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


Meinke, H and Bonney, L and Evans, K and Miles, M, Tasmania's Bioeconomy: Employing the Seven Capitals to Sustain Innovative and Entrepreneurial Agrifood Value Chains, Knowledge-Driven Developments in the Bioeconomy: Technological and Economic Perspective, Springer, S Dabbert, I Lewandowski, J Weiss, A Pyka (ed), Switzerland, pp. 117-139. ISBN 9783319583730 (2017) [Research Book Chapter]

Copyright Statement

Copyright 2017 Springer International Publishing AG

DOI: doi:10.1007/978-3-319-58374-7_7


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.

Item Details

Item Type:Research Book Chapter
Keywords:innovative, regional value, industries, bioeconomy, seven capitals, agrifood
Research Division:Agricultural, Veterinary and Food Sciences
Research Group:Agriculture, land and farm management
Research Field:Agricultural systems analysis and modelling
Objective Division:Economic Framework
Objective Group:Management and productivity
Objective Field:Technological and organisational innovation
UTAS Author:Meinke, H (Professor Holger Meinke)
UTAS Author:Bonney, L (Associate Professor Laurie Bonney)
UTAS Author:Evans, K (Ms Katherine Evans)
ID Code:122364
Year Published:2017
Deposited By:Tasmanian Institute of Agriculture
Deposited On:2017-11-12
Last Modified:2018-09-17

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