmania’s bioeconomy contributes around 7.4% to the overall Gross State Product (GSP). This figure is considerably higher than for Australia, where the bioeconomy contributes 2.5% to the overall Gross Domestic Product (GDP). Based on this measure, Tasmania’s economy is more in line with the economies of Brazil (5.7%) or New Zealand (7.2%). It is estimated that Tasmania’s bioeconomy currently contributes 16–20% of overall economic output, when taking into account the economic impact of related value chains that reach from agricultural suppliers to retailers. Government policy for economic growth in Tasmania aims to build up this sector over the following decades. To achieve the stated growth targets, technologies must be combined with business capabilities in order to effectively and efficiently commercialize innovation while maintaining sound environmental practices. A technology-driven, irrigation-led transformation is currently underway in the state, turning Tasmania’s bioeconomy into a highly knowledge-intensive sector of the economy. To fully realize the economic, environmental and social potential of investment in irrigation infrastructure, there must be similar investments in research, knowledge creation, marketing, value chain innovations and capability development.

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Notes

  1. 1.

    Here we use the definition by the European Commission that defines the bioeconomy as the sustainable production of renewable resources from land, fisheries and aquaculture environments and their conversion into food, feed, fibre bio-based products and bio-energy as well as the related public goods. The bioeconomy includes primary production, such as agriculture, forestry, fisheries and aquaculture, and industries using/processing biological resources, such as the food, pulp and paper industries, and parts of the chemical, biotechnological and energy industries.

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Author information

Authors and Affiliations

  1. School of Land and Food, Tasmanian Institute of Agriculture, University of Tasmania, Hobart, TAS, Australia

    Holger Meinke, Laurie Bonney & Katherine Evans

  2. Centre for Crop Systems Analysis, Wageningen University, Wageningen, The Netherlands

    Holger Meinke

  3. School of Management and Marketing, Charles Sturt University, Bathurst, NSW, Australia

    Morgan Miles

Authors
  1. Holger Meinke
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  2. Laurie Bonney
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  3. Katherine Evans
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  4. Morgan Miles
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Correspondence to Holger Meinke .

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Editors and Affiliations

  1. University of Hohenheim , Stuttgart, Germany

    Stephan Dabbert

  2. University of Hohenheim , Stuttgart, Germany

    Iris Lewandowski

  3. University of Hohenheim , Stuttgart, Baden-Württemberg, Germany

    Jochen Weiss

  4. University of Hohenheim , Stuttgart, Germany

    Andreas Pyka

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Meinke, H., Bonney, L., Evans, K., Miles, M. (2017). Tasmania’s Bioeconomy: Employing the Seven Capitals to Sustain Innovative and Entrepreneurial Agrifood Value Chains. In: Dabbert, S., Lewandowski, I., Weiss, J., Pyka, A. (eds) Knowledge-Driven Developments in the Bioeconomy. Economic Complexity and Evolution. Springer, Cham. https://doi.org/10.1007/978-3-319-58374-7_7

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