Assessing the Economic Viability of Bio-based Products for Missouri Value-added Crop Production

While research and development on biobased products has continued strong over the years, parallel attention on the economics and management of such product innovation has been lacking. With the financial support of the Department of Energy, the Economics and Management of Agrobiotechnology Center at the University of Missouri-Columbia has launched a pilot graduate education program that seeks to fill the gap. Within this context, a multi-disciplinary research and teaching program has been structured with an emphasis on new product and innovation economics and management. More specifically, this pilot graduate education program has the following major objectives: (1) To provide students with a strong background in innovation economics, management, and strategy. (2) To diversify the students academic background with coursework in science and technology. (3) To familiarize the student with biobased policy initiatives through interaction with state and national level organizations and policymakers. (4) To facilitate active collaboration with industry involved in the development and production of biobased products. The pilot education program seeks to develop human capital and research output. Although the research is, initially, focused on issues related to the State of Missouri, the results are expected to have national implications for the economy, producers, consumers and environment.